How do you make a purchase contract “assignable”?
Do you write in the contract that it’s assignable. If so, what exactly do I write?
What is the differernce between a purchase contract and a option to purchase contract? I am figuring they are the same, but why would a person choose one over the other?
Do you need these contracts notorized?
What are weasel clauses? Can someone give me a for instance and tell me where these clauses would be on the contract?
Your help would greatly be appreciated.
Hi - In your contract where your name is written in , add in the phrase “and assigns”. That way you are able to assign the contracts to someone else.
I’ve never seen a purchase contract notorized.
An option to purchase is just that - you have so many days to use your option to purchase the property. Use it if you want to put a hold on the property without actually making an official offer. Then use the purchase contract to make the offer.
Not sure what a weasel clause is - but it might be a clause that lets you “weasel” out of the deal should something come up during inspection that you don’t like – or weasel out of the deal no matter what. Maybe someone else can explain.
Good luck.
weasel clauses are just its a clause put in the contract that will let you get out …subject to partners approval would be one