OfflineHere's a Novation Agreement you can use between you and the Seller. You can go here to www.docstoc.com
Here's the direct link:
http://www.docstoc.com/docs/14385/Novation-Agreement
(copy and paste link in your web browser's URL) to download it to your personal computer directly. I couldn't do a file attachment on here because of how I got the file extension saved on my laptop its not applicable for uploading to DG site.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Alana,
Please explain why someone would use this binding contract.(I guess it could depend on the state)
Invest in yourself!
If you're assigning a property to a third party, which would usually be a End Buyer (needing conventional financing) or another assignee (Investor paying cash). You want to relieve yourself of any contractual obligations to the Seller, when you transfer your rights to purchase, said property, to a third party (End Buyer) if in the event they default on the obligations of the contract. It's imperative that you (and anyone else) reading this understand the contract language in a Purchase and Sales Agreement contract or any other contract for that matter.
If you don't understand the contract have an attorney go over any contracts with you in its entirely, until you understand all the clauses and provisions in the contract. Also have them tailor a Purchase and Sales Agreement Contract (and any other contracts) that offers protection to you, the Investor/Buyer, from any and all possible litigation.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.