Updated over 16 years ago on . Most recent reply
Assignable Contracts
I would like to know if the following can be done? Can a Real Estate Broker (broker of recored) go to contract in his name on a destressed property offering say $50,000 give all details to Title and then assign the contract to a friend who is offering $100,000 with a loan from a hard money lender. Broker makes the commisssion on the sale for $50,000 and splits the $50,000 with assignnor? Is this transaction legal? And can this be done multiple times in same names?