Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 10 years ago on . Most recent reply

User Stats

4
Posts
1
Votes
Major Jones
  • Oakland, CA
1
Votes |
4
Posts

California Contract Assignment

Major Jones
  • Oakland, CA
Posted

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

Loading replies...