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Updated over 11 years ago on . Most recent reply

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15
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Allen Ayres
  • Hall Summit, LA
0
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15
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A couple questions about assignments

Allen Ayres
  • Hall Summit, LA
Posted

I have a couple questions about assignments done in a wholesale deal. I have a deal under contract and plan on selling through an assignment and just want some clarification on a couple things.

1. How do you present that you will be using an assignment? Does an assignment turn a seller off?

2. Do you show the buyer the filled out contract they are being assigned to?

3. If you need to go back and renegotiate with the seller, do you do this before or after you sign the assignment with a buyer? I may do this to try and get a better deal but my assignment contract mentions the date of the contract and that it hasnt been changed. Sounds like this might rule out addendums to the contract and that I would need to renegotiate before I sign an assignment with a seller.

4. Once assigned, if the assignee defaults am I held liable in any way or is that passed to the buyer?

Thanks in advance

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