ASSIGNMENT OF CONTRACTS?!! YIKES!!!!

[Sjalin Lathan-Sims]

HELP FELLOW BP MATES!!!!

I have a Seller who is wanting to sign a contract with me pronto! Heres the thing,....im stuck! to get this contract signed do i already need to have my end buyer? or is it 2 seperate contracts between me and the seller and between me and the end buyer? Please help.!!!!

Once the contract is signed do i need to take it to the courts, send to title company? does something need to be recorded?

please explain the process and everything in between as simple and brief as possible. \

Thanks!!!!!

[Kyle J.]

Typically you would 1) sign a purchase contract with the seller, and then 2) assign that contract to your end buyer.  So you don't have to know who your end buyer is going to be before you sign the contract with the seller, but you should be fairly certain that you will be able to find one (or willing to close on it yourself) so that you don't leave the seller high and dry.

The title company should be able to handle the closing for you after you get them all the paperwork.  You don't need to take anything to the court or record anything at this point. 

Here's some further reading on how it works in case you have more questions: The Ultimate Beginner’s Guide to Real Estate Wholesaling

Good luck.