Assignment of Contracts

Whenever I put a house under contract to buy I always use the standard Realtor sales contract. If you ever read the contract you will see that it states you can not assign this contract. This being so, if you cross it out and put your initials on it and get the seller to do the same then the contract will now become assignable.

Along with the above, when putting properties under contract to assign I typically put “123 street name llc” as the buyer along with the words “and or assign.” Doing so would allow you to assign the name of the buyer on the contract to anyone you wish.

How does an assignment contract look? Its simply as this:

123 street name llc agrees to assign all rights of the contract written up between x on x day for a fee of x. Please sign below if you agree.

I know it seems very simple but that is it.

Want to learn more on how to wholesale houses? I invite you to look into my 101 wholesale training video.  As always, if you didn’t learn anything from the video just email us and we will gladly refund you your money.

To your continued success

Nick Tang

*This is not being promoted as legal advice. Please speak with your attorney before doing any of the above.

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