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 7 years ago on . Most recent reply

User Stats

16
Posts
1
Votes
Joshua Horn
  • Pottstown, PA
1
Votes |
16
Posts

Newbie with an easy question?

Joshua Horn
  • Pottstown, PA
Posted

I feel like this is an easy question, just looking for an easy straight forward question. (Scenario): I find a seller, he agrees to sell his house to me at a good price, I plan to assign the contract to an end buyer. After I have the house under contract, do I take that contract to the title company? Or do I wait to get an end buyer to sign a contract to buy it then take both to the title company? Or does the end buyer talk to the title company on his own and then they call me and I bring in the contracts? Can someone give me an insight to what happens once everyone signed the right contracts, how it all goes down?

Most Popular Reply

User Stats

13,517
Posts
19,607
Votes
Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
19,607
Votes |
13,517
Posts
Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
Replied

1 - You get an accepted offer with your name as :<your name> and as/or assigns.

2 - You sell the Purchase Agreement to someone else (the assignment) by using an addendum stating you are assigning the P.A. to them.

3 - You get paid your assignment fee when both parties sign the addendum

4 - The NEW buyer, based on the "assignment" closes.  You're gone.

or, there's a better way...

Loading replies...