Structuring Double-Close on a FNMA REO

[Marco Islas]

This has probably been answered in a few different posts but by the time I dig and real through all the forum topics I think it's a little easier to ask away instead:

I have a Fannie Mae REO under contract for $70k and there is the usual almighty deed restriction limiting the next sale within 90 days to $84k. A local wholesaler has found a buyer willing to pay 88,000 for the property so that he can get 4k out of it himself as well. If you follow me up to this point than I'm sure you know where my question is going...is there a simple and easy way to structure the deal so that the property goes under contract for the allowable 84k and we can include the wholesaler's fee as some sort of closing cost that won't effect the purchase price? An assignment fee maybe?

I've been wholesaling and rehabbing for a while now, but mainly dealing with my own properties from the Trustee's sale. I'm usually turned off by the REO because of all the parties and limitations involved but this is a great deal that I couldn't pass up. Normally we would just sign up the end-buyer at the higher price and call it a day but that's not an option here.

Any help on how to properly structure this without going over the 84k max selling price and still allowing for my wholesaler to get paid out of escrow would be greatly appreciated.