Saturday, May 21, 2016

Assignment of Residential Purchase Contract

Assignment of Residential Purchase Contract


         In consideration of the sum of $_________ (_______ Dollars), along with earnest monies as defined below and other good and valuable consideration, and the mutual benefits to be delivered by all parties to this agreement, the undersigned __________________, LLC (Assignor) does hereby assign unto __________________, LLC (Assignee) all rights, interests, suits, claims, obligations, responsibilities, and titles to a Purchase and Sale Agreement dated ______________, 201__ by and between __________________, LLC as purchaser and __________________ as seller. 

            This Assignment is concerning the real property located at:  __________________ with an APN # of __________________.

            Assignee is aware that they are purchasing the property as-is, where-is, for cash and with no inspection period.

            CLOSE OF ESCROW DATE & MUTUAL CANCELATION CLAUSE:  Assignee  agrees to close escrow on or before __________, 201___.  If the COE does not occur before 6:00 P.M. PST on _________, 201__ then this assignment is considered null and void and all rights transfer back to the Assignor and Assignee forfeits their non-refundable earnest deposit.

Disbursement of Assignment fees shall be as follows:

$ _________ (_______ Thousand Dollars) upon close of escrow and paid through title. 

            In addition to the Assignment consideration, Assignee herein agrees to deposit earnest money of $_________ (_________ Hundred Dollars) into escrow which will become immediately NON-REFUNDABLE as long as __________________, LLC can produce clear title.  Assignee permits Title Company to continue communicating with Assignor during the course of this transaction and provide Assignor with a copy of the settlement statement after actual Close of Escrow.


Executed this ____ day of __________, 201__.


________________________________                                 ________________________________
Assignee Printed Name                                                    Assignee Signature


________________________________                                 ________________________________
Assignor Printed Name                                                     Assignor Signature

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