There are no added expenses on your end because you are getting paid a fee that is specified in the contract, and agreed to by the seller and buyer. If you are the assigning party, you add a fee into the transaction so you get paid as the dealmaker between the seller and buyer. You Get Paid An Assignment Fee as the Broker of the Deal You can even go through with the purchase as originally intended with you is the buyer and not do any assigning. You also are not able to assign the contract to a third-party for a fee as in the case stated above.īy adding “ its successors and or assigns ” after your name as the buyer, you now have the rights to lease, rent, repair, assign, or sell the property for profit. You cannot get a third party involved in the deal with you. ![]() ![]() When you enter into a assignment of contract in real estate without “ its successors and or assigns ” your only option is for you to purchase the property as the contract states. Pro's and Con's for Its Successors And or assigns Gives you control over the contract and property Now that I explained how I have used it in the past, let me give you the pros and cons for using “ and or assigns ” in your contracts.
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