OfflineAll of us on here know the importance of using and/or assigns on our purchase contracts, if we are planning on assigning them, but do you know how to use it and get it accepted without question or rejection?
As I write this, I a m speaking strictly from personal experience, because EVERY purchase and every offer, I have made, has read "and/or assigns". By now my agent knows to not even prepare the offers without it because I won't sign them.
Now I will usually make my offer as "ANITA WILSON and/or ASSIGN". When my offers is accepted and they send that huge stack of paperwork back for me to sign and accept, I politely send them back to them and remind them that they "FORGOT" that my offer was made with and/or assigns. Almost all of them have quickly fixed it and returned the paperwork, but a the few that did not fix it or refused to change it from just my name, I still signed the paperwork, I still work in and/or assigns and then once we opened escrow, I submitted and addendum with a contingency that unless I have the ability to hold title in and/or assigns and also use assignment on the property as a pert of the deal, then the deal is OFF. Well I have a few buck at this and try to strong arm me, but I kindly reminded them that the offer was submitted with and/or assigns originally and EVERY SINGLE PAPER I signed had and/or assigns on it.
So unless they were prepared to handle a breach of contract for something they inadvertently "Ignored" then I suggest they sign he addendum and lets move on. Not a one had refused so far and another reason for they may be that since escrow was already opened, them backing out would make them responsible for paying those escrow opening fees, which I also wrote in as an addendum/ contingency.
I know thats a little on the cheeky side but its best to get the upper hand as quickly as possible.
I am sort of aggressive and this works for me, and for those of you that do not feel comfortable with this tactic, then do what works for you.
Anita
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"FAILURE IS NOT AN OPTION"
Anita Is Great at doing business and taking charge of the closing/assigning
and it is good to learn all about deans books too.
Everyone here is doing a good job keep it up.
Do not let no one stop you from knowing more knowledge and initiative.
hry guys I'm a newbie, and what a great thread, I notice it has been a while since someone last posted on this forum. i have 2 questions reagrding assigning contracts. All the properties that I'm looking at are currently REO's with banks, now I'm planning on putting in 25 offers low ones specified by matt larson in Dean's book.
Can somebody explain the land of trust a bit more clearly for me as in what name do you put? is it your own name, trustee exact vesting TBD at closing?
Also
what are the prices for obtaining LLC? I know I have to go through the state but can it be done by yourself or is it beneficial to get it done by an attorney etc?
Thanks Huw
m
As I write this, I a m speaking strictly from personal experience, because EVERY purchase and every offer, I have made, has read "and/or assigns". By now my agent knows to not even prepare the offers without it because I won't sign them.
Now I will usually make my offer as "ANITA WILSON and/or ASSIGN". When my offers is accepted and they send that huge stack of paperwork back for me to sign and accept, I politely send them back to them and remind them that they "FORGOT" that my offer was made with and/or assigns. Almost all of them have quickly fixed it and returned the paperwork, but a the few that did not fix it or refused to change it from just my name, I still signed the paperwork, I still work in and/or assigns and then once we opened escrow, I submitted and addendum with a contingency that unless I have the ability to hold title in and/or assigns and also use assignment on the property as a pert of the deal, then the deal is OFF. Well I have a few buck at this and try to strong arm me, but I kindly reminded them that the offer was submitted with and/or assigns originally and EVERY SINGLE PAPER I signed had and/or assigns on it.
So unless they were prepared to handle a breach of contract for something they inadvertently "Ignored" then I suggest they sign he addendum and lets move on. Not a one had refused so far and another reason for they may be that since escrow was already opened, them backing out would make them responsible for paying those escrow opening fees, which I also wrote in as an addendum/ contingency.
I know thats a little on the cheeky side but its best to get the upper hand as quickly as possible.
I am sort of aggressive and this works for me, and for those of you that do not feel comfortable with this tactic, then do what works for you.
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
Hi Anita,
Looking at a REO property now...but it states 'sealed auction'...Should I bid and then assign or is there something else to this situation. I dont want to run into any surprises ...referring to my books while I wait for responses...Thanks
~Marilyn P