How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Loren Your Own Question
Loren, Lawyer
Category: Real Estate Law
Satisfied Customers: 33457
Experience:  30 years of real estate practice experience.
Type Your Real Estate Law Question Here...
Loren is online now
A new question is answered every 9 seconds

I am a real estate wholesaler i need to do a contract

Customer Question

i am a real estate wholesaler i need to do a contract assignment with my end buyer, an i am also surcuring the financing for him, what clause can i use to let the lender feel confortable with the fact that i am wholeselling this to an end buyer and that this property is not in my business name yet?
Submitted: 2 years ago.
Category: Real Estate Law
Expert:  Loren replied 2 years ago.
Thank you for using JustAnswer. I am Loren, a licensed attorney, and I will do whatever I can to answer your question.
Usually, the
"Buyer may, without the consent of seller, assign its rights under this contract to another entity."
If the bank does commercial real estate lending then they should have plenty of experience with this type of transaction.
All the lender will want to see is the signed assignement, but they should be informed from the start that the contract is to be assigned.
Best regards.
Expert:  Loren replied 2 years ago.

Did you have further questions before you rate my service to you?