Posted by David G. on October 27, 2003 at 13:57:02:
When I do flips, I get the fee from the seller. I tye up a home for a discount (Say 85K) then look for a buyer and sell for 100K. I then sign a contract with seller that I am assigning my right to sell to buyer for a fee. So seller ends up selling to my buyer for 100K, but he only keeps 85K. I have the assignment of contract notarized incase I need to record and put a cloud on title if seller gets greedy. So at closing seller gets 100k, but attorney or title co has an invoice that I give them where Im charging seller my fee. I get the money at closing.