A Question About Assignment Documents

You sign the contract between the seller and yourself. Doc #1. Then you sign the assignment of contract with you and you buyer. Doc #2. Present both docs to the title company and arrange your payment of the assignment fee at closing.

Hope that helps,
Michael Mangham
MD Home Acquisitions LLC

Great information, but doesn't the end buyer need to have a new purchase and sale agreement with the seller, or it just goes strictly off the original purchase and sale agreement between myself and the seller, and then my assignment of contract with my end buyer? I am working on assignments now and I am close to getting one closed. I want to make sure I am going to do this right.

Richard,
Bothell, WA

So I Sign The Document That is the ASSIGNMENT OF REAL ESTATE PURCHASE AND SALE AGREEMENT With The Seller

& Sign The DISCLOSURE STATEMENT with my Buyer

is this Right ?

& Mail Both Documents to my Real Estate Title Company

You use a legal(in your state) contract to buy and sell real estate. If not using a realtor, check with your attorney. Make sure your contract is assignable.It does not say it is not assignable and has and/or assignee after your name. All the agreements and terms of the purchase are in this contract. You and the seller sign this agreement. You now have the property under contract.
You find a buyer and assign your existing contract to him using the assignment contract. You are assigning your original contract to him. Remember your original contract is assignable(and/or assigns after your name) The title company will now close in your buyers name and you get your assignment fee.Talk to your attorney to make sure your assignment contract is legal and you will get paid your fee as planned.
Make sure all involved know exactly what you are doing. Make sure your title company knows and understands what you are doing, just don't mail them documents!
After you do the first one it becomes easy. Have you read Dean's books?

Good Luck,
Michael Mangham
MD Home Acquisitions LLC

Yes on multiple occasions. Thank you for the information. I am sending copies of my contracts to the escrow company so they know exactly what I am doing before I even get my first deal into their office. I have everything being reviewed by the attorney in their office. I just want to make sure that this was all I needed to do.

1) Purchase and Sale agreement between seller and I.
2) Assignment of Contract between end buyer and I.
3) Go to closing and turn in all contracts with seller, end buyer, and myself all at same time to the title company. Collect check.

This sound about right?

Richard
Bothell, WA