Assigning Real Estate Contract Takes Planning

April 29, 2010 - PRLog -- The Real Estate Investing Minute, a weekly web tv show dedicated this week’s episode to answering viewer questions. One question centered around the process of buying a bank owned home for the purpose of quickly selling it, or wholesaling it, to another investor.  The viewer wanted to know how to complete the process without disrupting the closing.

“For the most part in today’s market the banks want to only deal with the buyer of the property.  They are not fans of assigned contracts and probably will not let them be executed.  Unfortunately so many banks have had offers they accepted only to find out the person making the offer could not purchase the home and was trying to find another buyer for it.” According to Judson Voss, producer and Co-Host.

Other questions answered on this week’s episode included “How to sort through all of the short sale listings available through Realtors on the MLS.” In today’s market there are a plethora of short sale listings.  The hosts answered the question with a question, “What type of home are you searching for?” Co-Host and Licensed Realtor, Allison McArthur explained that investors searching for homes need to know exactly what type of home and it’s criteria before asking a Realtor to do a search on the MLS. With so many short sale listings today investors need to have a picture of the home they want so that they can assist their Realtor in performing the search.

For more information about assigning real estate contracts and searching for foreclosed homes and short sales, visit thereiminute.com/how-to-assign-a-real-estate-contract

# # #

To learn more about The REI Minute and Get Real, The Real Estate Investing Show for the Rest of Us, top rated iTunes business podcasts, visit thereiminute.com