Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 4 years ago,

User Stats

50
Posts
9
Votes
Trace J.
  • Flipper/Rehabber
  • Florida
9
Votes |
50
Posts

Contract Assignee - can I sell if has non-assignment clause?

Trace J.
  • Flipper/Rehabber
  • Florida
Posted

I am an investor purchasing a home I believe to be a good deal from a wholesaler after due diligence.  I signed the assignment agreement and paid earnest money, but it has a non-assignment clause so I cannot reassign my rights to another end buyer for a fee.  Due to low inventory, I believe I can turn around and sell this for a decent profit to another investor yet they can still make money too.  However I am told I cannot market that property for buyers.  According to sources and Property Onion, "If you are the assignee of the contract, then you only have the exact same rights as the assignor, which means you cannot market the property for sale."

My question is am I able to market for investor buyers for my equity rights or do I just need to wait until after close and then market the property?  I thought of a double close but am hearing of legal issues to market my end of it.  Suggestions?

Loading replies...