I just got an addendum from my agent that Wells Fargo is having buyer sign. One of the items states: “Parties agree that under no circumstances will the sales contract be assignable”
Vesting on my contract says: “my name vesting TBD @ closing” and also has an addendum that states: “buyer has the right to take title in the name or entity of his/her choosing”
Now my intention was to wholesale it to a cash investor. Do I have to sign this? How can I still manage to assign the contract?
Hi,
Yes, WF will make you sign it prior to approving your purchase, but rather than assign the contract, use AB / BC provisional short term funding, take title and sell it to your end buyer!
GR