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Updated over 11 years ago on . Most recent reply

User Stats

52
Posts
2
Votes
Jeff Wells
  • Rehabber
  • Yucaipa, CA
2
Votes |
52
Posts

Question about assignment guarantee of fee

Jeff Wells
  • Rehabber
  • Yucaipa, CA
Posted

We are wholesaling a property to someone we've never dealt with or met. In the contract we have that we get our fee regardless of whether he closes the deal. He says he isn't comfortable with that because anything could happen. Yes anything could happen. But to protect ourselves we think we need to guarantee payment so he can't kill the deal, then go back and get from the current owner a cheaper price. I realize this is a pessimistic view but honestly, people in general have rightfully earned my pessimism. So what do you think? Let it ride and hope he's honest or risk pissing him off and losing the deal? What's the norm?

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