How Do You Assign A Real Estate Contract?
Flipping houses has many connotations. Investors buy a property, rehab and renovate and then sell for a tidy profit. This requires a lot of work. There are house finders also known as wholesalers, flippers or bird dogs that find good deals, get the property tied up and under contract, and then find and assign the contract to the actual buyer for a fee. This process is known as assigning a contract, and requires little if any money. Locate a suitable property. Write an all cash offer to purchase. Once all parties have signed, take it to a title company or escrow company so that they can get it ready to close by doing a title search, ordering a survey and home owner’s association information. Make an offer. The offer should include the verbage “and or assigns” after you are name as the buyer. You should also retain the right to inspect and reinspect the property prior to closing, giving the seller at least a 30 minute notice before any inspections. This allows you to let other investors
