Wholesaling REO contract to end buyer???

Question

ok so I have a property under contract and I have and end buyer what contract do I use to get the end buyer locked up. and will this contract be the same if i want to assign it or quit claim it. any info would greatly help me I want to secure a deposit and I need to know how to handle this and seem professional in doing so.

thanks you guys are great and have helped me so much already

Andrew Massaro · Answer

Does it matter who the seller is?  This is the B - C transaction.  Just use a purchase contract, and double-close.

Keith Saunders · Answer

Really need more info about your deal. Who is the contract with? 
A home owner or a bank?
Do you want to assign it?
If so are you doing a double closing?

If you have the contract with the home owner, then I am assuming you signed a simple buyer will buy and seller will sell contract.

If its through a bank its a full flegged real estate contract with a no assignment clause.

Too many variables to go over without knowing more about your contract and deal.

Dave Smih · Answer

You are correct but I need to know what contract and what wording to use when locking up an end buyer for a property. I gave a bad example above but won't the end buyer contract be similar regardless of the closing strategy?

James Hiddle · Answer

Did your contract specify you can assign the contract? Banks add a no assignment clause to their contracts as they don't want anyone to wholesale the property.

Wholesaling REO contract to end buyer???

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