Originally posted by Todd Bayer:
This is the way I would do it:
5. Fill out a standard purchase agreement with the seller.
a. The buyer is you and/or assigns.
6. Get the purchase agreement recorded to create a cloud on title.
7. Contact your buyer.
8. Set up the transaction with your title company.
a. Your title company should be able to do either assignments of contract or double closings.
9. Close the deal. Collect your fee.
If you're worried about your buyer circumventing you, recording the contract is your best option. But, if he does, obviously you'll never use that buyer again because he is dishonest.
Awesome! I'm copying and pasting these steps.
For 5, since I'll be assigning, the standard contract will have my name on it, correct?
5a. What do you mean by "and/or assigns"?
6. recorded with whom?
7. Do I have the buyer sign the assignment or at 8?
Thank you.
