Posted by JohnWe (NoCA) on January 19, 2000 at 09:51:28:
Cross out the entire clause.
If the seller doesn’t agree that will be a problem for you assigning it to someone (obviously). Try to negotiate around it.
In the future, don’t use these standard contracts. It’s better to have your own standard contract that makes the contract freely assignable.
Assignment clause? - Posted by Grace S
Posted by Grace S on January 19, 2000 at 08:45:14:
I am interested in assiging my sales agreement to another investor. I have a standard realtor’s agreement of sale contract with my buyer. Under the section titled “Assignment” It states, “The agreement shall be binding upon all parties and heirs and to the extent assignable, it being expressly understood however that buyer shall not assign or transfer without written consent of Seller”. Is there anything here that needs to be crossed out (especially part about written consent)?? If owner does agree, does this mean I am no longer have any obligations? What if he doesn’t agree?
Thanks for any help!!