I have this seller who I have a Purchase contract with and I already give it to the title company to start the title work, in my contract I have the right to “and or assign” my contract. I have my buyer which I want to assign my deal to but he can’t pay me the cash up front, how do I get my cash out?
Cleo
you cant force a buyer to pay if he doesnt want to pay.
i suggest to find a buyer who can pay up.
On your assignment contract you always want to get paid up front. Before you assign, you must verify funds – this is to protect you & your seller. But in this case, you need to state (on the contract), that you get your fee at closing. Do your homework – verify funds.
well he really wants the home and he certainly can’t give me 15,000 thousand dollars for the contract up front, by the way I am speaking of a individual not a investor. He has told me that he could come up with 4 grand I may just take the 4 grand for my contract and move on.
cleo