Instructions For Filling Out An Assignment Of Contract
The “subject property” is the address of the house.
Leave the next line (legal description) blank.
Replace “Your Company” with your company's name. Replace “Investor X" with the name (or company name) of whoever you're assigning the contract to (Buyer). Replace “Sally Jane” with the name of your Seller.
Replace $6,000 with the amount of your assignment fee.
Replace $4,000 with the amount of the deposit from the buyer.
To complete the assignment of contract, You sign and date the ASSIGNOR areas
and the buyer signs and dates the ASSIGNEE areas.
Legal Description: _____________________________________________________________
This agreement is made between Your Company (ASSIGNOR) and Investor X (ASSIGNEE) regarding purchase of above referenced SUBJECT PROPERTY.
Whereas Your Company (BUYER)__ has entered into a Purchase and Sales Agreement with Sallie Jane (SELLER)__ for the purchase of SUBJECT PROPERTY______________________ and whereas BUYER wishes to assign its rights, interests and obligations in the Purchase and Sales Agreement, it is hereby agreed between ASSIGNOR and ASSIGNEE as follows:
1. ASSIGNEE shall pay ASSIGNOR a NON-REFUNDABLE assignment fee of $6,000 (payable $3,000 with signing of contract and balance at close).
2. Assignee’s inspection period shall expire upon execution of this Assignment. ASSIGNEE accepts all terms and conditions of the contract for Sale and Purchase between BUYER and SELLER in its entirety.
3. ASSIGNEE acknowledges receipt of legible copies of the original Contract for Sale and Purchase in its entirety including all Addendums associated with this transaction.
4. Additional terms and conditions of this Assignment are as follows: This assignment contract is non-assignable without the express written consent of the ASSIGNOR. No changes to the Purchase Contract can be made without written Consent of
5. Disclosures and Acknowledgement:
a) ASSIGNOR and affiliated associates make no warranty, expressed or implied, regarding inspection reports or other reports provided to ASSIGNEE by ASSIGNOR or third parties concerning this property.
b) ASSIGNEE acknowledges they are conducting a transaction dealing directly with ASSIGNOR for the purchase of SUBJECT PROPERTY.
c.) ASSIGNEE is not relying upon or being represented by a REAL ESTATE BROKERAGE in this transaction.
AGREED AND ACCEPTED
#1 ASSIGNOR (____________________________________)
#2 ASSIGNOR (____________________________________)
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