Asssignment Fee On Closing Statement

Ok,

So if a wholesaler writes a contract to buy a house and proceeds to immediately assign his rights under the contract to a buyer who secures a mortgage,

, how can he collect his $3,000 assignment fee on the day of closing and have it shown on the closing statement? Does a performance lien play a role in accomplishing this? how?

Can anyone explain how the assignment fee gets paid to the wholesaler. Do lenders or title companies sometimes have a problem with that.

Comments(2)

  • jmBROKEr17th September, 2003

    One broker to another, I have had no luck w/ any lenders willing to finance buyer w/ assignable contract, and I called them all.

    A private lender will but the one I found will only fund 85% ltv.

  • DaveREI17th September, 2003

    you collect immediatly when you assign your contract off

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