assignment question

Bird Dogs, Wholesaling
1

Alright so I was doing some research online and I found this assignment contract.
Assignment of Contract

The undersigned Assignor, having executed a contract dated _____________________ between

Contractor

and

Contractee

concerning the property described as:

_____________________________________________________________________________,

hereby assigns all rights to said contract to:

(“Assignee”)

in exchange for compensation in the amount of _______________________________________.

Assignee agrees to fulfill all terms, conditions, and contingencies of said Contract and to perform as required in good faith and within any time periods established by said Contract this _____day of ________, 20.

Assignor

Witness

Assignee

Witness

anyway

heres my question. if i find a home owner or an abandonded home, and i negotiate a contract with the home owner and write by the buyer my name and/or assigns, then what do I do with this contract above?

do i fill it out and send it to the title company? or do I simply fill it out, have the investor pay me for my find, and move on?

do I need to go to closing with the investor so he/she doesnt get scared?

what do I do?

2

Howdy Mactherabbit:

You can handle it ant way you want. You should already have the title company doing the title work. Since you have already established the relationship you may want to take it to them and introduce the new buyer. Some agreements have a place for them to sign for additional earnest money if any.

If you have the money in hand then you not not do anything else. Just tag um and bag um. If you stay involved all thru the process and go to the closing you will possibly learn from the experience and will also be able help iron out any problems. You may want to do this to show the seller and buyer that you are professional and have both their interests in mind. You can take either approach or even a middle of the road where you tell both to call if there is a problem and you will help if you are able.