clarify me on the process because i must be a chowder head

  1. someone asks me to buy their house.
  2. i submit an offer
  3. they accept
  4. they sign a purchase agreement between me and them giving me the right to buy their house
  5. I find a buyer for their house
  6. i sign a purchase agreement between me and my buyer
  7. then what??? do we close?

ps. #5 maybe interchangeable with other steps.

We would need to know what it is you’re doing with the property…is this a wholesale, a flip,…or?


this is a wholesale.

You don’t sign a new purchase agreement with your investor/buyer. You sign an “assignment of purchase agreement”. So, you’re actually signing an assignment contract, usually one page long, that states that the original purchase contract you have with owner/seller is now theirs, and that they are now responsible for all agreements and clauses in that contract. Which they pay you for that right of course! :smiley:

where do i get an assignment of purchase agreement comtract and if my buyer is using a mortgage of any kind is this okay.