Updated about 16 years ago on . Most recent reply
Verbage in assignment contract
Do you have to explicitly state the amount of assignment in the assignment contract.
OR
Can you phrase as so
"Assignment fee will be the difference between Assignor's contract and Assignee's purchase amount of $__________)
I've encountered certain scenarios where this would be beneficial.
Thoughts ideas?
Most Popular Reply
Mine states:
"NOW, THEREFORE, for and in consideration of $________________ received as earnest money by Assignor and the balance of $________________ to be received by Assignor at closing of Contract for Purchase and Sale of Real Estate, the sum of _____________________________________ DOLLARS ($_______________), and other good and valuable considerations, the receipt and sufficiency of which are hereby acknowledged, Assignor has assigned, transferred, sold and conveyed and by these presents does hereby assign, transfer, sell and convey unto Assignee all of Assignor's rights, title and interest in, to and under said Contract for Purchase and Sale of Real Estate."



