Assignment or Double Close

[Jason Thompson]

I am trying to establish myself as a virtual wholesaler in NC through agent outreach. I have reviewed the standard APS, and a section explicitly states the contract cannot be assigned. Through the agent outreach method, would it be better to submit an addendum to the standard APS stating I have the right to assign and I intend on making a profit or would a double close be the better approach to leave the agents on a need-to-know basis? THank you, and I look forward to any help anyone can provide me. 

[Doug Smith]

You can usually get a less experienced agent or a FSBO to take an assignment, but if someone came to us on one of our properties wanting to check that box, we would tell them to pound sand. Also, good agents aren't stupid. The agents in our real estate arm tell me they get the same calls using the same wholesaler guru scripts every day. They would much rather have someone be honest and up front with them that to try to pretend that they are an end buyer. Trust me...they can smell it immediately. The other issue you might run into is licensing. Many regulators are considering assignments to be unlicensed real estate activity where, if you are doing a double close, you're taking title...albeit for 30 seconds...to the property and that's not going to usually require a license. Good luck to you in your new venture.