Tips on Selling Assignments

Selling on Assignment

Selling on assignment refers to having a house in contract to purchase, and you assign the contract to another buyer for a finder's fee or commission.  This is one of several ways of making money in real estate, particularly in hot markets.

Tips on Assignment

Be upfront with the seller if you plan to assign the contract.  Leaving it to the fine print to inform the seller is a sure way to cause bad feelings.  You do not have to disclose any particulars with the seller.

Absolutely, under no circumstances, let the assignee (the person you are assigning the contract to) inspect the property without you present.  You want to be involved in any communication that goes on between the seller and the assignee.  

Make sure that your contract has strong enough wording to allow you to assign it.

Ensure that you have a solid signed contract with the seller before having any potential assignee inspect the property.

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