Posted by rick mc on April 09, 2006 at 23:30:20:
When you auction a property what percentage of retail do you average? What is the commission paid? How fast can it be done? Who does the title search and how are closing costs handled? What happens if it does not sell for what you are controlling it for? This is a very interesting concept I would like to follow up on. Seems like it may be a fast way to unload a house you are controling. Thanks in advance for your answers.
Best exit strategy for L/O’s? - Posted by Luke Hoppel
Posted by Luke Hoppel on April 09, 2006 at 12:21:08:
For the people doing L/O’s out there: What is your primary exit strategy; double-closing or assign your contract to buy to the buyer?
Re: Best exit strategy for L/O’s? - Posted by Charles Parrish
Posted by Charles Parrish on April 09, 2006 at 15:11:07:
I like the assignments. We will control (almost like an L/O, but it is a contract of sale with delaying clauses in it.)we than than sell the property (contract) at public auction, anythng above our contract price is profit to be showned on the HUD-1 as an assignment fee.
Charles Parrish - Baltimore