And or Assigns (Is the Wholesaler Liable)

[J Woodfin]

I am selling a property and the buyer has put and/or assigns behind their company name on the RPA. The deal is currently in jeopardy because the buyer was supposed to wire the funds to wire EM 4 days ago but never did. I sent over a NTP this morning and promptly got a call from escrow letting me know that the buyer has requested a cancelation. The contract stipulated that there were no contingencies and a 17 day close. I got a call from a realtor this afternoon letting me know that they had a buyer for the property through the person who is in contract with me on said property. This is how I figured out they were a wholesaler not an actual buyer. My question is does the "and or assigns" verbiage release the whilesaler from liability to execute the contract? Or are they liable to purchase even though their buyer fell through?

[John Thedford]

OOPS...they FORGOT to tell you they were NOT A REAL BUYER but an unlicensed broker screwing with you? I would file a complaint with the unlicensed brokers union:
Wholesalers
Helping
Owners
Real
Estate
Services...
W H O R * * ....you get the picture:)