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
Advertisements
How To Advertise Here
How To Advertise Here

Good Idea!
Realtor Promotion Service

Sponsored Links
(Views)Popular Topics
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 28449853
No new orders today 13134363
Stupid MLS comments. 3337854
What do you know about Froy Candelario, top agent in USA 1223944
Stupid QC comments and BPO requirements. 1099843
New HUD Listing Brokers---Any Update? 1054565
Is there religious content in Buffini class? 843185
Let's talk about our cars 696238
Name that Flick. Great movie Lines. 621585
Most common items found at an REO 614598
Pay it Forward - BPO/REO Tips & Tricks I & II 612011
REOTRANS 460319
EML 459235
Main Street 441398
asset val seminar in colorado 421135
assist 2 sell or 1 percent realty? 352269
HOMONYMS - There, Their, and They're 327522
Evalonline 300209
Land America 285053
Mainstreet 261860
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: 7828
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
nethgerona1, philgore, Don2233, Pam Ivey, Ernie
30070 Registered Users
Who's Online
2 registered (philgore, 1 invisible), 67 Guests and 3 Spiders online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
Long Walk 34
Vermont 18
kirastan 15
estatereal 13
Gamin' Agent 10
sualk54 8
Mr. Clean 7
Trouble 6
realtor12345 6
reolady123 6
Danny1 5
DJM 5
Ernie 4
Bigtoe 4
RonnieEmz 4
Featured Member
Registered: 04/17/18
Posts: 1
Facebook

How To Advertise Here


This site presented by RNC Internet Services