I have a quick question…
Once a person signs an ‘assignment of contract’ is that person stuck in that aggreement? If so, why and if not why?
Howdy SD Newbie:
If you are the buyer you will have to buy or suffer the loss of the earnest money and any assignment fees paid. If you are the wholesaler then you can not back out and sell to someone else and you have agreed to accept the assignment fee in the contract and can not demand more and the buyer can not demand less. You may be able to re-negotiate the whole contract and even mitigate the damages on non-performance but you are “stuck”.
LOL