Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 5 months ago on . Most recent reply

User Stats

7
Posts
4
Votes
Roli E.
4
Votes |
7
Posts

Paying Assignment Fee Outside of Closing

Roli E.
Posted

I am purchasing a property through a wholesaler and the wholesaler wants me to pay his assignment fee outside of closing. He says he would provide me with a 1099 and he has to do it this way because the seller insisted on using their title company and the title company would not include the assignment fee to the transaction. I have never done a wholesale deal this way, I usually wire purchase plus assignment fee to title and they disburse to the wholesaler and the seller and have the assignment fee included in my closing statement. I am concerned that the closing statement would not record the actual price I am paying for the property. Am I overthinking this or is this an actual risk to me? I intend to hold the property for a while.

Most Popular Reply

User Stats

7
Posts
4
Votes
Roli E.
4
Votes |
7
Posts
Roli E.
Replied

Thanks  for the insight, they ended up adding an invoice to the escrow statement.

Loading replies...