Posted by Matt KY on July 05, 2002 at 11:39:22:
“Option: Collect your assignment fee as soon as you assign your option. Don’t wait for settlement. Your buyer might not exercise the option, in which case you forfeit the option premium you have in the deal.”
Example: I have an option on a $150k house. I find a buyer that will pay $200k. But all of his downpayment money is going to the bank when he gets financing. Hes not going to cut me a check for $50k. so i would think that even though i would rather assign it and be done, i would have to wait for closing.
thanks for the help!