About to wholesale my first property!
I have found a great property, negotiated an awesome price on it placing it well below the 70% LTV that most investors are looking to meet.
Here is my question: I wrote a contract on the property with my name as the buyer and "and/or assigns" after my name. I have a buyer lined up for the property. Will I have to have that person write their own contract to buy it from me, or could I just have their name after the "and/or assigns" on my contract. And, if I just add their name to my contract, do I need to write an addendum for my assignment fee?