Assignment of contracts

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Hoping someone can help me here.. I found a property that is an awesome sea and has tons of upside potential for an investor but it doesn’t meet our company criteria. That being said, I would like to try and agree on a price for the property and assign it to another investor.

Is it possible to assign a Letter of Intent or does the property physically need to be under contract in order to assign it?

My reasoning is because we don’t want to put down the earnest deposit and lose it if no one bites..

We are new to the assignment of contracts so hoping someone can help!