If i make an offer to purchase a property with an offer to purchase agreement do you need a real estate contract if they are one in the same ? An with an offer to purchase agreement does it come with an assignable clause or do u need an assignable contract if you want assign the property to an investor ? :smile
I’m not sure there is a difference between a purchase agreement and a real estate contract…it might be a matter of semantics and your location. Of course the agreement or contract would not be ratfied until all parties have signed so I suppose that is the difference with an “offer” to purchase.
All contracts are assignable UNLESS otherwise stated. In my experience most “standard” contracts do include a non-assignability clause that I either 1) strike through and initial, 2) write my name and/or assigns anyway, or 3) “buy” in the name of an LLC and “sell” the LLC…
When i draft my offer, i list the buyer as my company name and/or assigns. This will allow you to easily assign the deal.
Chris :cool