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Add initials Assignment Agreement

welcome back how are you guys doing i know i haven't been posting as much as i should but i'm trying to be a little bit more consistent with it so today we're going to finish up what we did in the last video where we talked about the purchase and sales agreement we're going to be talking about the assignment agreement we're going to be going through it paragraph by paragraph and trying to understand exactly what every sentence means that way when you're dealing with the investor you know exactly what your contract says and even if you're not using the contracts that i have linked in my bio you can use any other contracts they all have the same verbatim when it comes to the wording uh so if you understand this one you're going to understand any other one so let's start i just want to go over one thing before we start this is the assignment agreement this is the contract between you and the investor the end buyer this is the person that you assign the contract to so let's say you got the contract at 200 000 with the homeowner this is where you're assigning it for 220 000 and making that 20 000 assignment fee so the purchase and sales agreement is between you and the homeowner the assignment agreement is between you and the investor all right so first step we have is the subject property which is the property address so if you're talking about one two three main street you would put one two three main street the city the state the zip code um pretty self-explanatory the second part is this agreement is made between the assigner your name and llc and the assignee which is the end buyer the cash buyer regarding purchase of the above reference subject property so you are the assigner you're the one that is wholesaling the property the assignee is the end buyer the cash buyer just so you guys don't forget i have them labeled so you know exactly which one you are so where it says assignor it's your name your llc again you don't need an llc to start wholesaling eventually after your first or second deal i'd highly recommend it for tax purposes and liability but you don't need one to start and then for the assignee it is the end buyer the cash buyer either his or her name or their llc okay next up whereas your name or llc which is the buyer has entered into a purchase and sales agreement with the homeowner the seller for the purchase of subject property and whereas buyer wishes to assign its rights interests and obligations in the purchase and sales agreement it is hereby agreed between assignor and assignee as follows all right so let's start it says that you have entered into a purchase and sales agreement with the homeowner so this is what you did with...