Posted by chris-atl on October 28, 2003 at 06:44:18:
If it is a quick flip, you won’t actually take ownership. You are in essence selling your right to purchase the property to another person for a fee. The terms and price of the sale with the seller are set, and you are just selling your right for a markup, called your assignment fee. To sell your right, you would use an instrument called an Assignment of Purchase and Sale Agreement. You can find one here:
Hope this helps.