Tennessee Laws for Wholesaling, etc.

[Account Closed]

Hey everybody,

I'm reading and studying as much as I can about creative real estate investing but don't understand exactly how assignment works.

Some places say Buyer B is taking over your position (Buyer A), but then that would make the situation not as profitable.

Also, if anyone from TN would like to reply with tips or heads-up on caveats that would be HIGHLY appreciated. Paying off my student loans at my current 9-5 then planning on going full-in.

[Wayne Woodson]

As @Account Closed stated an Assignment of contract is where a buyer takes over your position (contact) on a deal usually for an agreed upon fee.

 As a heads up, most title companies nowadays will not let you do an assignment of contact. In most cases, you will need to double close or put your buyer's name on the contract and have them quitclaim you off.