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Real Estate Investing Forums
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Assignment Clause Not Allowed in SS Contract ???
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Topic: Assignment Clause Not Allowed in SS Contract ??? (Read 5142 times)
LAdreams
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Posts: 57
Assignment Clause Not Allowed in SS Contract ???
«
on:
June 07, 2006, 06:04:09 pm »
According to Thomas Lucier's book "The Pre-Foreclosure Property Investor's Kit", he states that 99% of all lenders will not sign a Purchase Agreement that contains an assignment clause, within a short sale offer.
Has anyone ever experienced this issue?
Thanks!
-Larry
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Larry Achtman
North Georgia Investment Properties, LLC
Dacula, GA 30019
E:
[email protected]
reiauctions
Member
Posts: 888
Re: Assignment Clause Not Allowed in SS Contract ???
«
Reply #1 on:
June 07, 2006, 07:38:34 pm »
It's been my experience that lender's will not execute a purchase agreement with assignability on a short sale or an REO property they own.
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