Assignment Contracts
I went to put in an offer on a package deal with a real estate agent. At first I just wanted to do a LOI, but they said they don't do that. So we proceeded to talk about the purchase offer. Of course, I am nervous about it and asking questions. I just want to make sure I am covering my butt. I want to put in an offer and have contingencies to get out if needed.
So I asked about the contract and if it is assignable. The realtor didn't really know what I was talking about. I explained that I wanted the contract to be assignable in case I wanted to assign it to another investor. She said the contract did not have that in there. She said that may be only in "big cities". I told her that I would talk to my attorney and see if they could write up a contract.
I have researched and studied the past 6 months and I am ready to start investing.
I just want to know if anyone else has had this problem with contracts and purchase offers.