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Updated about 11 years ago on . Most recent reply

User Stats

21
Posts
28
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Roy K.
  • Investor
  • Chicago, IL
28
Votes |
21
Posts

1st Wholesale Deal - NEED Answer ASAP

Roy K.
  • Investor
  • Chicago, IL
Posted

I have my 1st wholesale deal, and the buyer and seller don't know that I'm wholesaling it. Buyer knows there's an assignment fee, just doesn't know who it is.

I convinced the Title company to include the fee but they insist on putting my name or my LLC name on the HUD as "Assignment fee to XYZ", even though I asked them to just write "Assignment fee" without the to.

how do I convince Title to remove the "to XYZ" part without seeming shady?

Closing is tomorrow so please respond ASAP

Most Popular Reply

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1,456
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951
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Patrick L.
  • Real Estate Investor
  • Saint Petersburg, FL
951
Votes |
1,456
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Patrick L.
  • Real Estate Investor
  • Saint Petersburg, FL
Replied

Without seeming shady? You've already missed that boat. The title company has to disclose where all of the funds are going on the settlement statement, they can't just have line items going to a mystery party. If you want to do repeat business I don't know why you can't do it in an up front an honest way.

Who does the buyer think you are, the actual seller? If that's the buyer will find out pretty quickly when there's a different seller.

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