Can I Assign My Purchase Contract Prior to Closing?

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In this tutorial video, we'll talk about whether home buyers are able to assign their purchase contracts to other buyers before closing happens.

As it turns out, in many states like Florida which use standard Realtor association purchase contracts, there is clear, fill-in-the-blank language specifying whether the buyer is allowed or not allowed to assign the contract to someone else, and what the default option is if none are selected.

Remember, being able to assign a contract simply means having someone else take over your contract, i.e. step into your shoes.

This could happen for a variety of reasons for a real estate transaction. Perhaps it's a quickly changing market, and prices are moving up so fast that prior to closing prices have already gone up a lot, and the buyer wishes to flip it prior to actually closing to a new buyer for more money.

Or perhaps the buyer has had a change of financial circumstances and needs to back out of the contract, or wishes for a family member to step in for whatever reason.

As we'll show in this video, we'll go over what the standard Florida Realtor contract says in regards to assigning the contract, and what parties typically opt to do.

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Hauseit Group LLC, Licensed Real Estate Broker
Tel: (888) 494-8258 | https://www.hauseit.com
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