I've looked

I appreciate everyone here that has helped me through all of this. If it wasn't yall I would not have gotten this far!

im in ct, not florida...but figured id jump in anyway...the attorney from my experience with attorneys SHOULD be able to help with exit clauses, and how to figure out a way to pay the earnest later(after you collect it from the end buyer)

Just make sure you find an attorney that KNOWS about assignments and all that...Cause some attorneys don't know about it and will bs you...

Thank you for the info that helps alot, But I still need to know if that is what Dean meant in the book is if you get the check at closing and then pay the seller his earnest money or what? I am still confused on this... Please advise! Thank you for informing that the attorney can help me figure a way to pay the earnest money after I collect the end buyers pay but is this what Dean meant in the book?

know of an exit clause that can help. Dean said that the earnest money would come from the end buyer. But how can I put it in words to where if I don't get it from the end buyer I don't have to pay it?

you can put it basically like this...earnest money to be due 15(or whatever) days after contract accepted...then you will have 15 days to find an end buyer, and tell the end buyer you collect(amount of whatever the earnest money is) up front and the rest of the assignment fee at closing...

make sure you mention to them the earnest money is non-refundable, cause if it falls through, the property will still expect the earnest money unless you have other escape clauses...

but if you have other escape clauses in there that you figure out, or the attorney helps ya with, you should be able to cover yourself regardless whether you find an end buyer or not...

hope this all makes sense to you...can get a bit confusing...

and in that amount of time you have to find the end buyer, as long as you have other escape clauses in there, you can get out of the contract even if you can't find somebody to assign it to...

It does get confusing and that did help... And thats what I want know is that second clause the one that protects me from having to pay to earnest money if I don't get a buyer or my buyers do not like this certain property. I have a buyers list, but I'm sure not every property will actuall fit their criteria, thats why I have the concern. Thank you for your help Marc!

can be inspection clause...if you don't like the house for whatever reason, you can get out of it

can be mortgage contingency-if you can't get a mortgage, you can get out of it

subject to partners approval - regardless if you have a partner or not, you can get out of it for any reason at all...it could be a dog if you wanted...

a dog... lol? Hey this what I was looking for! I think... I will run this by my attorney and see what he says! Thanky ou for all the help! Dean said in the book that you can use the phrase " if this exercise is not followed through, the seller will retain this payment." will that work? Here the contract that was i the book tell me if this would get me out of it, just in case something crazy happens? I know if Dean put it in here then of course its going to work. I just want to make just this is the contract that he meant for us to use, that has that special escape clause he talked about..

[sellers full name]
of [address], (sellers),

And

[buyers full name]
of [address], (buyers),

The seller now owns the following described real estate, located
at [insert full property address], [city or town], [state]:

For valuable consideration, the seller agrees to give the Buyer and exclusive option to buy this property for the following price and on the following terms:

1. The buyer will pay the seller $________________ for this option. This amount will be credited against the purchase price of the property if this option is exercised by the Buyer. If the option is not exercised, the Seller will retain this payment.

2. The option period will be from the date of this agreement until the [day] of [month], [year].

3. During this period, the Buyer has the option and exclusive right to buy the Seller's property mentioned above for the purchase price of $_________. The Buyer must notify the Seller, in writing, of the decision to exercise this option.

4. Attached To this Option Agreement is a completed Contract for the Sale of Real Estate. If the Buyer notifies the Seller, in writing, of the decision to excercise the option within the option period, the Seller and Buyer agree to sign the Contract for the Sale of Real Estate and complete the sale on the terms of the Contract.

I think you got it...that should work for ya...Obviously, go to an attorney first, and have him check into this stuff...states do differ, but for the most part, that kind of stuff should work anywhere...

he may be able to word things better also...plus, the less exit strategies the better also...the more you have, the scarier it looks to the seller...

so try to keep it simple, with as many exit strategies as you can to protect yourself...sounds contradicting, but hope it makes sense...good luck

this is something i found in another thread - I hope it helps, if not, use the dog strategy!

This offer is subject to buyer’s walk-through inspection and/or buyer’s partners’ walk-through inspection and acceptance of same delivered to seller within thirty days of seller’s acceptance of this offer to purchase.

2. This offer is subject to property inspection by a licensed home inspector, the results of which must meet buyer’s satisfaction.

3. Buyer has the unqualified right to assign his interest in this contract prior to settlement to any person, corporation or entity which he may designate.

4.This offer is subject to approval of buyer’s associate within thirty days of acceptance.

5. Buyer reserves the right to show the property prior to settlement for the purpose of either renting or reselling it, and seller agrees to permit access to buyer at any time from the date of this agreement up to the settlement date.

Angela
__________________

I think That about settles everything...I apperciate both of yalls help!

or were you just looking for info? I would check with a R.E. attorney in Florida because (i'm not postive, but I remember hearing somewhere) if you give a deposit in Florida, and don't purchase, you do NOT get it back. I'm in NJ, and rarely if ever, do you get to keep a deposit, but in Florida I believe it's the other way around. Like I said, I'm not positive, but I'd look into it...

Lenny