I currently have a property that is Lease to Own.
If somebody is interested in purchasing right away instead of doing a lease purchase, how have you all handled the assignment fee that you have already calculated in a CA?
Do you just collect the full assignment amount now & then you are out of the deal?
I am thinking maybe the buyer would not likely want to pay the assignment fee which is around 3% since this is not a wholesale deal, but the value is in the length of the lease & not the price of the house.
Should the assignment fee be reduced from 3% because most of that value is in the length of the lease that gives a buyer time to get their finances in order?
For example, I know that when a tenant-buyer provides the option consideration (assignment fee), they know that is non-refundable.
But I am wondering if somebody wishes to purchase right away, then pays an assignment fee, then something happens where they don't buy then they lose the 3% assignment fee; then what? I'm sure they wouldn't be too happy & would likely want the 3% given back to them even though it is non-refundable.
Hope this makes sense?!