Assignment Clause Not Allowed in SS Contract ???

Foreclosures, Short Sales, Tax Foreclosures
1

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

2

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.