How assignment works
First you sign a purchase agreement with the seller, as the buyer. If that agreement allows assignment, you can then sign an assignment agreement with a cash buyer, who steps into your place and closes with the seller. You earn the assignment fee at closing.
What the two contracts usually include
- Purchase agreement: property, price, earnest money, closing date, inspection or due diligence period, and a clause allowing assignment (often written as buyer name "and/or assigns").
- Assignment agreement: the original contract it assigns, the assignee, the assignment fee, the assignee's earnest money, and who covers closing costs.
Assignment vs. double close
With an assignment, the buyer takes over your contract and you are paid a fee at one closing. With a double close, you buy the property and resell it in two back-to-back closings. Assignments are simpler and cheaper; a double close keeps your fee private but costs more. Your title company can help you choose.
Get contracts signed in minutes
Carbon REI lets you send, sign and store purchase agreements and assignment contracts digitally, then send the signed contract to your title company with one click from the title company directory. Signed seller contracts are matched to buyers in the 4,000+ buyer network.
Legal note
Contract rules and wholesaling laws vary by state. Use contracts reviewed by a local real estate attorney. This page is general information, not legal advice.
"There isn't a single reason I wouldn't suggest investing in Carbon REI. Smooth, user friendly, and it makes it easy to stay organized and get the deals you want."
Individual result. Results vary and are not guaranteed.
Frequently asked questions
Is an assignment contract legal?+
Assigning a purchase contract is legal in most states when the contract allows it, but some states and cities regulate wholesaling. Check local rules with an attorney.
When does the wholesaler get paid?+
The assignment fee is usually paid at closing through the title company.
Can I e-sign wholesale contracts?+
Yes. Carbon REI includes e-sign for purchase agreements and assignment contracts.