HELP Filling out the forms when assigning

Jason:
with respect to your Qs above, here are my comments:

1. You MUST sign arbitration clause; don't be scared of it. It's binding arb and a whole lot cheaper than having a seller filing a specific performance lawsuit against you. Trust me; I've been a litigation paralegal for a lifetime and most suits could have been settled WAY before suit filed if they had gone to binding arb.

2. You should be prepared to put down 2-3% to show good faith to hit escrow. That's not a lot of money (sounds like it if you don't have it). However, pull it together somehow somewhere (ask a Deanie to help with that money and cut Deanie in at the end).

3. You're going to need your 30 days to remove Buyer's contingencies. As we say at our realtors' meetings, 30 days seems like a long time, but once you're in escrow, you're going to need that time and be grateful for it. Remember, Buyer only really has 2 exit strategies to pull out: 1. what inspector says; and 2. being able to pull out due to not being able to get funds.

4 and 5. Yes, ask for Seller to pay non-recurring closing costs, and investigate exactly what they will be for you (ask your realtor to help you calculate), and then ask for a little more above that. Never hurts to ask! Re Q-5, your inspector will help you determine exactly what needs to be fixed and then depending on what he says, go online to Lowes and Home Depot and figure out how much hardware will cost and add that to either a handyman's rate of $25 per hour or if it's a big job, call 4-5 contractors and ask them what they'll charge you.

6. Use Coastal Funding to help you close. You'll get them to pay whatever you really need and they provide "flash funding" and well worth that 2%. They're going to help you with your closing costs, so if Seller bucks at closing costs and/or repair costs, meet them halfway with the closing costs and make them feel happy they're getting away with minor repair costs.

See this Coastal Funding link:

http://www.coastal-funding.com/faqs.html

Happy escrow!

I am trying to get this contract accepted as an assignment.

Excellent advice Jenny! On question 5, realize that this negotiation is done after you have an accepted contract. Use an inspector. The inspectors report adds validity to your request for repairs. If the seller is willing to discount for repairs, get a quote for repairs and include that with your request(you can still negotiate a lower price from the contractor, or do the work yourself and save some expense).

One other comment, question 2, I don't know why there would be an additional deposit made at close of escrow. All expenses and fees are paid at COE, no additional deposit would be needed. Maybe I missunderstood the question. Maybe they are referring to the additional funds that the buyer would need to close escrow or cover the down payment.

hey guys,I was just wondering where on the purchase contract do you put the assignment clause on and what do you write as your assignment clause?

If you write "your name and/or assignee" in the buyer section of the contract, you are giving yourself the option to assign.

I was wondering when my offer is accepted and I get my endbuyer.How would we fill out a new purchase agreement.Does the endbuyer put in all new contingencies for himself and escape clauses?
I just want to know a step by step on bringing in my endbuyer and attaching the assignment of contract.How does this process go.

This is how I understand it. You are assigning the original contract to a new buyer. He is agreeing to take over the limitations and conditions of the original contract.

Thank you so much for responding back to me,it was very helpful.I think I have everything coverd now.I hope so!Im ready to go make my first deal.SCARED BUT READY!!!!!