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Keego Harbor, Oakland County

Assignment Contracts in Keego Harbor, MI

Compare wholesalers & investor services who handle assignment contracts in Keego Harbor, see what the job includes, and get free quotes in minutes.

Assignment Contracts in Oakland County
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Assignment Contracts in Keego Harbor

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The job

What assignment contracts usually includes

  • A written purchase agreement that states whether it can be assigned
  • A separate assignment agreement naming the new buyer and the assignment fee
  • Earnest money terms: who holds it and when it becomes nonrefundable
  • Inspection and access period for the end buyer
  • Title commitment ordered through a title company
  • Clear disclosure to the seller that the contract may be assigned
  • Closing date, possession date and who handles occupants
Price

What drives the cost of assignment contracts in Keego Harbor

  • Size of the assignment fee the wholesaler adds on top of the contract price
  • Earnest money amount and whether it is at risk
  • Property condition and the repair scope the end buyer must budget
  • Title issues such as liens, unpaid taxes or water bills
  • Whether the house is vacant or occupied
  • Closing costs, recording fees and title insurance split between parties
  • Time left before the contract closing date
  • The age of the home: the typical Keego Harbor home was built around 1975, so older materials, lead-safe rules and hidden damage can add time

Before you hire in Keego Harbor

Lead-safe work rules apply to most homes

The typical home in Keego Harbor was built around 1975. Painting, window, siding and remodeling work that disturbs paint in homes built before 1978 must follow the EPA lead-safe (RRP) rule. Ask any contractor for their RRP certification before work starts.

Pre-war construction

24% of homes predate 1940. Expect plaster walls, balloon framing and possible asbestos in old pipe wrap or floor tile; test before demolition with a licensed asbestos contractor.

Permits: check with the Keego Harbor building department before work starts.

Compare quotes

How to compare assignment contracts quotes

  • Ask for the signed purchase agreement and the assignment agreement before paying anything.
  • Confirm the contract allows assignment and the closing date is realistic.
  • Order your own inspection and a title commitment.
  • Ask whether the wholesaler holds a Michigan real estate license and how they are paid.
  • Have an attorney review both documents, especially earnest money terms.

Other wholesaler services in Keego Harbor

Assignment Contracts near Keego Harbor

Assignment Contracts in Keego Harbor: FAQ

Michigan has no specific wholesaling statute, but broker licensing rules can apply depending on how the deal is marketed and negotiated. Talk to a Michigan real estate attorney about your situation.
There is no set price. What you pay depends on the assignment fee, earnest money, closing costs, title work and the repairs the property needs.
If the purchase agreement is assignable, the seller usually does not sign again, but good practice is to disclose the assignment in writing. If the contract bars assignment, it cannot be assigned without the seller's consent.
Compare the pros on this page, starting with verified and claimed profiles, or send one free request and it goes to pros who serve Keego Harbor.
It depends on the scope. Ask the Keego Harbor building department, and expect a licensed contractor to pull any permit the job needs.

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