Is contract assigning is legal in my state?

I would like to find the letters that you use for the Mortgage Brokers.
Thanks.
Dave.

David, Rina, and Every question poser,
Thank you all so very much. The questions and explanations written have really freed up my heavy heart. I have had a hard time moving forward for many years (reading other so called guru books and methods). My mind was filled with words of deception, illegal, and how do I pull this off without jail time.

Now I understand. I got it!!!! Yes!!!

in order to cover myself what are the right contracts and what percentage that i should charge. in order to get a nice finder's fee and what is the formula for a wholesaler finder's fee. please hlp me.

Thank You

God Bless

I am still in the process of building my cash buyers list. I have couple of questions.
Is assigning contract legal in Illinois? If needed to double close, should the buyer be only cash buyer?
Thank you gurus for your help.

"Some people are of the opinion that wholesaling is fraudulent misrepresentation since the wholesaler does not actually intend to close on the property themselves. However in the United States wholesaling is perfectly legal and every real estate contract allows the buyer an inspection period and any amount of deposit that buyer and seller agree to. The concept of wholesaling a property is no different than a wholesaler in any other industry that signs a contract to purchase goods with the hope of reselling those goods at a profit to a third party. In a successful transaction the seller is often unaware that original buyer is not purchasing the property. In some cases, wholesalers actually purchase the property for cash and then resell the property to their end buyer in a second closing. This practice is considered more costly since the buyer is paying closing costs to purchase the property and to resell the property. However many people consider double closing to be more ethical since the original seller sold the property to the buyer and then the buyer entered into a new transaction to resell the property to a new buyer. In cases where there are substantial profits from reselling it often makes sense for the wholesaler to pay for two closing costs (double closing) in order to not have to request a large assignment fee from their buyer."

for more info refer to https://en.wikipedia.org/wiki/Flipping#Wholesaling_.26_Assigning_a_Contr...

All contracts are 100% Assignable unless there is a "non-assignability" clause in the contract that specifically states that you cannot assign the contract unless it is agreed to in writing by both parties. if there is no non-assignability clause then you do not have to put "and/or assigns" after your name on the contract and you can still assign it. If there is a non-assignability clause then you do have to put and/or assigns after your name in order for the contract to be assigned.

Hope this helps!

D

Trying to find out if contract assigning? I looked on the www.revisor.mn.gov/statutes website but couldnt find anything. Anyone have any ideas?

Read the post right above yours.

Karen

Hello,
In my state it is legal, for you my suggestion is to you, just calls the attorney's and asked them. They give you better advice as compare to us.

Hello,
I am in Florida, where can I find a purchase contract with clause for wholesaling?

Thanks for the comment. This explains it in simple terms.

Love this,

Dwight Conn

Assignments are illegal in Tennessee