ASSIGNING CONTRACTS

Bird Dogs, Wholesaling
1

I plan to tie up real estate with the intention of assigning contracts to other investors/buyers.

What contracts do I need to do this? (i.e. Offer to Purchase, Assignment Contract, etc)

Do I need to modify any of these contracts for my own protection?

I am reading and hearing that there are clauses I may need to add to minimize my risk.

Thanks.

2

A PSA and an assignment contract.

3

Absolutely! I don’t recommend just using a standard template that you find online. Those can be a good start, but have your attorney fill in the gaps.

4

Some are saying I need a PSA and an Assignment Contract to assign without being obligated to buy.

What about the Offer to Purchase? Isn’t this contract used initially to make the offer? If I make an offer, could that be assigned before the PSA?

Thanks everyone!

Adrian

5

PSA??? Sorry, not in REI abbreviations. Can anyone clarify? Thanks!

6

PSA = Purchase and Sales Agreement

7

OK, EVERYONE SAYING PSA, WHAT ABOUT THE LAND TRUST THEN THE ASSIGNMENT CONTRACT OR LLC PURCHASING TO AVOID MORTGAGE FRAUD FOR FLIPPING, JUST ANOTHER IDEA