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Updated about 12 years ago on . Most recent reply

User Stats

53
Posts
15
Votes
David Littleton
  • Renter
  • Kentucky
15
Votes |
53
Posts

How do you hide your profit from a seller in an assignment?

David Littleton
  • Renter
  • Kentucky
Posted

When you do an assignment, how can I make sure the seller doesn't find out what you're making off of the deal?

Most Popular Reply

User Stats

18
Posts
3
Votes
Jeb Z.
  • Real Estate Investor
  • Miami, FL
3
Votes |
18
Posts
Jeb Z.
  • Real Estate Investor
  • Miami, FL
Replied

Ran into this a few weeks ago on a deal I closed. Seems to me that back in the go go days closing agents didn't care whether it went on the hud or not but with all the scrutiny of today it's best to put it on there.

I have a addendum I use on both sides of the deal. It states that I'm making money and that they're ok with it before signing any purchase contract - CYA.

As previously mentioned best thing is to have the parties show up at different times or be put into seperate rooms for the closing. My fee went on the buyers side of the Hud and since he knew what was happening from my addendum he didn't care. The seller was making money off the deal so they didn't care either, not that they even saw it but it was all done in the same room and went smoothly.

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