Contract not assignable?????

How do I flip a foreclosure that has a nonassignability clause?

Thanks

Comments(2)

  • hrash18th April, 2003

    Usually if you want to buy properties that have that clause in the contract, you got to use an LLC or the name of a corporation. That way, you can simply assign your "interest" which is owned by your LLC or Corp.

    If you have signed the contract under your own name, you may call a title agency and ask them if double-closing could be the solution(it may NOT). Sorry but this is my couple of cents worth...good luck ...

  • tanya121518th April, 2003

    You were supposed to cross out that clause and have the seller initial next to it acknowledging that they waive their right to that clause. The only other option is to do a double closing.

    Tanya

Add Comment

Login To Comment