Can't Assign your Contract to a REAL BUYER? Here's how.
Problem: Banks insist on "Non-Assignable" clauses in the contract.
• Solution: Form a "shell" LLC to make your offers. Once you get a deal accepted, sell the LLC to the other person for your $5k or $10k assignment and let them go to the closing table. The title company doesn't care who owns the LLC.
• Solution: Form a "shell" LLC to make your offers. Once you get a deal accepted, sell the LLC to the other person for your $5k or $10k assignment and let them go to the closing table. The title company doesn't care who owns the LLC.
Comments (1)
Do I use a standard Assignment contract with my cash buyer, once I collect my non-refundable EMD and send that to my title company?
Arktavious Sally, over 12 years ago