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Updated over 9 years ago on . Most recent reply
Land Contract
I was wondering is there a way to wholesale or assign over land contracts... if so how do you go about doing it??..would it be the same as assigning a purchase agreement??
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#3 Guru, Book, & Course Reviews Contributor
- Investor, Entrepreneur, Educator
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Jordan, please take this advice, stay away from land contracts or contract for deeds, you can search contract for deed on BP and find the new issues faced. They use to be one of my favorite strategies, not anymore.
No, you can not assign any financing contract without the consent of the seller-holder of that contract, bi-lateral contracts may not be assigned without consent.
If a buyer under a contract for deed wants to sell, they may, the transaction is treated as a sale with an underlying mortgage to be paid off. The contract must be filed and there are a lot of unrecorded contracts out there. :)