Understanding Your Transaction Options
Different selling methods carry different responsibilities, risks, and trade-offs.
Educational overview: These explanations are general and do not replace transaction-specific disclosures, signed agreements, or independent legal and financial advice. Availability depends on state law and the facts of the transaction.
Direct purchase
ICONIQ may contract to buy a property as principal. A direct investor purchase may be as-is and faster than a traditional listing, but the offered price may reflect repairs, financing, carrying costs, risk, and investor return requirements. The contract identifies the purchaser, price, contingencies, and closing obligations.
Wholesale assignment
Where lawful and permitted by contract, ICONIQ may enter into a purchase agreement and later assign its contractual rights to another buyer. The seller should understand who is obligated to close, whether assignment is permitted, and how any required disclosures and consents apply. ICONIQ may receive compensation through an assignment arrangement, subject to applicable law and contract terms.
Novation or alternative marketing arrangement
A novation or similar arrangement can change or replace contractual obligations with the agreement of the required parties. The written documents must clearly explain any authority to market the property, the parties' roles, seller obligations, potential buyer involvement, compensation, and what happens if the anticipated sale does not close. The specific legal effect varies by agreement and state.
Subject-to existing financing
In a subject-to transaction, title may transfer while an existing mortgage remains in the original borrower's name. Unless the lender formally releases the borrower, the seller generally remains liable on that debt. A transfer can also trigger a lender's due-on-sale rights, and late or missed payments can damage the seller's credit or lead to foreclosure. These arrangements require careful legal, title, insurance, and servicing review.
Seller financing
Seller financing allows the seller to receive some purchase price through payments over time instead of receiving all proceeds at closing. Terms may include a down payment, interest, maturity date, security instrument, servicing arrangements, and default remedies. Credit, regulatory, tax, and collection risks should be evaluated by qualified professionals.
Net proceeds and existing obligations
ICONIQ may propose no additional ICONIQ commissions or certain covered seller closing costs under a specific agreement. However, mortgages, liens, taxes, assessments, prorations, and other obligations must still be accounted for. A written net-proceeds illustration should explicitly identify what is included and excluded; only signed agreements and final closing documents govern.
Independent review and local requirements
We encourage homeowners to consult independent real estate counsel, a licensed tax professional, and their mortgage servicer where relevant. Licensing, advertising, disclosure, foreclosure, consumer protection, and contract requirements differ by state. Not all strategies are available for every property.