RichF
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Topics I've Participated In
Title | Poster | Replies | Updated |
---|---|---|---|
how to set up escrow for lease options | Ranger16 | 71 | 7 years 28 weeks ago |
ACTUAL - Purchase Agreement/Offer | Anitarny | 75 | 7 years 30 weeks ago |
LLC Benefits | FDrake | 412 | 7 years 42 weeks ago |
Is contract assigning is legal in my state? | buffs28 | 162 | 9 years 19 weeks ago |
assigning a deal | D-HI | 630 | 9 years 23 weeks ago |
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Real Esate Coach
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On 22:48pm, December 14th, 2011 RichF said:
Assignment of Contract
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.
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How do I assign a deal?
How do I assign a deal?