How To Assign a GA RE Contract

[Allen Gregory]

Hey guys,

I'll be putting my first few properties under contract this week and was hoping someone could lend a helping hand.

I have a bunch of courses (just like most of us) and they all give me their very simple contracts. However, I plan on flipping properties from the MLS and don't even want to bother Realtors with any other contract than the official GA contract.

On page 6, section 19C under Other Provisions it says and I quote:

"This Agreement constitutes the sole and entire agreement between the parties and shall be binding upon the parties and their successors, heirs, and permitted assigns. No representation, promise, or inducement not included in this Agreement shall be binding upon any party hereto. This Agreement may not be amended, modified or waived except by the written agreement of Buyer and Seller. This Agreement may not be assigned by Buyer except with the written agreement of Seller. Any assignee shall fulfill all the terms and conditions of this Agreement."

I have two ways to do this transaction, either assignment or double close. I have transactional funding from the course I got so a double close may not be such a bad idea. But what if I wanted to assign it? Could I?

By the way, my buyer already knows that the properties are on the MLS. He doesn't care. He told me that if I gave him the MLS number he would only give me a birddog fee, something like $500. But if I do all the work and the negotiating and bring him to the closing table, I can make as much as I want as long as it comes in lower than his number.

I chose number 2 because I want more money. But I also want to learn this. Not only that, but I will earn this man's respect by bringing him 6 or 7 properties packaged and ready to go in a matter of days.

Once I do it and get to the finish line, I can ramp it up as much as I want. The seller wants prequal letters or POF with offers. I don't have much money for earnest money so I'll probably do 10 or 20 bucks a property. It's a total of about 6 or 7 properties.

Any feedback would be greatly appreciated.

P.S. I think I'm supposed to open title once the offers are agreed upon and I don't know how to do that just yet but I don't want to get ahead of myself. I'll ask that question on Wednesday or Thursday after I have all the contracts in hand.

Thanks in advance for all the help.