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what would you call this?

verne_j profile photo
  • Thursday, April 10, 2003 @ 05:36 PM EDT
  • 3 Comments

i.e. Say you can get a person that would sell a home for 100k and want to flip for 115k. If I were to assign this sale to the investor what would you call that letter to have the investor sign? assignment letter?

Verne

Comments(3)

  • no photo
    rajwarrior10th April, 2003

    Assignment of Contract, or Assignment of Option if you did a option with the seller instead of an offer to purchase.

    Roger

  • no photo
    tanya121510th April, 2003

    It's called an "Assignment of Contract" because you are assigning your rights as the buyer to another buyer who will take your place at the closing table for an assignment fee. But, you have to get the property under contract with the seller and you as the original buyer.

    Tanya

  • no photo
    verne_j10th April, 2003

    thanks a lot!!!!!

    i appreciate the quick responses....

    I'll let you know...this may be a true possibility in the end of the month....

    verne

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