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Updated about 10 years ago on . Most recent reply

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Blake Reynolds
  • Salt Lake City, UT
27
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86
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How to assign a contract

Blake Reynolds
  • Salt Lake City, UT
Posted

When wholesaling what is the order of actions after you get a purchase agreement signed with a seller? Assuming I will be assigning a contract.

Do you submit the PA to the title company first and then try to get a buyer to assign it to or should you assign the contract before submitting any paperwork to the title company?

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130
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Laurie Johnson
  • Real Estate Broker
  • Jacksonville, FL
30
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130
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Laurie Johnson
  • Real Estate Broker
  • Jacksonville, FL
Replied

Since you are new I would make sure that you can get a buyer first if you do not plan on keeping it. Once you give it to title company someone will have to pay them for a title search even if it is a soft search. Make sure it is a deal first.

@Kelly A. 

I would not get a realtor involved especially if you are not familiar with the process. Learn the process most realtors are not investor savvy so they could be more harmful then good. Plus why pay someone when you can do it and learn, (I am also a RE Broker) If you are nervous find your local REIA and ask the person who runs about the deal. (get it under contract before talking to anyone)

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