Wholesaler Will Not Disclose Assignment Fee to Cash Buyer...

[Henry M.]

So I just got off the phone with a Wholesaler (of 14 years, according to him), and asked about a property of interest. This property has been reduced $13K (interesting)...

Here's the conversation:

Me: Is this an assignment fee or double close?

WHS: Assignment Fee

Me: So what's your assignment fee?

WHS: That's not any of your concern.

Me: Uhmm, okay.

Me: So, how will you be paid an assignment fee?

WHS: It's included in the price.

Me: So the seller is paying you the fee?

WHS: That is not of importance to you.

Me: Is the buyer paying you an assignment fee?

WHS: Yes. It is included in the price.

Me: Have you ever closed an assignment deal?

WHS: Over 600 of them. The Assignment Fee will be on the HUD1.

Me: Hmm.

Now... I'm pretty up to date on real estate strategies.

So am I missing something or should I just Laugh Out Loud?

Needless to say, the conversation seemed to rub me the wrong way.

Just checking if there is a new strategy I am unaware of out there where the buyer doesn't know what the assignment fee is.

"Big" Henry

[Curt Davis]

It should not be that big of a deal. You need not need to ask them what their assignment fee is, you could always ask your closing attorney and they will tell you as they will need a copy of their contract with the seller.  The wholesaler is concerned you will try to get them down more that is all. I never ask them what they are making as if I agree to their price then it is irrelevant what their fee is.
Good luck