first offer need advice - Posted by Joe

Posted by Brent_IL on September 19, 2003 at 16:15:14:

Assignability is determined by state law. In most states, a contract is assignable unless the agreement says that it is not assignable, but some states are the other way around. Check the law in your state.

I use “and/or assigns” on the front of the contract, but it is primarily there for the seller’s agent to scratch out. There are two more assignability clauses on the back side of the offer, at least one of which goes unnoticed. I’ve never known it to be a real problem to sellers.

first offer need advice - Posted by Joe

Posted by Joe on September 18, 2003 at 19:27:14:

I live in Orange County, CA. I need some help with the contract:

Do I need to use the CA Realtor Association’s contract if the property is listed on the MLS?

If the property is FSBO. Can I use the contract from Carleton Sheets? Bill Bronchick(from Flipping Properties book) Or just any stationary store with my own inspection clause on addendum?

Any good suggestion on the clauses?

thanks in advance.

-Joe

Re: first offer need advice - Posted by Brent_IL

Posted by Brent_IL on September 18, 2003 at 20:26:11:

You can use any of the four that you listed. The idea is to match the contracts that you use to what you are trying to accomplish. If you tell us what you plan to do, someone may be able to direct you further.

Re: first offer need advice - Posted by Joe

Posted by Joe on September 19, 2003 at 01:12:11:

Thanks Brent:
I want to startup by bird-dogging to investors. So I’ll be knocking doors from NOD list & newspaper Ads*(after I check the FMV & owner’s equity)…

Do most of the contracts these days assignable unless it stayed non-assignable? “and/or assigns” sounds very frightening these days…

-Joe