However, if you're closing through a title company, they can request the payoff.

Does the buyer pay the difference or does the title company disperse these funds?

You must have the proper document and procedure to avoid title seasoning.

In addition, you may have unemployment and workman's comp depending on your state.I would never hold any title naked (in my own name) other than a personal residence.

Ok i see, so 1k deposit, 5k assignment fee, he pays 4k more at escrow or from the title company.Thanks!

The only time it would pose a problem would be if you were the actual previous owner, and they probably wouldn't even know this until the title search.

Before we break contract, however, we will both sign a promissory note stating that he will pay me the difference in the option price I had with him and the option price agreed with the end buyer that I found; I will get paid from the title company as a lien holder at closing, simply having them wire my fee to my bank account and me never having to be at closing.

What does it mean in the IRS auction if they state "Only the right, title and interest of the Taxpayer in and to the property will be offered for sale."

From what I've read about JA's program, this seems almost identical.

Call the end buyer back and tell them that you are enforcing the assignment contract and that the closing will be on such and such date, and if he is not there to close he will be in violation and have such and such penalties.The signing of the assignment contract is valid, and it takes all responsibility off of you.Simply send the title company the assignment contract, the original contract, and the contact information of the end buyer.It's now off of you.