Hi, I am a real estate agent in California. I have been in the biz for 4-5 years. I have questions about contracts.
The new standard residential purchase agreement/assignment agreements are tricky. The "Assignment of Agreement" addendum requires the buyer include the exact amount you are receiving the assignment for. """Buyer has received consideration from Assignee in the amount of $x,xxx""" This is the exact verbiage the assignment of agreement addendum has, the seller sees this. This is not a matter of hiding the assignment but a matter of creating a smooth transaction for all parties. The standard agreements could cause problems, sure i could word the sale to the seller in a certain way shape or form but i would like to avoid this. Are there off market contracts title companies accept? The title company i use for regular real estate on market transactions beats around the bush in regards to off market contracts and assignment fees etc etc.
1. Where can i obtain off market contracts that are tried and true? Contracts that title companies would use? Sure i can google and go on youtube wholesale videos and obtain random contracts, but would they work? Anyone can find contracts online. Please respond with this in mind, where can i find true contracts. Remember i have access to standard contracts as im a real estate agent in California but i want to avoid using standard contracts.
2. Title/Escrow - First American for example requires the seller see the assignment amount based on the standard agreement real estate agents use. I need help with this. I don't know what to do. Sure a relationship with the end buyer can help avoid this, but i need stuff in writing. Are there mom / pop title companies or country based title companies or investor specific title companies that can help provide contracts their investors use? I have spoken to make escrow companies, first american, chicago, orange coast.. the big boys tend to lean more towards standard agreements agents use, i could be wrong?
I have done countless amounts of searches on google but i cant find anything in regards to the above. Thank You Sir's
