Re: Attn:Jackie in Dallas - Posted by Jackie in Dallas
Posted by Jackie in Dallas on December 14, 1998 at 21:31:00:
I tell the Seller that I work with several partners and one of more of them will need to inspect and approve of the purchase of the property. I tell the seller that if they do not approve I’ll let him/her know asap ( I also let them know when they DO approve)I add that one of the partners may take title to the property at closing instead of me.
If the house is vacant(and it usually is) I ask for a key to the house at the time the contract is signed so I don’t have to bother the Seller to let my partners in for inspection. Sometimes we’ll agree to just hide a key somewhere on the property or the Seller will give me the code to the lock box.
I don’t say anything about the contract being assigned - they wouldn’t understand what in the world I was talking about anyway.
There is however a clause in my contract that gives me the right to assign the contract and once assigned, the Seller agrees that I’m relieved of all liability.
Since the Seller doesn’t know who my partners are – I’m usually at closing to make sure everyting goes smoothly. If I decide not to be there, I notify the Seller who will be at closing.
My title company understands flipsor assignments and handles the whole transaction very smoothly. The Seller never knows what my “partner” paid for the property.