Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on Twitter

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Realtor CommunityA popular online real estate community since 1998!


Advertisements


Sponsored Links
Good Idea!
The ultimate marketing tool

Advertisements
How To Advertise Here
How To Advertise Here

Sponsored Links
(Views)Popular Topics
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 28269339
No new orders today 13101742
Stupid MLS comments. 3276643
What do you know about Froy Candelario, top agent in USA 1189415
Stupid QC comments and BPO requirements. 1061105
New HUD Listing Brokers---Any Update? 1028116
Is there religious content in Buffini class? 822581
Let's talk about our cars 670945
Name that Flick. Great movie Lines. 602695
Pay it Forward - BPO/REO Tips & Tricks I & II 592369
Most common items found at an REO 575889
EML 459232
REOTRANS 440725
Main Street 419405
asset val seminar in colorado 407144
assist 2 sell or 1 percent realty? 340432
HOMONYMS - There, Their, and They're 306760
Evalonline 300191
Land America 285052
Mainstreet 261859
Matched Content
Topic Options
Rate This Topic
#449542 - 12/24/15 03:06 PM can I do a contract assignment
bsl Offline
Junior Member

Registered: 12/24/15
Posts: 2
Loc: IL
I have an opp that has come my way I wanted to know if anyone knows if I can do a contract assignment on my contract for deed to flip for a profit

Top
Advertisements
#449547 - 12/25/15 12:06 AM Re: can I do a contract assignment [Re: bsl]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7717
Loc: Vermont's North-East Kingdom
Are Land Contracts legal in Illinois ?

If so, you probably can do an assignment, using another Contract between you and the ultimate Purchaser . . . . but you should advise the original Seller. You can "assign" your Rights; but not your Responsibilities.

If you have lined up a Buyer, then I'd seek the advice of an Attorney who has actually been involved in transactions like this (Contracts for Deed or Land Contracts).

When I first did one, the Attorney involved had only read about them in Law School; and he had been practicing Law here for over 30 years.

PS: They may also be referred to as "Installment Contracts" in Illinois; but it appears that they're legal. Here's a little explanation of how they work:

Installment Contracts


Edited by Vermont (12/25/15 01:41 AM)
Edit Reason: Added PostScript
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

Top






Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Search

Newest Members
Reguru1, Shaun225, Dr.Brim, james luis, Snapple
29795 Registered Users
Who's Online
4 registered (JohnN, Mr. G, 2 invisible), 30 Guests and 4 Spiders online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
Long Walk 74
Vermont 39
estatereal 18
Flare616 16
Trouble 13
Snapple 12
RonnieEmz 12
Logan Five 11
Lucky Leonardo 11
Analog Man 10
waka 9
Mr. Clean 8
Flammable 8
TheTexasGal 8
gitmonee 8
Featured Member
Registered: 01/18/11
Posts: 282
Facebook

How To Advertise Here


This site presented by RNC Internet Services