Assignment Of Contract For Purchase & Sale Of Real Estate
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1
2ASSIGNMENT OF CONTRACT
FOR PURCHASE & SALE OF REAL ESTATE
Purchase & S ale Agreement: In reference to the ATTACHED contract for purchase and sale, concerning the
property described as
,
County of
District
Land Lot
, dated
between Buyer (also referred to hereafter as Assignor):
, and Seller:
, with purchase price of
dollars ($
).
Assignment and Fee: Assignor hereby assigns all rights to said contract for purchase and sale of real estate to
Buyer/Assignee:
for a
grand total cost to Buyer/Assignee of
dollars ($
).
Buyer/Assignee agrees to purchase and close on this property on or before
and to fulfill all
conditions and terms of said purchase contract and of this Assignment of Contract.
Financial Summary & Settlement Statement Recap:
101.
Purchase Agreement Price to be Paid to Seller
$
201.
Credit from Seller at Closing for Earnest Money Paid by Assignor
$
808.
Assignment Fee to Assignor
+ $
Reimbursement to Assignor for Earnest Money Paid to Seller
+ $
Less Earnest Money Paid by Assignee to Assignor
- $
Total to be Paid to Assignor at Closing
**
= $
**Please show this amount on Settlement Statement as "Assignment Fee” and make proceeds
check payable to
.
Proof of Funding: Assignor, at his sole discretion, reserves the right to terminate this Assignment if proof of funding
in the form of
approval letter from Lender and evidence of additional cash required to close
is not received by
Assignor by 5:00 PM on
.
Earnest Money: This agreement is NOT BINDING upon Assignor until Assignor has received earnest money of
One Thousand
dollars ($1,000.00) from the Buyer/Assignee and the funds have cleared the bank. Earnest money will
be held by
.
Buy e
r
Initials:
[ ] Buyer/Assignee’s earnest money is NON-refundable, AND Buyer/Assignee has a binding
mus t
Assignment (we will turn away any other offers; this locks in your price).
- OR -
initial
Initials:
[ ] Buyer/Assignee’s earnest money is refundable until proof of funding is received after which it
o n e
becomes non-refundable. Assignor will be able to continue marketing the house until the earnest money is
o
f
non-refundable. If a better offer is received by Assignor, then Buyer/Assignee will have 12 hours to match that offer and
these
make their earnest money non-refundable, otherwise the Assignor may declare this Assignment null & void and earnest
2
money will be refunded.
Default & Special Provisions:
If Assignor, or Seller fails to perform, then the Buyer/Assignee will be entitled to the
return of the earnest money deposit as full liquidated damages. Earnest money is non-refundable for any other reason
except as otherwise stated in this Assignment. Buyer/Assignee agrees to fulfill all conditions and terms of said purchase
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