I plan to wholesale Property under contract with abandoned property owner So, should I use an assignment contract and do a double close
It doesn't really matter the status of vacancy of the property. I have never done a double close, but I would say it's much easier to do an assignment of contract. People use a double close many times when they don't want the seller seeing how much they make on the deal. I would stick with an assignment of contract.
Two separate issues here Willie. Contract form needed isn't dependent on whether or not the house vacant. Residential contract form used for residential properties, commercial for commercial.
Generally speaking, and assignment of contract will be less expensive than a double close.
@ Guy I understand Residencial vs Commercial contract I guess what I really want to know is Can I assign it the property to My buyer after my purchase agreement with the seller
Sorry Willie...I apparently misunderstood your question. I would presume you could assign but since I don't know the property laws of your state, it is best to leave it up to someone who is familiar.
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