Once You Get An Offer Accepted...What Are Steps For Assigning Contract
Can anyone out there please tell me what do you do once you get an offer accepted?
I know about the assignable Purchase Agreement and I also have an Assignment Agreement to use for these deals.
What I need to know is ,does the 2nd buyer use his own purchase agreement (confused) or does he simply use the 1st agreement that is signed with the seller and I because it is assignable??. If so, please explain, how I change the price in the first agreement to my selling price?? (confusing)
Secondly, what about back taxes, and other costs involved. How do you write that in the contract to be paid by the buyer?
Your comments will be greatly appreciated!
Thanks!
Bea
Thank you General for your response! I understand the concept of this type of transaction. I was confused about the details of writing the agreement. So I contacted a title company yesterday that has worked with assignable agreements. The agent who closed a deal like this yesterday a.m., explained, and faxed over an addendum to the original contract, so that I could see an example of how it is written.
Your deal sounds awesome! One question, did you have to disclose your fee to the seller? How is this handled?
Thanks again!
Bea
General I am a first time investor. I am interested in assigning contracts. I wanted to know if you know of any reliable resources on how to get started. I was emailed an offer to buy a e-book by the author who wrote "Find and Assign." Are you familiar with this book? I just need to know how to get started and where to get the forms. I need help! Your comments will be greatly appreciated!
Thanks in advance,
Anita
I am also confused. After reading it a second time I think he either lost 6k or made 52k, Im not sure. Please help us out general.