Assignment of Contract for Purchase and Sale

Posted on February 28, 2011 by global

Use to assign any contract to purchase.

Version 2.0

Assignment of Contract for Purchase and Sale

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26 Responses to Assignment of Contract for Purchase and Sale

  1. Nancy Strongo Strongo says:
    December 8, 2011 at 7:41 pm

    How do you overcome the REO rule against Assignments?

    Reply
    • Kevin Meissner says:
      June 3, 2013 at 4:56 am

      Your general strategy is to purchase the real estate in a newly created LLC. You sell the LLC that owns the real estate. The LLC still owns the real estate.

      Reply
      • Jeff Clayton says:
        November 25, 2024 at 11:40 am

        Right on Kevin. Use an LLC to purchase then sell the LLC. I’ve heard you could do the same thing using a Trust and save the filing fees you have to pay to your State to create an LLC. And save the Registered agent fee. A land trust can be created in 5 minutes and will cost nothing.

        Reply
  2. Michael Minnihan says:
    November 3, 2012 at 5:13 pm

    You assign when you aren’t going to stay in the deal.

    If there is no free equity, no reasonable spread or the seller wants too much down, you assign the contract.

    Reply
  3. Brandi Tarquinio says:
    April 19, 2013 at 7:49 pm

    Love having these forms available…. so fantastic!!!

    Reply
  4. Barry Winkle says:
    September 8, 2013 at 3:50 am

    Why isn’t the new Assignment of Contract that is in the Wholesaling Course not in the list of forms?

    Reply
  5. Cary Kitchen says:
    February 26, 2014 at 3:02 pm

    I see a post from September looking for the updated Assignment of Contract form. I still don’t see the one thats in the Wholesaling book. Is it located somewhere else on the website?

    Reply
  6. Holly Pavlyik says:
    March 21, 2014 at 1:50 am

    I’d like to know this information as well. I want to make sure i have the correct (and up-to-date) information in this business!

    Reply
  7. Jeffrey Johnson says:
    July 22, 2014 at 4:04 am

    Easy to use

    Reply
  8. William (Bill) Kovolenko Jr. says:
    March 4, 2015 at 1:57 pm

    What is the REO rule against assignments?

    Reply
    • Jeff Clayton says:
      November 25, 2024 at 11:49 am

      Bill, it just means they may insist inserting a clause in the Realtor contract that says the contract cannot be assigned. Where does the rule prohibiting assignments come from? I think it’s a bank policy, they just want to make sure they aren’t leaving money on the table.

      Reply
    • Jeff Clayton says:
      November 25, 2024 at 11:56 am

      The work around is to just make your offer with Bill Kovloenko, et. al. as the buyer. That is A to B. Then forget about the B to C side at this closing. After closing just have “C”, (your rehabber investor buyer), buy you out. You would just Quitclaim your interest in the property to C for your fee. So A to B. Close. Then B sells his interest privately to C after closing. Workarounds get things done despite other’s pesky rules.

      Reply
  9. Warren White says:
    March 5, 2016 at 3:58 am

    Your assigning this to a Buyer,not the bank! After you put it under contract!!!!

    Reply
  10. Kedric Simmons says:
    March 20, 2016 at 8:41 am

    Nice and easy!

    Reply
  11. Jim Fields says:
    July 24, 2017 at 5:23 pm

    How do you view and print various forms out trying to find out how to do a assignment contract

    Reply
  12. Sally Yocum says:
    April 28, 2018 at 12:24 pm

    Would this form be used on FSBO properties?

    Reply
  13. Devorah Sullivan says:
    June 5, 2019 at 1:41 am

    When is the new assignment contract be posted

    Reply
  14. Addie Scharff says:
    September 11, 2019 at 11:43 am

    What’s the difference between the “ASSIGNMENT” form (4/28/14) & the “ASSIGNMENT OF CONTRACT FOR PURCHASE AND SALE”(4/28/14)?? The last being much simpler than the first? I swear, understanding and wrapping my head around the small details of all these forms is keeping me from making calls and making offers!! HELP!

    Reply
    • Orlando Rogers says:
      September 20, 2019 at 1:43 pm

      You can use one or the other. Doesn’t matter. I would go with the one that looks like a contract to be more professsional

      Reply
    • Joseph Garcia says:
      December 15, 2019 at 10:46 am

      I feel the same way … is a coach available to walk thru deals with you when you are brand new?

      Reply
      • Shirley Soto says:
        August 18, 2020 at 7:30 am

        Hi Joseph, I was just reading comments and notice you’re question was not answer , I hope you sign up for a Mentor.

        Hope you are doing tons of deals!!!

        Reply
  15. Treanch Grant says:
    October 10, 2020 at 12:21 pm

    I’m using the AOC form fir the first time, and it seems simple to complete. Once filled out and sent to Assignee, and funds deposited, I assume that’s when I would forward the Assignee escrow information and a copy of the Sales Agreement, correct?

    Reply
  16. Ashley Atwood says:
    October 29, 2020 at 2:54 pm

    So many forms. I’m getting a little overwhelmed.

    Reply
  17. Jeff Clayton says:
    November 25, 2024 at 11:58 am

    The work around is to just make your offer with Bill Kovloenko, et. al. as the buyer. That is A to B. Then forget about the B to C side at this closing. After closing just have “C”, (your rehabber investor buyer), buy you out. You would just Quitclaim your interest in the property to C for your fee. So A to B. Close. Then B sells his interest privately to C after closing. Workarounds get things done despite other’s pesky rules.

    Reply

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