Assignment Contract Or Purchase And Sales Agreement
I am doing my first assignment which is ok by my lender for the deal. My question is, do I get my assignee to a Standard Purchase and Sales agreement, an assignment of contract or both? And Which agreement goes to the lender? Time is of the essence I would appreciate any feedback from seasoned investors.
Why do you have a lender if you are going to assign your contract?
Normally we get an assignment form signed by me and the new buyer.
Then the new buyer arranges his own financing and folows thru with the contract.
All I do is collect my assignment fee at closing.
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The lender is a lender that I have worked with before and I referred the new buyer to him.