OfflineI just received a phone call that it's illegal what I'm doing.I was sending email offer's with the and/or assigns attached, so they know what I want to do with the property.(Assign it)
I'm assuming this is a Realtor of one of the offers I put in.
So do I just send an plain offer with out the and/or assigns, and when it's accepted, Use the formal offer (purchase agreement)and ad and/or assigns there.
__________________
Jason S.
San Diego, CA.
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If it's legal on paper, then how could it be illegal in an e-mail?? I think they're just using scare tactics or they are ignorant of the facts.
Jason, with the PMs you've sent, it has made me think about questions concerning CA REI. So I just called a couple RE attornies in San Diego. The first, although he has practiced RE law for some time, could not answer my question about the and/or assignees. He said to try searching for RE "transaction" attorneys, which I did. I just spoke with another one in San Diego who easily answered my questions. First, he assured me that assigning contracts is absolutely legal and done all the time. Second, even if a contract (or purchase agreement) has a clause saying that assigning is forbidden, you can add an addendum saying you have the right to assign(just like we are taught by Dean). If you would like his name, I can give you a PM. Sorry to butt in, but "inquiring minds want to know". now I know.
So, keep doing what you're doing. You will win.
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
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I'm wondering if they were telling me it's illegal to assign a Freddie Mac or Fannie May loan.
Jason S.
San Diego, CA.
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or do you mean a property owned by such?
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Yes,a property owned by them.
Jason S.
San Diego, CA.
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It might not be "accepted" by them, but how could it be illegal just to make an offer? Have you familiarized yourself with the escrow company you'll be working with? The attorney I spoke with said that some states use RE attorneys for closing and some use escrow companies (here they're just calle "title" companies). Anyway, CA uses escrow companies (like Anita has told us. I just texted her to see which one she uses). I'm thinking they'd be able to fill you in on a lot more of what you'd like to know. Also, I'd really suggest talking to an RE attorney, even if just once. You might set your mind at ease about a lot of stuff.
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
My title co.told me when I first started, that they could provide me with an attorney that they work with, But he thought I probally didn't need one.
If you find something out from Anita please share.Also I would like the name and number of the attorney you spoke to over here.
Jason S.
San Diego, CA.
**All CASH House Buyer!**
Refer Us To Neighbors, Friends & Family, Earn $1,000
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Haven't heard back from Anita yet. I'll keep bugging her. lol
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
I am enjoying your conversation. I agree with Rina that if a lender has different rules pertaining to how they handle offers, that does not make it illegal. Let us know the details when you figure this out.
Al
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Hey first off, its not illegal, the Realtor just likes it done one way and only feels comfortable with that one way!!
Secondly I recommend that you send all your offers over on a formal offer contract for your state, get it from your Realtor and make a bunch of copies. For every offer use the RE contract, think of it as practice and getting a feel for the contract. In no time you will be able to fill one out in a minute....it will become second nature to you...
my 2 cents
D
Don't Wish the Past, Create the Future! - DH
I'm assuming the (REO)listing agent that called me had a freddie mac or fannie may property.She mentioned something about there rules with assigning.Do you thing that Realtor was talking about seasoning, That I couldn't turn around and assign it for that reason.
I thought I read a thread on here that freddie and fannie had a seasoning in there loans.
Jason S.
San Diego, CA.
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I don't know that seasoning should have anything to do with it, because it's only ONE person buying it in an assignment; either you or the person you're assigning it to. Maybe with double-closings...? Al, what do you think?
Rina
P.S. I just talked to Anita. I'll PM you the escrow company.
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Yeah Jason,
Seasoning has Absolutley Nothing to do with Assigning a Property, Thats Absolutley Ludicris, Illegal, Yeah Right!? It could be possible that they were Reffering to Freddie & Fannie, Because I Believe they dont Allow Assigning at ALL in ANY of their contracts. That Realtor has some Issues it seems, SULLY
YOUR HERO, SULLY
And/or assigns is NOT illegal. Many Realtors think that's the case because that's what they're taught, but it is absolutely legal. You might want to consider doing as D (Hazco) advises and put your offers on paper instead of just emailing them. But don't let an ignorant agent stop you from making those offers. What you're doing is 100% legal!
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."