The current assignment agreement (in the wholesaling package) shows all the assignment fees. Am I correct in assuming that it will show up on the HUD statement?
Double closing is an option but I am trying to make assignment work. I am the B in A to B to C. C has no issues paying high assignment fees but I don’t want A to see my assignment fees. If they show up on HUD statement would A know about it? Title company was saying that my assignment fee may need to be disclosed to A. I don’t think that’s right.
Long time back someone has posted a modification to assignment agreement. Where you have one assignment fee for closing purposes and then you get another one after closing? So the second assignment fee likely does not show up on HUD statement. Does anyone remember or have that modification or contract or suggestions @karljames @retipsterseth ?
@mrrobot this sounds like a situation I’ve had in the past with a money partner. I just assigned the contract to him with no assignment fee. After closing we split the profits in accordance with our investor agreement.
@john-pitkin Thank you! I appreciate the response. I see how this can be doable with the partner due to investment agreement. In my case, I would need to sell it to my seller - most likely via assignment agreement. So, not sure, if I can replicate the same process. Thanks once again for your input!