OfflineWhen you are doing an assignment with and/or assignee, what forms don't you need from the IEE method that Dean refers to in the book. What are the differences between these besides one is for cash buyers and one is for buyers who need a loan? Can you use the IEE method for cash buyers as well? Thanks.
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IEE Contracts can be used for cash or loans. Assignments are only for cash buyers or investors with hard money lenders behind them. To assign you start with a normal Purchase agreement with and or assigns after everyplace your name or LLC name goes, and then the actual assignment form comes in to play. The Purchase Agreement is between you and the seller of the property, and the Assignment contract is between you and the End-Purchaser or investor. The Iee method is more complicated and requires more forms then an assignment method. There is a full list of the forms needed for an IEE transaction in deans new book "PROFIT FROM REAL ESTATE RIGHT NOW". For assigning, depending on your state, you should only really need the Purchase agreement and assignment forms, all other forms you might use are to protect you and the seller. Always start off using an Attorney for assignments until you become comfortable with the way they are written up. You will need an attorney as Title Company's and banks don't like assignments for the most part. I Hope that cleared it up for ya Johnny.
Respectfully,
Will
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Green Tree Investments OR LLC
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For IEE you need a sellers acknowledgement contract (States that the seller knows what you are going to do with the property) a purchase agreement (you DO NOT put and/or assigns with IEE strategy) A property disclosure notice (this states anything that the seller knows is wrong with the property) and a discharge of agreement to purchase (an invoice that states your assignment fee that the buyer signs)
Hope this helps!!
Shaun
Hope this helps!!
Shaun
On Deans discharge of agreement to purchase it has a signature line for the "seller" to sign... It does make since for the buyer to sign because they are paying the fees. Please advise.
Rita Williams, Listing Agent
you make your deal with the seller and bring in a buyer to buy from the seller.
Invest in yourself!
So the buyer signs the "discharge of agreement to purchase"? so change the seller sig line to buyer?
Rita Williams, Listing Agent