Assignment of Contract clarification

Assignment of Contract clarification

Real Estate Investor · Chicago, IL · Member since 2014 · 44 posts · 19 votes

Hey guys. If the Assignment of Contract says Seller sells property as-is with no warranty of property conditions. Do we still get an estimate of repairs for/to the buyer or do we let them handle that aspect? More than likely they are going to go look at the property and determine that for themselves anyway, correct?

**Got the contract off of this website in the Resources section under Files.

0Reply
16 views

3 Replies

Jump to latestLatest
  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    12y

    WHO is your target buyer?? Home buyer, buy and hold investor, rehabber??

    Depends on the level of buyer sophistication.

    Likely they will not believe your reports anyways if you are assigning for a fee because you have a beneficial interest in making money off of the property.

    No legal advice.

  • Real Estate Investor · Chicago, IL · Member since 2014 · 44 posts · 19 votes
    12y

    @Joel Owens Mainly investors and rehabbers. So, the contract given on this site is okay? I don't have to change the "As Is" portion to reflect an estimate of repairs given, I just need to make sure I calculate that when I negotiate pricing?

  • Real Estate Investor · Chicago, IL · Member since 2014 · 44 posts · 19 votes
    12y

    Never mind I got it. Thanks again.

Join the conversationCreate a free account to reply, vote on answers and follow this thread.