Hi everyone:
Im excited to be here, i'm new to all this, and i am hoping to learn from all of you, and hopefully become friends. I am trying to do my first deal by assigning a property to a buying; however, i am still not sure, which contracts in particular to use, because there's the seller agreement contract, that is to be used between, me (the buyer) and the seller, then we have the assignment contract that is to be used for assigning the property over to an investor. Well, folks, i hope the best for all, any suggest would be helpful, and may everyone meet their expectations. God bless.
Take care...
H.Rod
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you would use both unless
If you are doing a single close, you will use both SAC and AC however, if you do not want the end buyer to know what your original price for the property was, then do a double close and just use SAC for both transactions. SAC=Seller Agreement Contract AC=Assignment contract. Just remember when filling out the SAC with the seller, you put And or As Assigned after your name being you are assigning it over. then fill out the assingment contract from you to whomever you are reselling the property to. Hope this helps and good luck.
Kizzy
One additional question
I did find a property, and a buyer; however, after i lock the property with the owner, all i want to do is resell it quickly to the investor/buyer that i found. Does it make a difference if the investor/buyer knows the amount of the property? or could i just assign it over to him, for a simple finder's fee?
I really appreciate your help.
Thanks, again.
Ps. have you done any deals?