We would like to assign the property to an LLC where we are the only two members.

A commercial (income producing) property that is producing NO INCOME does not have as much value as you appear to be assigning to it.

Whether your plan is to obtain that profit in the form of; proceeds from a quick flip, cash flow from renting, option fee from assigning, excess of rent over PITI on a lease option, you have to know before signing anything with a seller which it's going to be!

Option must be assignable at my option to whomever I choose.

I have used NARS - and worked just like advertised for me.Last deal involved a home in Vancouver, WA- owner was moving to CA and had a prepay penalty on his loan.. and just wanted to get out of the monthly obligation.Placed his home into his own trust, then assigned a beneficial interest to me and I in turn brought in a resident beneficiary to "partner up" with.

I do know this much, in your contract it should read ASSIGNED TO contract to because you are not buying the property yourself.

Your thoughts and suggestions are extremely appreciated.Assignment of ContractThe undersigned Assignor, having executed a contract dated _____________________ between _____________________________________________________________________________Assignorand _____________________________________________________________________________Assigneeconcerning the property described as:____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________,hereby assigns all rights to said contract to:_____________________________________________________________________________("Assignee") in exchange for compensation in the amount of _______________________________________.

I mean do you tell them you want to make a contract assigning the house to ourselves to resell to an investor?

I find it interesting that you recogniz the the sub-prime as being investors who pick these loans up as money makers on the service side, the key word that caught my eye was investor.

If you are assigning your contract, it makes sense that they would want to see the contract.