Are there any stipulations to the “and or assigns”? Is this acceptable in all contracts?
Once I have tied up a preforeclosure, am I limited to the standard contract outs like inspection or resale certificate? Is there anything that can be added like a contingency for not being able to assign?
Bajamas
It’s acceptable in most contracts. Its usually not accepted on REO properties.
You are only limited by what you write in the contract and get a seller to agree to. You have the option of being up front with the seller and telling them you are working to find a buyer, but if you can’t you won’t be able to close.
That strategy may cost you some deals, but if you come off as having experience and confidence that you can find a buyer, they probably won’t have a problem with it.
negotiations are the greatest thing about real estate. sure they can be a pain in the rear, but that’s all in how you look at it.