Assigning A Purchase & Sales Agreement
Hey Everyone,
I have signed a P&S to buy a piece of commercial land for 400k, however a cash buyer came forward through my realtor and offered me 500k... Do the math.
Can I assign the P&S to him without going through the lender process and closing myself. I would ask my lawyer about this but he his the one who turned me onto the property (another older client of his).....
There are no stipulations in the P&S saying either party couldn't assign. Guess I'm looking for a way to approach it
Usually you need to list in the Purchase Agreement you r anme as "John Doe and /or Assignes" to be able to do an assignment. Teh contract may state it can be assigned, but I don't know if you didn't you the "and /or assigns" phrase.