All Forum Posts by: Reginald S.

Wow thanks guys! All of your input was precisely the information I was lacking and looking for. You guys nailed it!! I am truly grateful for BPU! BiggerPockets University...

No I don't want to cut the agent out. I just would like to know just how a deal like this is structured (as far as the realtor's compensation is concerned), since there wont be a lump-sum of cash on the table for them to pull their commission out of. Oh and the homeowner called me...   

Hello all. I have a homeowner that is willing to sell me their house via owner financing. However the house is currently listed on the MLS. Can they still offer owner financing on a MLS listed property? If yes, how does the realtor receive his/her compensation? Thanks in advance for all of your valuable time and expertise...

Hello all. I have a homeowner that is willing to sell me their house via owner financing. However the house is currently listed on the MLS. Can they still offer owner financing on a MLS listed property? If yes, how does the realtor receive his/her compensation? Thanks in advance for all of your valuable time and expertise...

Hey Craig this is Reggie from Alpha Property Investments Ltd. in Manning. Congrats on your starting RE school! Much Success!

Wow thanks guys for sharing your valuable experience with me! Dave, you knocked it out of the park! I'll give an update and let you guys know how I made out with this.    

Hello all! I have a lady that lives in Connecticut that would like for me to buy a house that she owns in my hometown of South Carolina. However I have no idea how to do this. Is it legal in the state of South Carolina to have her sign my purchasing agreement via fax, email, etc. ? Does the seller have to physically show up at settlement here in SC.? I really don't care to let my attorney know (at this particular time) just how ignorant I am in this area. Please help, thanks in advance,

Reggie...

If purchasing a MLS listed property via an 'option' is doable, precisely what is the process? Thanks in advance, you guys are the best!

Hey Guy Raveh, I feel precisely the way you do. As long as I'm receiving what I agreed was fair as it is written in our agreement, I could care less about the other guys profits. However I'm starting to realize that everybody don't necessarily see it like this. Oh and to answer a couple of peoples question, what I am referring to as a "larger than normal assignment-fee" is anything over $10,000. Oh hand here's what my mentor's reply was, "How much you charge as an assignment fee is totally between you and your end buyer, and is no one's business. The assignment does not become part of closing. You collect your assignment fee at the time you assign, NOT at closing, as the closing agent will only be closing the original contract (with seller and the new buyer).

You are free to charge any assignment fee you wish, as long as your buyer agrees to it. And your assignment and assignment fee has nothing to do with any HUD form.

Not sure what type of assigning those others are into, but it sounds mighty strange if they think it affects any HUD forma, or closing, or amount of profit you can make."

What do you guys think about his (my mentor's) reply? I learned in a previous coarse that the assignment-fee is listed on the buye'rs Hud-1 as was confirmed by Aaron Mazzrillo above.  To be specific I was told that It could be found on line l04 of the buyer's Hud-1. 

Again thanks all for your replies I'm grateful for you all...

Thanks all for the speedy replies. James unfortunately I believe you may have a valid point. Truth be told I have been feeling that way lately myself. However Tom you must have misunderstood my post. My post was about my buyer not the seller but thanks for your response anyway. And last but not least, Arktavious I found your post to be totally on point! It definitely confirmed everything that I thought I new about this part of the process. Thanks again all. Reggie