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Updated almost 15 years ago,

User Stats

41
Posts
4
Votes
David M.
  • Investor
  • Colton, CA
4
Votes |
41
Posts

How to collect assignment fee???

David M.
  • Investor
  • Colton, CA
Posted

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?

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