How do I assign an contract? - Posted by Reta

Posted by lukeNC on September 22, 2006 at 19:20:03:

have someone pay you cash UPFRONT to step in your shoes and close with your seller.

you find a seller willing to let you make a profit, sign up a great deal with seller with everything disclosed that you are selling your interest, sell to someone willing to pay you cash upfront to close the deal…

How do I assign an contract? - Posted by Reta

Posted by Reta on September 22, 2006 at 12:45:41:

I am an brand new REI and I want to get my feet wet by assigning contracts. I’ve done some research and I understand the concept however nothing that I have read explain in detail exactly what I need to do to get the assignment fee. I understand that I get an sales contract agreement with the buyer that I will purchase the property. Then from there I find an investor or buyer who agrees to purchase it. Then I would fill out an assignment of contract form. From that point where do I go? In the assignment form does it state my assignment fee? Do I write up an separate contract? Do I do another sales contract with the seller and the new buyer signing off on it? How do I get my assignment fee? Will a check be sent to me at closing if the investor or buying is bank financing? I’m am completely lost on how I close up the deal. PLEASE HELP!!!