i dont really want to use a buy and sell agreement (standard Purchase agreement). is it okay to use either an Option to Purchase Agreement or Affidavit of equitable Interest and are these contracts assignable. i dont really like the buy and sell agreement for wholesaling, i like it for my rehab deals. what do you think. i am actually still learning all the tools in the contract toolbox so, please help me shorten this learning curve.
Howdy Only1Minya:
Yes an option is assignable unless it is forbidden the the agreement. I as a buyer would not put much faith an an affidavit of interest unless it was signed by the seller and recorded. Why don’t you like the EM contract approach. Seems like it would be easier to get the seller to sign and your ultimate buyer as well.
because i just want to assign them. i am still learning the contracts, so i dont know what sections to fill-in for assignments. like cash, new mortgage, land contract, etc. no one is really helpful with contracts. i just dont want to be jerked in the end because i used the wrong contract.
I am working on finding my first home to wholesale. I really need advice about the proper steps to take to get this running. can someone please help.