When I send my assignment contract to a buyer on DocuSign, do I just leave the “Assignment Fee” blank until I send it to the title company?
Sure, I’d sign an assignment contract that left the fee I pay blank.....
Or, is this one of those dumb a$$ “assignment contracts” that shows the total price for the house, like a purchase contract?
why would you want to leave the assignment fee blank? If you're trying to hide your assignment fee from your buyer then you probably want to do a double close.
How much have you agreed to buy the property for from the seller?
How much do you want for your assignment fee?
The answers to these two questions will determine whether you want to Assign the contract or double close.
@La'Terrius, I will echo @Shari Peterson . My relationship with the buyer and the amount of the fee will dictate whether I assign the contract or double close. When closing via assignment, you will disclose your fee up front to your buyer via the assignment contract and they will sign. It will be on the HUD anyway. If they are going to have a problem with your fee, it's best to get that out of the way on the front end, not the 11th hour.
Keep in mind, our job as a wholesaler is to be a problem solver and a deal finder. Its our job to make sure a true deal is there. If you are bringing a good deal to your buyer and they run their own numbers and determine it is a good deal, it shouldn't matter what your fee is. Though that is not always the case. If you think there may be some push back with your fee, opt for the double close scenario: A-B contract B-C contract.
@Shari Peterson thank you!
@J. R. Crowell thank you!
@Duane Alexander thank you! I’m new to wholesaling and I’m trying to learn as much as possible!