Not informing the seller ahead of time your intent to assign the contract to someone else may cause major problems with the seller if feel they were misled or deceived.
As in the case stated above with my most recent property, the person assigning me the contract is making $2000 on this one transaction.
If you think about it, you would already pay a realtor 3% for representing you as your agent.
Either way you are still paying for someone to help facilitate the transaction unless you find the seller yourself.
You cannot get a third party involved in the deal with you.
You also are not able to assign the contract to a third-party for a fee as in the case stated above.If you are the assigning party, you add a fee into the transaction so you get paid as the dealmaker between the seller and buyer.There are no added expenses on your end because you are getting paid a fee that is specified in the contract, and agreed to by the seller and buyer.Your only option is for you to go through with the purchase of the property yourself.“The Buyer reserves the right to assign this contract in whole or in part to any third party without further notice to the Seller; said assignment not to relieve the Buyer from his or her obligation to complete the terms and conditions of this contract should be assigning default.”Because I am a buy-and-hold investor, I usually am in the receiving end of an assignment contract.The person I am receiving the assignment from will make 00 from the assignment of the contract to me.To transfer to another person (the assignee) all or some of the rights and responsibilities that another person (the assignor) holds under a contract.For example, a tenant may assign his lease to another person, who then has the right to live in the rental and the obligation to honor all terms of the lease.The first document will be your purchase from the seller and the second would be your sale to a buyer.If you purchase a property for 0,000 and use a realtor, more than likely you will be charged 3% for the realtor representing you as the buyer’s agent.By adding “ and or assigns ” after your name as the buyer, you now have the rights to lease, rent, repair, assign, or sell the property for profit.You can even go through with the purchase as originally intended with you is the buyer and not do any assigning.