Reverse Assignment Anyone?
I was wondering if anyone has used a "reverse assignment" agreement in order to avoid a double closing?
Basically, if you identify a buyer before you are to close on a property, you can apparently do a "reverse assignment", where you assign the contract with your buyer to the original owners. You get your money (the difference between you contract with the owner and the contract with the buyer) during escrow. This way you avoid a double closing and the buyer can finance the entire deal.
Has anyone used one?
why not talk to buyer,or change your position to consultant.
John Alexander has been proven to be a con artist:
http://www.real-estate-made-easy.com/alexander.html
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mtnwizard-
I would phrase that "is highly likely to be a con artist". I think a conviction is necessary to call it proof.
Chris
C-King,
Did you receive these funds at closing or later? What instrument did you use to secure your assignment - Promissory note, lein, contract assignment with the seller, other?
Hey Commercialking,
How did you form the Contract wording on the reverse assignment of Contract?
Not seeing any of that in Ca. Buyers are rare and fussy. Sellers seem to be overly optimisic or losing their shirt. Think we got a ways to go over here.
Not seeing that in TX either. Prices have held steady here, but number of sales are way down. Laid off mortgage people are still laid off.
In the Bay Area of CA, many mortgage brokers and realtors are dying for business. Deals are way down as are listings and sales.
Same up in The Wine Country CA, with fewer listings and prices leveling out, however we have a few pockets of activity (Napa, Sebastopol, Hidden Valley, Kelseyville, etc) and some of our top agents are busy, busy, busy... One for sure has even hired additional help and bought a third office
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Chris
Are you serious? Are you serious? You are funny
temperature is freezing, how do they shop for houses in Michigan?
nothing happens in warmy Florida!!!