Deal On Contract
I paid the seller $10.00. I have an assignment of real estate purchase and sale agreement under contract. By doing this the seller gives me "the assignee permission to sell correct? Therefore do I treat the property as if it is mind? Can I just do a purchase contract with the buyer? How does this work at closing so I can get paid?
Record a Memorandum to protect your interests. At closing, a new Contract will be created between the Seller and your Buyer, and you will be paid a fee on the HUD-1 (to equal your profit) to "release" your Contract.
[addsig]
thank you that is exactly what I will do. I am a freak for control
I have a quesiton about this also
How did u label the fee on the hud form
Payoff
did you have control of the lawyer doing the escrow?
What is the loophole for Florida?
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"A deal is only as good as the quality of your Contracts." --Me[ Edited by LeaseOptionKing on Date 04/12/2007 ]
^^^
Looks like we found the guy who got cut out of the deal....
tbird,
I thought the HUD acceptance formula was "top secret", that shows how little I know, thanks for the information, I bought HUD in Georgia for less but I guess things change. Yea!!!!!!! computers.
[addsig]
Wow, thanks for that REO link. Im a newbie and just soaking up info on this site. Great site BTW.