Land Assignment Contracts Explained
How an assignment of contract works in a land wholesale deal.
What's actually being sold
An assignment contract transfers the wholesaler's contractual right to purchase the property, not the property itself, to a new buyer, in exchange for an assignment fee. The original seller closes directly with the end buyer.
Where a licensed brokerage fits in
Because real estate commission rules vary by state, many wholesalers work through a licensed brokerage to structure the transaction properly and keep the deal compliant, particularly when a referral or transaction fee is involved.
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