language used on purchase agreements you will assign

Wholesaling
17yFollow

language used on purchase agreements you will assign

Troy Michaels
Real Estate Investor · Atlanta, GA · Member since 2009 · 117 posts · 7 votes

what basic language is used on a contract you want to assign? i , joe blow, and or assigns, buy this property etc. etc.?

0Reply
13 views

3 Replies

Jump to latestLatest
  • Josh Green
    Financial Advisor · Tampa Area, FL · Member since 2008 · 956 posts · 214 votes
    17y

    yup. i've also heard of people putting something to the effect of 'must be approved by partner' in one of the contingencies as an escape clause.

    0Reply
  • Curt DavisBusiness Member
    Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
    17y

    Are you assigning property from an actual home owner? This will not work for a bank REO.

    What I find so interesting is that everyone is so concerned about their escape clause so they can back out. I would suggest having a qualified cash buyer or buyer with a hard money loan ready to go, then lock up the property and sell it to them rather than have a weasel clause to back out of the deal.

    Curt Davis - KAIZEN Realty538 Reviews
    WebsiteView Page
    0Reply
  • Troy Michaels
    OP
    Real Estate Investor · Atlanta, GA · Member since 2009 · 117 posts · 7 votes
    17y

    thanx for the replies. i learned the hard way its best to have a buyer locked up whenever you contract a reo.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free