Making an offer tonight and am really excited and nervous !
so I just want to make sure I am doing the contracts correctly
when I meet with the home owner tonight, I’ll get the Purchase option contract signed by the seller
Then when I find the buyer, I’ll use the assignment contract
Is this right? Anything else that I missed ?
Excellent question. I’d say you’re mostly right, if you’re going to go with a purchase option (instead of just having them sign a purchase contract) once you find your buyer you will want to go to an actual purchase contract with your seller, then have your buyer sign the assignment contract.
#1 - option contract - you and seller sign
#2 - purchase contract (once you find your buyer) - you and seller sign
#3 - assignment contract - you and buyer sign
#4 - submit to closing attorney (or title company)
#5 - buyer & sesller close and you cash your check
#6 - rinse & repeat
You could skip step #1 if you have the right language in your contract.
Good Luck! :deal :beer