Assigning Contracts - Posted by Brian W(IN)

import · April 16, 1999, 3:06pm

Posted by Brian W(IN) on April 16, 1999 at 16:22:42:

Thanks JPiper for this information. You have helped me alot. I can’t put in words, how much you, along with others on this site have helped me get started in this business. Again, I say thanks.

import · April 16, 1999, 3:06pm

Posted by Brian W(IN) on April 16, 1999 at 15:06:46:

I am curious. At what point in assigning a contract, do I, as a wholesaler, leave the picture. Is it when I sign an assignment agreement with an investor?, or Is it when I send all paperwork to the title company? I need to know this just in case I need to assign a contract instead of doing a simultaneous close.

Also, when I have a copy of the purchase offer and the assignment agreement, do I send both of them to the title company or just the purchase offer agreement?

Thanks in advance for your responses.

import · April 16, 1999, 3:49pm

Re: Assigning Contracts - Posted by JPiper

Posted by JPiper on April 16, 1999 at 15:49:56:

When the assignment agreement is assigned and you have got your money in hand…you’re through. If your assignee is inexperience you might want to continue to stay involved through closing…but if you’re wholesaling this will not typically be the case.

I take the purchase agreement to the title company immediately…prior to the assignment. This is part of what generates a title report. Later, when you have assigned…take that to them as well.

JPiper