If another investor has a property under contract and you know he/she is going to assign the property to you for a fee, is it standard practice to look at the contract before making your offer? I dont see how I can make an offer on a property that is under contract without first seeing the terms of the contract thats about to be assigned to me. Any feedback is much appreciated. Thanks…
Good afternoon guys. Can someone please help me out with this question? Thanks.
If the person is truly doing an assignment for a fee and not a double close then it’s not unreasonable for you to ask to see the contract for the terms (closing date, etc.) You definitely have to see the contract before you pay any assignment money.
What is the reason they don’t want you to see the contract?
Probably not much response because the question may be too basic for some or not make sense . You’re going to buy a property by having it assigned to you, but you’re asking if it’s ok to see the contract. YES since you’re bound by it.
You may want to read the articles on this site about working with assignments since it will answer the basics.