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Updated over 9 years ago on . Most recent reply

User Stats

185
Posts
56
Votes
Andy Cross
  • Wholesaler
  • Culver City, CA
56
Votes |
185
Posts

Getting Around "No Assignability" C.A.R. Purchase Agreement

Andy Cross
  • Wholesaler
  • Culver City, CA
Posted

Hello everyone,

No offense to Realtors on BP, but I've got to ask this question of my investors in California.

In CA, the California Association of Realtors Purchase Agreement has a "no assignability" clause in the contract that eliminates investors from assigning/wholesaling deals to cash buyers. Not sure why this is there (nor do I care). 

If I can somehow get around this clause, I can start making money and my Realtor friends money as well. I know you all aren't lawyers, but are there any investors in CA that know how to get around this clause? 

Thanks Folks! Andy

Most Popular Reply

User Stats

10,251
Posts
16,108
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
16,108
Votes |
10,251
Posts
Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

Here in WA, the standard realtor PSA has it was well.  In the assignment paragraph I cross out "not"  and initial it.  Then it reads "Agreement/ contract is       assignable to..."

Anything in the contract can be crossed out or amended and initialed.    Hope this helps @Andy Cross!

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