The person I am receiving the assignment from will make 00 from the assignment of the contract to me.
The last thing you want is for you to go to the closing of escrow on a property you are purchasing and have problems.
Not informing the seller ahead of time your intent to assign the contract to someone else may cause major problems with the seller if feel they were misled or deceived.
If you purchase a property for $300,000 and use a realtor, more than likely you will be charged 3% for the realtor representing you as the buyer’s agent.
There also be another 3% the seller has to pay to his realtor as the seller’s agent.
Just because you put “ and or assigns ” does not mean that you will not follow through with the purchase of the property yourself.
What Is An Assignment In Real Estate
It does not lock you into assigning to a third party.
If you bought whenever you purchase a property, there are a lot of expenses that are incurred which are called closing costs.
When you look at the HUD statement of a property are purchasing, you will see many expenses that the title company charges as well as the county government charges for the transaction.
There are no added expenses on your end because you are getting paid a fee that is specified in the contract, and agreed to by the seller and buyer.
If you find a property that a sellers willing to sell the property for 0,000, you turn around and market it for sale to an investor for 0,000, the difference is yours as an assignment fee.