Question about assigning contracts

if i am out of money to buy lands , can you send mail to owners and ask them to resell their land for amount and i keep the rest , for example : i can say give me 90 days and i will sell your land for 1000 and i keep the rest if i sell it , and when i sell it i will do double closing

@adamalabbadi Yes, you might want to familiarize yourself with this topic:

Best of luck!


@adamalabbadi I don't really know what I'm talking about here and haven't checked out that blog post DanielC linked to, but just reading your initial post, there is one thing that jumps out at me. That is, if you're saying that you would represent to the original seller of the land that you intend to sell their property for $X, of which you will keep $Z for yourself, I feel like that might get too close to operating as a real estate agent/broker without a license (I presume you're unlicensed). Personally I feel like I'd steer clear of anything remotely similar to, "I'm going to sell your property for you and keep a cut for my effort." Instead, it seems to me you could just focus on the amount that you will buy their property for, whether as a purchase and sale agreement or as an option, with sufficient closing period and contingencies to allow you to back out if you need to, and language that allows you to assign the contract. Then, what you do with the property or contract after that shouldn't really matter to the seller, as long as they either get paid or the agreement expires without issue. It might seem like a subtle distinction between these approaches, but it seems like a potentially important one to me. But again, I'm no attorney and have no personal experience in this regard, so you definitely shouldn't take my word for it. :-)

I think you're right about doing a double closing, if you're planning to keep a much bigger portion of the full sale price beyond the $1K. The trick would be coordinating with the investor-buyer - if you're able to find one in time - and finding an escrow office that can handle all of this, especially with a lower dollar deal like that.

Seems like there would be easier ways to make a buck assigning contracts and just taking a smaller assignment fee, but it's hard to say for sure until you try.