- Joined
- Oct 7, 2007
- Messages
- 699
Bit of a dumb question, but I have a property under contract that I am looking to assign to another buyer (for a fee) and am wondering the exact process.
Obviously the new buyer assumes the purchase contract based on the terms that I negotiated and would pay the fee once it is signed over to him, but what happens to my initial deposit that I put down with the realtor? Do I collect the deposit amount from the assignee of the contract, or from the realtor?
Thanks!
Obviously the new buyer assumes the purchase contract based on the terms that I negotiated and would pay the fee once it is signed over to him, but what happens to my initial deposit that I put down with the realtor? Do I collect the deposit amount from the assignee of the contract, or from the realtor?
Thanks!