Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Wholesaling
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 over 7 years ago on . Most recent reply

User Stats

127
Posts
23
Votes
Trevor S Foster
  • Gaithersburg, MD
23
Votes |
127
Posts

What would the assignment fee be for a raw land deal?

Trevor S Foster
  • Gaithersburg, MD
Posted

a family member has given me the opportunity to find a buyer for raw land that we own. It's 5.4 acres, appraisal is near 130k.  Land in the area similar have sold for between 110k and 140k. The homes built on similar land have sold for upwards of 400k. 

My 2 questions are:

1) If the appraisal for the land was determined to be 130k. After speaking with my family member, they've said they want 150k for the land maybe 140k. Am I wrong for thinking that we can't ask for more than what the appraisal has recommended?

2) What (in your opinion) would be a good assignment fee for a deal like this? 

Bonus question: what do you think the asking price should be for the land after looking at the appraisal and if a buyer were to accept, what (in your opinion) would you set the assignment fee at?

Loading replies...