Scheduled Interview With RE Attorney/Investor

Verna,

Absolutely, you need to talk with him to see if he would be intersted in any properties that you might bring in for an assignment. If the attorney is not interested, they may know of an investor that would be. Network network network!!

I usually have the buyer pick up my assignment fee, and who pays closing costs can be negotiated with the seller and the investor. If the seller doesn't want to pay them because of the price they are negotiating on the property is slow low, you can have the buyer pick up the tab since they are already getting a heck of a deal on the property. Everything can be negotiated.

Destrie

Thanks for the info. I was hoping I would be able to interview also as a possible end buyer also.

By "assignment fee" are you referring to the fee the attorney charges? You said you would have the buyer pay the closing cost. Are you saying that I should figure these cost in when I determine the amount I am assigning to the end buyer or do I make this part of the agreement with the seller as part of the purchase contract since the end buyer is obligated to the purchase contract that I initially agreed upon with the seller?

Also, do you have any ideas for the other part of my question pertaining to what questions I should ask when interviewing the attorney?

Thanks for your help.

Verna (newage8767)

The assignment fee is what you would charge if you are assigning a contract. Usually it's the difference between the price that you paid for the property, and the price that you are selling the property.

Closing costs is what the attorney will charge when you close on the property. This can vary depending upon if it is a cash only deal with no lenders (cheapest) or if there is a lender involved.

If you are doing an assignment, make sure the attorney knows about assignments and has closed on them before. Make sure the attorney is open to creative investing ideas if you are not going to be using anyof your cash. How long has the attorney been in business? What type of contracts you will need and how quickly he can schedule a closing on a property.

Find out what he charges for closing, and ask what a typical closing usually will cost. Ask him if you use him soley for closing, if he will cut you a deal based upon how many closings a month he/she will be performing.

Destrie,

Thanks for the information. I needed to make sure my thoughts about what to ask were on the right track.

Thanks,

Verna (newage8767)