All About RichF

RichF's picture
Lehi, Utah

Topics I've Participated In

how to set up escrow for lease options Ranger16717 years 7 weeks ago
ACTUAL - Purchase Agreement/Offer Anitarny757 years 10 weeks ago
LLC Benefits FDrake4127 years 21 weeks ago
Is contract assigning is legal in my state? buffs281628 years 50 weeks ago
assigning a deal D-HI6309 years 3 weeks ago

Basic Info

Real Esate Coach
Have Child(ren)
Completed Post Graduate

Sites I Visit

Mainly Just This One


How do I assign a deal?

How do I assign a deal?

Assignment of Contract

RichF's picture

You can read lots of posts in the forums about doing AOC.
Basically, you make offers until some accepts your offer. If you have properly done your due diligence, you probably have good deal on the property.
You then have a contract to buy that property for a given price for a stated period. That contract has value. You can then sell (assign) the contact to cash buyer who steps into your shoes, uses your contact and closes on the property. They need to fulfill your obligations, dates and amounts as if they were you. The Realtor gets paid as they normally do, by the seller. This is the abbreviated version. It is a great way to make money with little or no money out of pocket.