Many sellers are not familiar with the assignment process, so if the role of the buyer is going to change along the way, the seller needs to be aware of this at or before the time they sign the original purchase agreement. RELATED: Wholesaling Made Simple! A Comprehensive Guide to Assigning Contracts Communicate, Communicate, Communicateįrom the very beginning, it’s important for a wholesaler to communicate with their seller about their intent to assign the contract. Most standard purchase agreements do not include this language by default, so if the buyer plans to sell/assign the contract, they need to make sure this language is included (note: talk with an attorney to make sure the language included and explained correctly). The purchase agreement needs to contain language that clearly allows the buyer to assign their rights in the agreement to a third party.

Once a motivated seller has agreed to sell their property at a discounted price, they will sign a purchase agreement with the wholesaler. RELATED: What is “Driving for Dollars” and How Does It Work? Get a Purchase Agreement Signed That sense of urgency works to the wholesaler’s advantage in negotiating a price that will be attractive to buyers and cover their assignment fee. Typically, for wholesaling to work, a wholesaler needs a motivated seller who wants to unload the property as soon as possible. This is where the heavy lifting happens-investors use many different marketing tactics to find leads and identify properties that work with their investing strategy. The process for assigning a contract follows some common steps.

Assigning meaning