HELP !!! Assigning Contracts
It was pointed out to me the other day that in my selling properties for some of my associates and partners that I am leaving myself open to be screwed big time. I am new to this so please help me out. I have four deals in the works right now. The sellers have a target price and anything over that is mine. So, I have been doing all the legwork. I met with someone the other day and they said that I have left myself wide open, that I should put these properties under contract for the target price and then assign the contracts to someone else. Can someone, anyone tell me the best way to do that. Is it as simple as stating “ABC, LLC its successors and or assigns”or is there more to it than that?? I have some good offers on the table and do not want to mess up.
Put the properties under a simple contract for purchase. Use the "ABC, LLC and/or assigns" clause.
Record it.
Then you can assign the contract to whomever you want for cash now!
Good Luck!
Matty Kling
Good deal. Just one question, record it with whom? :-?
county clerk. If it's not recorded then it don't count.