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Updated almost 14 years ago,
Different wording for "assignment fee"
I haven't closed my first deal yet but I'm getting close. I've called a title company that I was told works with investors and learned that banks aren't letting people "assign" contracts in Arkansas. I would have to hold the property for atleast 6 months before I could do anything with it.
Yes, I know ideally buyers should be cash buyers but I have a retail end buyer. Any suggestions on any other possibly "wordings" for assignment fee that won't send up any red flags to anyone like lawyers/mortgage guys/anyone with authority that could throw a red flag?
Any help is greatly appreciated. Thanks in advance!!