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Option and Assignment |
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I have an investor willing to buy my home but he wants a contract with the option to purchase the home for 30 days with an assignment clause. What are the cons in doing this? |
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Sorry, but I don't know the whole situation. It sounds as if he hopes to re-sell the property or rather, to turn it over at a profit without actually buying it at all. I can't judge if this is a good idea, and I don't know anything about your situation, whether you can afford to tie the house up that way, if he's financially reliable etc. With any unusual contract provision, I myself would contact a real estate lawyer before signing anything. |
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Edith
Originally published on August 19, 2009 |
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