Contract and Agreement Question

[Marshall Hawley]

Hi, I am looking to get into real estate wholesaling but first working on modifying and fine tuning a solid contract. I live in Seattle, WA. My question is as follows

Currently, I am making two separate agreements that I plan to have between myself and the homeowner, then between myself, the homeowner, and the cash buyers.
The first is titled the "Agreement to Assign Real Estate Agreement" between myself (as the assignee) and the homeowner (as the assignor) that I use to put the property under contract.
The second is titled "Assignment of Real Estate Purchase and Sale Agreement" between myself (as the assignor), the homeowner (as the Seller), and the cash buyer (as the assignee). However, I put a note in this that this is not the official agreement for the purchase and sale of the property since I'd assume the title company may provide that agreement and I may not want to get involved in the actual sale of the property between the homeowner and the cash buyer. 

My intended process is as follows:

1. "Agreement to Assign Real Estate Agreement" completed by myself and the homeowner

2. "Assignment of Real Estate Purchase and Sale Agreement" completed by myself, the homeowner, and the cash buyer

3. Purchase and Sale Agreement (provided by someone else) completed by the homeowner and the cash buyer

Is this the normal or most efficient process?
Any questions, comments, or help would be greatly appreciated

[Wayne Brooks]

Not even close.  You may can find some contracts here in the file place, but you are nowhere near ready to do this.  You need to do some more reading and education.

What you would do is;

A straight purchase and sale contract between you and the seller, one that does not prohibit assignment.  This IS the actual purchase agreement, the title co. doesn't provide a new/different one later.

A straight assignment of contract between you and the end buyer: the seller is not a part of this agreement.

You are still obligated to the seller on the original agreement.

Please don't be tying up sellers properties with little chance of actually closing on it.