I have secured my first deal and I have found a buyer! My question is: I have a contract with a seller for a sfh for 40k and I am wholesaling it an end - buyer for 50k.
What [form(s) (contracts)] do I need to use to transfer the agreement of sale to my end-buyer and not jeopardize my profit in the deal??? :help
Doesnt your contract have an assignable clause in it that allows you to assign to contract to another buyer?
Basically you want to assign your contract with a contract assignment form. You also want to try and get most if not all of your assignment fee ($10,000) at the time you assign it.
when you put the home under contract in the first place be sure that you have “your name and/or assigneed” on the signature line. That will allow you to assign the contract, then use a contract assignment form to assign the contract over to another investor.