Posted by Randy (SD) on October 30, 2003 at 09:39:21:
Worry less about the parties balking and more about your ?Buyers Lender?. If your buyer is going FHA or traditional mortgage lenders they will not allow a double close (seasoning), an assignment fee or performance mortgage for $35k is very high.
The seller should have no issue, if they are getting what they want/need out of the deal. The buyer really has no position to object if they are satisfied with the market value and price.
Option Assignment Question - Posted by LeRon Ford
Posted by LeRon Ford on October 29, 2003 at 21:07:26:
Hi All,
Here’s my situation. I have an option (no lease) on a property for 100K with the seller. I am trying to sell the property for 135K (I have comps to back this up).
The seller will make about 40K on the deal and we could make up to 35K.
What is the best way to close this transaction, double close, assignment, or performance mortgage, without running the risk of seller and buyer balking once we all get to the closing table?
Thanks