Assignment of Real Estate Contract question

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Posted by Steven-Utah on November 20, 2008 at 11:11:38:

Just a small question.
Since I don't have a Purchase and Sale Agreement, would I change that in the ASSIGNMENT OF REAL ESTATE CONTRACT to "Real Estate Purchase Contract" of residential property... (Which I Do Have)?

Or should I just leave it the way it is?
Here is the original:

ASSIGNMENT OF REAL ESTATE CONTRACT

The undersigned assignor, having executed a Purchase and Sale Agreement of residential property dated the ___ day of ___ 2008 between _____(Buyer) and _________ (Seller) concerning the property described as _______. ________ hereby assigns all rights to said Contract to _________ (Assignee) in exchange for compensation in the amount of ______.

Assignee agrees to fulfill all terms, conditions, and contingencies or lack of contingencies of said Contract and to perform as required in good faith and within any time periods established by said Contract.
Assignor will not be held responsible for the performance of the Assignee, and shall further be held harmless for any other circumstances arising from or in connection with the property.

Assignee shall put in escrow with Assignor’s title company a non refundable payment in the amount of One Thousand Dollars and 00/100 ($1,000.00). The assignment fee shall be due at closing. The deposit is only refundable if the title is not clear and conveyable or if settlement does not happen due to some action by the seller.

______________________________
Assignor Date

______________________________
Assignee Date

Proposed change:

ASSIGNMENT OF REAL ESTATE CONTRACT

The undersigned assignor, having executed a Real Estate Purchase Contract of residential property dated the ___ day of ___ 2008 between _____(Buyer) and _________ (Seller) concerning the property described as _______. ________ hereby assigns all rights to said Contract to _________ (Assignee) in exchange for compensation in the amount of ______.

Assignee agrees to fulfill all terms, conditions, and contingencies or lack of contingencies of said Contract and to perform as required in good faith and within any time periods established by said Contract.
Assignor will not be held responsible for the performance of the Assignee, and shall further be held harmless for any other circumstances arising from or in connection with the property.

Assignee shall put in escrow with Assignor’s title company a non refundable payment in the amount of One Thousand Dollars and 00/100 ($1,000.00). The assignment fee shall be due at closing. The deposit is only refundable if the title is not clear and conveyable or if settlement does not happen due to some action by the seller.

______________________________
Assignor Date

______________________________
Assignee Date


Thanks for any Info
Steven-Ut


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