Posted by Stacy (AZ) on February 24, 2000 at 10:16:03:
Need to know what the retail value of the property is…after fix-up. 5K is not out of line…I’ve received more. But it depends on the deal.
Stacy
Assignment Fee - Posted by Shenesa
Posted by Shenesa on February 24, 2000 at 08:14:41:
Thank you to those who responded to my question about an Assignment Contract. I would like to know what is the most that I could ask for to Assign my contract to another investor. I had advertised a two family house for $42K in the local newspaper. I did receive calls on the ad even after I stopped running the ad, due to finances. I later received a call from an investor who is very interested in the house but I would like to assign the contract to him so I can move onto other things in REI. What is a fair fee for the assignment. I’m figuring since he was willing to pay the 42K, and fixup cost are only going to be $3k and while he is fixing up one unit, the other unit is now ready to be occupied, which will rent for $500 a month and in 4 years he will get his money back and then some and plus after fix up it will bring the value up high.
So I say all this to say if asking 5K for the assignment is fair? And yes I know about saving the lions share for the lion but believe me he is getting is share and then some. Has anyone ever received more than 3K for their assignment?
Thanks for your response.