Posted by Don on May 29, 2005 at 22:58:42:
As John says, a purchase contract is fine. Just make sure in the purchaser line you list your name and add “and/or assigns” so it’d read “Ifenyi xxx and/or assigns.” That way, you’ll clearly have the right to assign the contract–that is, sell it to a wholesaler. And to protect yourself (if you can get away with it…some markets are so hot contingent contracts aren’t accepted), add a line, “This contract is contingent upon approval of partners” or similar language. That’ll allow you to check out the arrangement further and, if necessary, get out of it. If you’re looking for something simpler than a purchase contract, you could consider an option.