California Contract Assignment
Hello fellow investors,
I am working on my first wholesale deal and finally got in contact with the owner of a distressed property. Went to the courthouse, looked up the address, wrote a letter to the mailing address of the owner, and viola! Phase 2. I got a contract (assuming) directly from the owner which is the C.A.R. (California Residential Purchase Agreement) standard one. As I am reading the terms/conditions of the contract I see RED TAPE!! On this contract, it is on line 35 and it says:
35. ASSIGNMENT: Buyer shall not assign all or any parts of Buyer's interest in this Agreement without first having obtained the written consent of seller. . .
As you can imagine, I was devastated. What're your thoughts on getting around this? Is the only way to make a contract assignable by having the written consent of the seller? Any info would be greatly appreciated! Thanks