If im understanding the below text I cant assign the contract to another buyer without the sellers consent. should i try and push my much simpler contract or just request this one be changed so that i can assign with out consent of the buyer.
16.2. Assignment of Agreement. Buyer shall not assign this Agreement without the express written
consent of Seller. Seller may assign this Agreement at Seller's sole discretion without prior notice to,
or consent of, Buyer. In no event shall any assignment by Seller relieve Buyer from Buyer's
obligations under this Agreement. If Buyer attempts to or actually assigns or delegates the Agreement
without obtaining Seller's prior written consent, then the Agreement may be deemed null and void at
Seller's discretion. In the event that Seller chooses to nullify the Agreement for this reason, then
Seller shall not be required to refund the Deposit to Buyer
Why not just double close in lieu of assigning the contract? If the seller doesn't sign off on your version there's no deal, right. Is it worth it to risk losing the deal...
No, you won't be able to change these contracts, and Certainly they will not entertain yours.
Example: so close first for my asking price of say $50000 then close again for sellers asking price of $40000? Not sure this would work because I wouldn't have ownership to do this besides the sellers contract.
Hubzu is not the swiftest group to work with; in my dealings there is always a surprise and a delay and they are very difficult to communicate with. Food for thought.
John Moore, John Moore Homes | 570 620‑8080 | http://www.johnmoorehomesllc.com
You should not expect to assign REO or Short Sale deals. You will have to do two closings.
Phil Z., TOP END Properties | 203‑936‑7776 | http://www.rehabhousesinct.com
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!