Assignment of contract

[investinAK]

When you go to assign a contract (NOT double close) and you get paid your assignment fee, does the assignee (is that right?) pay you when you assign the contract to them, or at their future closing? I hope this makes sense...?

I raise this question, because as I was reading a "success" story in one of my books, one investor said they assigned a contract and got a $24,000 check "AT CLOSING". Is it simply just possible that they confused the assignment with a double closing? Your input please. :confused:

THANKS!

[REIaddicted]

When you go to assign a contract (NOT double close) and you get paid your assignment fee, does the assignee (is that right?) pay you when you assign the contract to them, or at their future closing? I hope this makes sense...?

I raise this question, because as I was reading a "success" story in one of my books, one investor said they assigned a contract and got a $24,000 check "AT CLOSING". Is it simply just possible that they confused the assignment with a double closing? Your input please. :confused:

THANKS!

The assignee only get's the fee after the home has sold and closed.

Lisa

[investinAK]

I think I may be just complicating things for my poor little brain! :) If you don't get the fee after you have sold the home and closed, what's stopping them from not paying you? Do you pick up your check at closing? Like I said, I think I may be OVERthinking this! :SM121:

[REIaddicted]

You would not attend the closing ( as a general practice) and if you have concerns about not being paid... then you shouldn't be doing business with that investor in the begining.

Lisa