Question about wholesaling want to be sure im doing things right.

[Joseph Riv]

Hey Everyone!

I need your help. So, I have a home under contract, and I picked it up from the seller incredibly discounted. I wish to turn this proper or rather assign this property to an investor for 60,000. Do I have to disclose to the seller what my assignment fee is? Do I have to even be present at the closing? And lastly, Do I need to pull the title? If so how do/should I go about this. 

These are newbie questions I'm sure but I'm just beginning. I do know the buyer should know my assignment fee.

[Curt Davis]

@Joseph Riv

You can do it two ways:

 Assign your contract and you will have to have your buyer sign the assignment contract which will state what your fee will be. If you are concerned and dont want them to know what your fee is then you need to do a double close.  You will sacrifice a little of your profit for closing cost/misc cost but your end buyer will not know what you made for profit. 

Most closing attorneys will require you to have transactional funding in order to do a double close  If you dont have this then assignment will be your best bet. 

You dont have to be at the closing. Anyone pulling title would be the buyer, not you unless you did a double close.

Good luck