Is There A Maximum Amount A Seller Can Assign To A Buyer/Third Party At Closing?

[reinvestor_1024]

I have some deals I am structuring that instead of trying to arrange the increasingly difficult "simoulataneous closing" I am going to have to ask for a proceed assignment from the seller to receive my cash at closing. I would like to know if there is a maximum amount of money (or percentage of the sales price) that a seller is allowed to assign as payment from proceeds to the buyer or a third party.

[Terry (Houston)]

I have never heard of too much money, :ban: just my way of thinking mind you... but you may run into a small minded underwriter or lender that may tell you otherwise. The seller may not like it either.

I have earned some big cash at the closing tables from wholesaling properties. My wife beats on me to do that more often. :SM117: With one investor, he pays me outside the closing. It is a lot of trust that he has earned. But he pays every time.

One thing you might do is to find a way to have a lien on the property, say a deed of trust for the work you are performing?, and then be paid to clear the lien. Or maybe as a title defect? There are many ways to get ‘fees’ onto a closing statement, you just have to know if your seller is going to throw a fit or not.

Me? I like my buyers to be proven investors that I know can close. They, and I, have worked hard to build relations with title companies to get around close minded thinking like you should never make too much money on a deal.

Just my thoughts...

Terry (Houston)

[Dan Auito]

Those are very worthy thoughts Terry. I can only hope a few more folks here are as worthy as you today! :SM009: