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24 November 2009 | 20 replies
I NEVER write and/or assigns and have my entity already to go to make my offer in.I have written a few offers in the commercial world with my personal name and/or an entity to be named later and then stipulated inside the contract that I was to be a majority owner of the entity to let the bank knwo I was not attempting to assign the contract.
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29 June 2015 | 3 replies
Generally all real estate contracts are assignable (unless you are buying a property from the bank that doesn't allow assignments and you already have an executed purchase agreement with the bank that says that assignment is not allowed).If you don't have an executed PA with the seller, at the bottom of the contract where it says ''other'' you write :"buyer has a right to close on the purchase under the entity of its choice''Then after you found the end buyer your title Co or an attorney structure a contract b/n you and a new buyer where your attorney includes the legal language and other stipulations that basically will say '' that you are the seller of a certain contract and Mr Jones-buyer is a buyer of the contract, and you agree to sell the contract to Mr Jones for X -dollars''On the HUD you will see the purchase price that you buy the property for and a separate line item for an assignment fee (your profit) that you get by assigning the contract to Mr Jones.If you do have an executed PA without the language above, you will need to write an amendment with the seller that says'' Buyer has a right to close on the purchase under the entity of its choice''Your new buyer will set up a new LLC or will close under existing LLC of his/her choice.But be careful though, when sellers and end buyers see the HUD statement before the closing, some of them might flip out and don't come to closing because they get frustrated by knowing how much money you are making (not the end buyer, because they see the original contract that they are buying).
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23 April 2014 | 20 replies
What do the leases of your tenants stipulate.
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29 January 2016 | 10 replies
Or are there stipulations that would restrict me?
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4 February 2016 | 5 replies
I have read I can refinance to a conventional loan under certain stipulations or streamline.
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15 September 2016 | 12 replies
You should absolutely, positively have a reputable title/escrow firm (preferably local, but not necessarily), do a title search, however, you can do that after you have submitted your offer, and the seller has accepted, as in the contract, it will stipulate that your purchase will be contingent on the seller delivering clean title.
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13 May 2016 | 4 replies
The contract may stipulate how this was to be handled and the settlement statement may actually show that the funds were transferred with the sale.
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29 August 2017 | 10 replies
Is that somehow "breaking the law" because I'm not owner occupying it or is there some stipulation that I "tried" and eventually in a few more months, I'll eventually owner occupy it... does that make sense?
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23 March 2017 | 9 replies
I'm considering also stipulating that the tenant stays in place for at least 3 months before the referral fee is disbursed.
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4 August 2019 | 1 reply
Are there any stipulations or things I should know before going in to this?