HAVING PROBLEMS ASSIGNING SHORT SALES
I GET A LOT OF SHORT SALES FROM BANKS AND THEY TELL ME I HAVE TO CLOSE. I CANT ASSIGN THE CONTRACTS. AND IF I CAN THE BANK WILL SEE MY ASSIGNMENT FEE ON THE HUD. WHAT CAN I DO 
I GET A LOT OF SHORT SALES FROM BANKS AND THEY TELL ME I HAVE TO CLOSE. I CANT ASSIGN THE CONTRACTS. AND IF I CAN THE BANK WILL SEE MY ASSIGNMENT FEE ON THE HUD. WHAT CAN I DO
Tough going if you want to play with shorts but can't complete the purchase.
Either line up a source of funds, take a partner, or, if you have potential Buyers in place,create an LLC as named Purchaser and you won't have to assign the approved contracts.
Or, perhaps shorts are not for you at this stage of your r/e speculation career.
i posted this in another forum where you suggested forming an llc with your new buyer but i will ask again.
how do you take your money if new buyer gets financed?
thanks
regarding assignments - i have in the past done an assignment of my interest in the contract to the new buyer and they accepted this however the new buyer would have to pay you your cash as a fee or just pay you cash period.
i didn't close on that property this way but they did accept the assignment of my rights to that negotiated contract.