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Updated over 12 years ago on . Most recent reply

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Thomas Poloncarz Jr
  • Wholesaler
  • Buffalo, NY
0
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9
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assignment contracts ?

Thomas Poloncarz Jr
  • Wholesaler
  • Buffalo, NY
Posted

hello,
my name is Tom and i'm in Buffalo New York and i'm looking for an assignment contract that i may be able to use that fits this area . is there someplace on line that could solve this problem or is discussing with an attorney my best option? thanks for any input you may have!
Tom

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Jerry Puckett
  • Wholesaler
  • Fort Worth, TX
1,717
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1,335
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Jerry Puckett
  • Wholesaler
  • Fort Worth, TX
Replied
Originally posted by Thomas Poloncarz Jr:
hello, i'm looking for an assignment contract that i may be able to use that fits this area .

Can't tell you how many time I've answered this question....

There is no such animal. What you're looking for are in fact 2 separate documents. A Purchase and Sale (P& S) contract, and an Assignment form.

Most states have a standard contract that is used statewide for the Purchase and Sale contract. Let's see.......

Yeah, 20 seconds and 2 Google searches later.... You can get the one for the State of New York here:

http://www.blumberglegalforms.com/forms/8126.pdf

Document 2 is the actual assignment, and is nothing more than closing instructions for your title company. Most of them wouldn't care if it was written on toilet paper. Just needs to have the parties names, and the dollar amounts to be paid at closing. You can use the one I posted in the file place, here:

http://www.biggerpockets.com/files/user/ejpuck/file/assignment-of-contract

In the contract, section 1B ("Purchaser"), fill in your name, then "and/or Assigns"
In section 8, ("Other Terms") write in: "This contract shall be assignable"

  • Jerry Puckett
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