On the REtipster course template for Assignment Agreements, there is an assignment fee and a separate section for the non-refundable portion. What do you all usually put as a non-refundable portion of the total assignment fee? This might vary based on the sales price range.
The course mentions the following for the assignment fee: $500 if sales price is less than 10k, 10% rounded up to nearest thousand if in between 10k to 30k, and 10% for anything over 30k.
I've asked this question before on facebook but I only got one response, stating to make the whole amount non-refundable. Anyway, looking forward to your thoughts.
My only experience is in dealing with houses in regards to wholesaling - depending on how well I know the wholesaler, I'm paying anywhere from $500 for the wholesalers I know well, up to $2000 non-refundable for ones that I don't work a ton with. In the latter scenario, the wholesaler just wants assurance that I'm a serious buyer. I get it...and I should be doing my due diligence, albeit quickly, before I agree to sign the assignment of contract. There was one time where I knew I had gotten in over my head on a specific house, and it was $2000 non-refundable...luckily, I was able to find another buyer just to take my place. He paid me $2000 and my original deposit just counted on his behalf, so it all worked out. All that to say, just depends on your comfort level with the buyer in my opinion.