Wholesale Contract Language and Securing your interests

[Rich Hupper]

Hello BP 

I have been mailing my letters and getting some appointments. I am about to submit an offer to a homeowner. I have a few concerns.....

1) He does not plan to use an attorney. If that is the case should I make the earnest money deposit very small because there will be no escrow agent?

2) Assignment language used in my offer is as follows "Buyer shall have the right to sell, assign, and transfer this agreement with all rights, title, and interest herein to any person, firm, or corporation at any time during the term of this agreement or subsequent agreements made in conjunction with the sale of said real property, and any such assignee shall acquire the rights and assume all assignor’s obligations under this agreement with notice to the Seller(s) or Seller’s agent in writing by personal service, registered mail, or electronic communication."

Will this language allow me to properly assign my interests to the end buyer with notice to the owner, without needing his consent to do so? Also will all my duties and liability for the contract be assigned to the assignee with no recourse to me if the assignee defaults on the purchase? Or would I still be liable for the assignees performance? Or do I address this concern inside the assignment agreement.

3) After the offer to purchase is signed, what document do I need to record at the registry of deeds to give constructive notice and to effectively cloud the title and secure my interests in the property from third parties trying to contract with the owner.

Thank you