Assignment of Purchase Contract? - Posted by Marty_CA

Posted by Ed Copp (OH) on May 23, 2000 at 11:11:15:

Marty,
There is a good form available at: Legalwiz.com
click on forms…ED

Assignment of Purchase Contract? - Posted by Marty_CA

Posted by Marty_CA on May 23, 2000 at 10:41:19:

Has anyone heard of or done this? I am wondering, instead of trying to accomplish a simultaneous closing to consumate a flip of a wholesale SFR, why not assign my position on the purchase contract for a $ consideration? I believe I would need the seller to agree in writting. Is this do-able?
It seems to me it would be a “cleaner” way to flip…

Thanks for your comments.

Re: Assignment of Purchase Contract? - Posted by Jim

Posted by Jim on May 23, 2000 at 15:33:11:

Marty,
Yes, that’s how I do wholesaling to investors. My Purchase and Sales Agreements mysteriuosly are missing any mention of assignablity except for the seller. So, it’s fully assignable!
I never take title and make a good profit on each. I let the investor deal with the closings, the repairs and everything else.