assigning a deal in California
Hello my California colleagues,
I have wondered for a long time about the legality/ethics of assigning a California Association of Realtors (CAR) residential purchase agreement to another buyer, as in the situation of a wholesaler bringing in a cash partner to close on a deal they made.
I have been told you cannot assign the contract. For years I have searched for the "secret" of how it is done because I *know* people are making money from wholesaling.
I stumbled across proof-positive undeniable advisory from the authority.
Contracts are assignable with the seller's consent. State your intentions early, have it in writing (I somehow believe this can be as simple as a handwritten note - please verify yourself), get a signature, keep the deal moving along.
Nothing mystical. Nothing behind dark curtains. No boogeymen.
Here is a link to the document. It is 30 pages long but the portion you need to see is pictured below, page 23 I think.
I sincerely hope this clears up any clouds around the subject that some people may have. I feel like I discovered the wheel! LOL
