Cardiff, Cardiff · Member since 2015 · 21 posts · 2 votes
Hello the giving community of BP,
First of I'd like to announce that inspired by BP Podcasts I've started blogging my journey in becoming a master Wholesaler and Property Investor. Will share link tonight.
Meanwhile I, as always, have a couple questions ;)
1. When assigning do you get the Seller to sign one contract and buyer another ? Or do you leave the assignee's doted line empty and write your cash buyers name on there?
2. If Cash Buyer wants his property lawyer to register the deal how would I explain to him that I'd need my lawyer or title company to do the deal?
Investor · Nashville, TN · Member since 2015 · 688 posts · 607 votes
10y
1. Seller signs a purchase and sale agreement for you to buy the property at price x. Once this occurs, you have the buyer sign an assignment contract for price y
2. register the deal? is he talking about a memorandum of contract? or use his title company? memorandum of contract is fine. using his title company is a no go. Use your title company
Firefighter · Sacramento , CA · Member since 2015 · 50 posts · 8 votes
10y
@Arash Zandi no you do not pay the seller. The buyer will, once you assign the contract to the buyer. You are no longer doing business with the seller. The buyer will now continue to close on the property.