All Forum Posts by: James Ian Murray

I would appreciate any nods to any wholesaler-friendly title agents in Dallas (assignments, double closes, dry closes, closing in escrow,etc.) Thanks in advance

Thanks Matthew

I an in need of a nod to assignment-friendly title agents/companies in Houston. Any suggestions would be greatly appreciated 

Can Somebody share a good assignment contract/ purchase agreement to use in Dallas,TX? Thanks in advance for any help

Thanks Lamar and Joe! I am definitely very honest when going in, and I will always explain that I am assigning to a cash buyer before I sign a purchase agreement. Thanks for all positive feedback

Allan, it's listed at around 40k below ARV but I'm shooting for about 90k below ARV. giving room for 30k for a rehab would put it at around 170k initial for a 220k sale. That doesnt seem like a good deal for the investor? I'm asking honestly, and I appreciate any and all advice as long as it's not cynical or arrogant. Not saying you were.

Joe, I'm doing a walk-through tomorrow and the seller is highly motivated due to being close to preforeclosure movement. He has 25 yrs. Equity in and it is already listed about 40k below ARV. I'm, of course, gonna shoot a much lower number( about 55k lower), but I am trying to hammer out all of the details before I get locked in to my first detail. It just hit the market last Thur, but he needs to sell fast. Pray for me

Thanks, Chris. I don't want to seem daft, but I could use a little more clarity on a couple questions.

1. As long as the agent's purchase agreement is assignable, do I need the seller's signature on my assignment contract?

2. I can't put a house under contract in my name on the realtor's/seller's purchase agreement and then sign my name as assignor as in this sample?

Assignment of Contract For Purchase of Real Estate
For value received, I, _______________________________ as assignor, herby transfer and
assign to __________________________________________, as assignee, his heirs and assigns,
all rights and interest in that contract between ________________________________________,
seller, and assignor _____________________________________________________, as
purchaser dated the ____ day of __________________, 20___ for the sale of premises known as
_________________________________________________, more particularly described in said
contract, subject to the covenants, conditions, and payments contained in said contract. I
authorize and empower assignee, on his performance of all the above mentioned covenants,
conditions, and payments to demand and receive of seller the deed covenanted to be given in the
contract hereby assigned in the same manner and with the same affect as I could have done had
this assignment not been made.
Dated: ______________________, 20___
______________________________
Purchaser/Assignor
______________________________
Purchaser/Assignor
Acceptance by Assignee
I, ______________________________________________, accept the above assignment of that
contract made the ____ day of ______________, 20___. I agree to perform all obligations to be
performed by assignor under the contract, and to indemnify assignor against any liability arising
from the performance or nonperformance of such obligations.
Dated: ______________________, 20___
______________________________
Assignee
______________________________
Assignee
Consent by Seller
I, __________________________________________, the Seller named in the contract herein
assigned consent to this assignment to ____________________________________, assignee.
Dated: ______________________, 20___
______________________________
Seller
______________________________

Do I have to have the sellers permission if I am assigning a property that is listed by a realtor and I let the agent know exactly what I'm doing?

this is one of the contracts that I have. It doesn't have a line for the title company's name. Does this seem like a legit contract to use? It is my understanding that I use the realtors purchase agreement, find out if it's assignable, and have this one filled out for the assignment fee. Does that sound right?