OfflineATTENTION - CT (Connecticut) Investors - Question - has anyone used Dean's Contract listed above - I am having a problem, when I ask the Seller to agree to sign the Assignment Sales Contract, they reply that they will have their attorney look it over first and later the attorney will discourage the seller to sign it (perhaps the atty is not in favor of the writing of the contract) PLEASE HELP! Any Suggestions
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If I am reading what you are say correctly...you are asking the seller to sign an assignment of contract?
Well....the seller isn't supposed to sign the assignment of contract. This is the contract you get your end buyer and yourself to sign. This contract is saying that the end buyer will take over your position on the sales and purchase contract for a fee of XXXX whatever you are charging for your assignment fee. In other word this is the contract you use to get your wholesale fee out of the deal then you are out of the deal. Then the end buyer and seller will create a new purchase and sale contract and go to closing.
"THE ARCHITECT OF YOUR DESTINY IS YOURSELF"
"SUCCESS WALKS HAND IN HAND WITH FAILURE"
Perhaps you should find your own attorney and get them to look over your contracts before you present them since different states have different laws. I don't live on the east coast, but my sister does and no real estate transaction takes place without an attorney.
And I agree with previous post. First you have the Agreement to purchase between the seller and you (and/or assigns). Once you have the property under contract then you use the Assignment of Contract with the buyer you find. You are selling the contract that you have negotiated.
That is why it is important that the contract reads "and/or assigns", unlike when you buy an REO and they write in the contract "cannot assign".