Newbie Wholesaler

[Tami Brooks]

Seasoned investors/wholesalers please assist! I am in the state of California and I need clarification on wholesaling.  When I have signed a contract with my seller and found a buyer to assign my contract to.  Is an assignment of contract document enough or should I draft an actual contract with my buyer plus have he/she sign the an assignment of contract?  

[Kellum Lewis]

Hi Tami. All these terms can be confusing. The Assignment of Contract is also a contract, one that assigns all the rights and obligations you received/took responsibility for under the original contract to your end buyer. Just make sure to run everything through your escrow or title company or lawyer if you're working with one to make sure all necessary documents get completed. Good luck!