$400.00 Course Does Not Give Me The Answer. Can You???
The way i understand it, when i flip a house, at a simultaneous closing, the title is transfered from my sellers name into my name, then the title is transfered from my name into my buyers name, right? I keep reading on here about "assigns to". Are we talking about the same thing or does this mean that the title would not pass through my name at closing, as apposed to me taking title, if i assigned my contract to my buyer? if so how do i exercise this? when i find a buyer, i fill out the same standard sales agreement with him as i do with my seller (different numbers and different terms, of course). Is there somewhere on the contract where i indicate that i'm assigning my contract to him, so that the title doesn't pass thru my name?
i would really appreciate anyone clearing this up for me. As usual, i have one of those $400 packages that's suppose to give you all the answers, but.................. 
thanks in advance!
[addsig]
On your original contract. It MUST say that you can or will be assigning the contract. Then all is needed is a one page form "ASSIGNMENT OF CONTRACT" to assign it to your buyer.
If in fact your contract doesn't allow you to assign, then you will have to go through a simultainious close.
Actually, I believe all contracts are assignable unless specifically stated. At least in my state.
Tom
If you dont want title to EVER pass in your name, in the sales agreement you add "and/or assigns" this way the title will pass from the original owner to your seller. What would be the reason for this? Tax, legal...etc. You would have to add your commissions or profits in at close. I can tell you that if your buyer is getting bank financing, they will wonder what you are doing on the HUD 1. If your buyer is a cash buyer you are better off just doing an assignment
as long as the contract is assignable, you can tell the settlement attorney that you'd like to be a line item on the Hud 1, so that the property doesn't pass through your name, and on the Hud form there would be an indication of the difference between the original sales price and the ending buyers price, which would go to you.