Disclosing Assignment Fee

[Danny Rapczak]

As I begin my journey in wholesaling please forgive me if this sounds amateur

I recently spoke with a seller who lives in Florida and wants to sell his property in NJ.  The home is not in bad shape, but needs some cosmetic updates.  That being sad he is looking to unload the property and would prefer a hassle free quick closing BUT is also looking to get the most money out of the home.  I understand in most cases a seller can't have all three scenarios (price, convenience and speed) but hypothetically speaking if we agree to a contract price of $350,000, I bring it to my buyers and someone offers $400,000.  Therefore making $50,000.  In this scenario dealing with someone who is money driven and sees that he/she could have gotten more how do you as a wholesaler go about being as transparent as possible?

[Greg H.]

Quote from @Eliott Elias:

Refer these type of sellers to realtors and split commission with them. 

 So you as an agent are advocating a unlicensed person refer a seller to an agent and seek a commission for doing so?  You realize it is a RESPA violation for an agent to pay a referral fee in this case correct? In Texas, a fee in excess of $50 is not permissible