I have already done the deal the assignment fee was on line 701 of the hud sheet in fact my sellers needed to bring money to closing but instead i shorted my fee by 1432 dollars o yeah the fee was for 15,000 dollars I was working with a realtor as well so that may have help because he had a working relationship with the mortgage company. The pay off was 71,003 plus thier 1000 fha premium was revoked but overall everything went well. Oh yeah my buyer payed me out of his loan proceeds. I know this is not going to work like this all the time but I had to give it a shot.
I think that if you do that, you'll open a bag of worms.....
Mortgagees are increasingly intolerant of the assignment of an approved short sale contract.
What value did you assign to the subject property?
What is the 'resale' price?
What is your assignment fee?
Why can't the Buyer pay you outside of the contract? This should have been discussed and agreed upon well in advance....
I have already done the deal the assignment fee was on line 701 of the hud sheet in fact my sellers needed to bring money to closing but instead i shorted my fee by 1432 dollars o yeah the fee was for 15,000 dollars I was working with a realtor as well so that may have help because he had a working relationship with the mortgage company. The pay off was 71,003 plus thier 1000 fha premium was revoked but overall everything went well. Oh yeah my buyer payed me out of his loan proceeds. I know this is not going to work like this all the time but I had to give it a shot.