Assignment of Contract question?

Assignment of Contract question?

If I were to do an assignment of contract would I have to have already signed the purchase contract with the seller for me to assign it over to the new buyer? Or would I have to tear up the original contract and have the seller and new buyer make a new one on the spot for it to count as an assignment of contract? I don't know how all that would work, could someone please fill me in on the details. Thanks.


"Open minds backed by knowledge, wisdom, persistence, and determination equals unstoppable excellence"

- wrecklessKane

You just sell the contract.

If you are selling to a cash buyer, they pay you your assignment fee (which is agreed upon in the "assignment " contract). Then you hand over the original purchase contract (which YOU will have signed "your name or company name and/or assignees), and they close as the buyer. Simple as that. Smiling Hope that helps.



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I am going to suggest that you post this same question as a new post instead of a reply. You will get better responses this way.


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