How to collect assignment fee???

[David M.]

We have a short sale tied up under contract taking vesting as a trustee of a trust, cash deal only. We're looking to assign the trust. We have a cash buyer to purchase this, but they do not want to pay any EMD or any part of the assignment fee upfront. Buyers dont want to pay any money until the deal is closed in their name. I suggested opening a neutral escrow to handle the assignment part of the deal and have them do a courtesy close. Buyers can wire the assignment fee to this escrow payable at closing, refunded if deal goes sour due to sellers fault, but non-refundable if buyers fail to perform. Buyers are still resistant. Any thoughts or solutions to the problem?

[Jonathan Rexford]

David,
Who is driving this boat. You or the buyer. If this buyer doesn't want to put up EMD then he is not a buyer.

Now with that said. Do you have an approval letter for the short sale? if not then why not just take a contract on the property and tell them that they have 24hrs to make their money hard after the short sale approval.

I do this with the majority of my short sales.

Since I sell most of my short sales without realtors, I will take mutiple bids on contract. I will choose the best bidder after I get the approval. It is a long term round robin auction...:)