The question that I have is in the area of assigning real estate property to another buyer. I have found a good deal on a property, I am willing to sign a contract to take ownership of the property. However, I plan on assigning this property over to someone else before the closing. So in a sense I never actually own the property, I would just act as the middle man to help out another person get a good deal for my efforts and receive a small profit. Is this legal in the state of Texas? If so what contract form is acceptable between the seller and buyer ? Please help. Thank you.
Answered on: 3/13/13, 8:07 am by Joseph A. McDermott, III
Based on the limited facts you present, this appears legal -- unless you have some sort of relationship to the seller or ultimate buyer where you owe him a duty of loyalty. You need language in the original contract allowing you to assign it. This deal is too complicated for you to handle without a lawyer, unless you're experienced in real estate transactions.
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