How do I get paid under the assignment of a L/O
have a similar question on this issue......I understand the "assign" portion, my question is how and when do I get paid the difference between my l/o contract and the buyer I have?? I am currently doing conventional purchases for people who want a l/o and then having them buy from me....I would much rather not have to buy the property at all and get the deal in the middle.....I am confused as to how I get paid for the possible $15-20,000 difference in the 2 l/o contracts.....any info would be great...I have many people calling me for these deals....
It depends if the person is paying at settlement. Have your lawyer or if you can't afford a lawyer but I advise against it. I mean your earning 15,000 to 20,000 dollars and not to get a lawyer to draw you up a contract is kind of risky to me but hey some people would rather save money and get it wrong than buy time and get it right. Anyway have your lawyer put in the contract that you are to be paid at settlement your assign fee if the purchaser has for convential financing to pay you.
It depends if the person is paying at settlement. Have your lawyer or if you can't afford a lawyer but I advise against it. I mean your earning 15,000 to 20,000 dollars and not to get a lawyer to draw you up a contract is kind of risky to me but hey some people would rather save money and get it wrong than buy time and get it right. Anyway have your lawyer put in the contract that you are to be paid at settlement your assign fee if the purchaser has for convential financing to pay you.
It depends if the person is paying at settlement. Have your lawyer or if you can't afford a lawyer but I advise against it. I mean your earning 15,000 to 20,000 dollars and not to get a lawyer to draw you up a contract is kind of risky to me but hey some people would rather save money and get it wrong than buy time and get it right. Anyway have your lawyer put in the contract that you are to be paid in installments.
It depends if the person is paying at settlement. Have your lawyer or if you can't afford a lawyer but I advise against it. I mean your earning 15,000 to 20,000 dollars and not to get a lawyer to draw you up a contract is kind of risky to me but hey some people would rather save money and get it wrong than buy time and get it right. Anyway have your lawyer put in the contract that you are to be paid in installments.
It depends if the person is paying at settlement. Have your lawyer or if you can't afford a lawyer but I advise against it. I mean your earning 15,000 to 20,000 dollars and not to get a lawyer to draw you up a contract is kind of risky to me but hey some people would rather save money and get it wrong than buy time and get it right. Anyway have your lawyer put in the contract that you are to be paid in installments.
It depends if the person is paying at settlement. Have your lawyer or if you can't afford a lawyer but I advise against it. I mean your earning 15,000 to 20,000 dollars and not to get a lawyer to draw you up a contract is kind of risky to me but hey some people would rather save money and get it wrong than buy time and get it right. Anyway have your lawyer put in the contract that you are to be paid in installments.
I do have an attorney to work with me on the contract......like I was asking though....lets say I signed into a lease purchase for $700/mo and a buyout of $70,000......I have a buyer on the backend that will lease purchase it from me for $850/mo and a $85,000 buyout.....all within a 1 yr contract. Now, how to I just assign my contract over from the homeowner to my buyer and get my spread in the middle without having to purchase the property.......also, will I receive all the money that is the difference between the $70,000-$85,000??? This is the part of the deal that confuses me.
i agree with the last post. is that the assignment fee? and which contract would you put the clause in? I'm really confused on the backend part of a sandwich l/o. by reading this forum I've seen preformance mortgages, assigns etc. can someone explain both and which one's better?
and if anyone's up in canada, I'd love to hear how you're doing.
thanks.