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Updated over 8 years ago on . Most recent reply

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Trey Brooks
  • Atlanta, GA
19
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41
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Assignment of contract dilemma

Trey Brooks
  • Atlanta, GA
Posted
Hey Y'all, Hope all is well! I am in the process of wholesaling my first deal, in Jackson Mississippi. After I got a buyer I found a pretty nice attorney to close the deal. But, just now the buyer told me we don't need the closing attorney and that his bank could just notarize the paper work. Plan A) I'm selling the contract for 150% more than what I got it for, so the attorney recommended doing a double close... But now since the buyer doesn't want to use a closing attorney how do I go about assigning the contract? -Thanks in advance, Trey.

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

You control the closing, you use your attorney.  With enough spread, you could offer to cover any perceived extra cost.  Just tell him, this is how You do it.  What kind of contract, if any, do you have with your buyer?  Does it detail the closing procedure?

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