Let it Not Be Said "Every Sale Is The Same" (Part 2)

Let it Not Be Said "Every Sale Is The Same" (Part 2)

Adding or changing buyers during escrow may be allowable in California real estate contracts according to the Bureau of Real Estate. The Reference Book - A Real Estate Guide explains in part, "Whether the contract is assignable depends upon its nature and terms. Ordinarily, either a bilateral or a unilateral contract is assignable unless it calls for some personal quality of the promisor, or unless it expressly or impliedly negates the right to assign. The contract might expressly provide that it shall not be assigned, or contain provisions which are equivalent to such expressed stipulations, or require consent to assign."

How does changing a Buyer impact the Seller?  Other than sending a chill through your spine by the abrupt change, it should have minimal impact on the Seller.  The substitute or additional buyer must meet all of the obligations of the original buyer or, prepare be at risk for legal action.

Now, back to our story, adding or changing buyers does happen and it sometimes happens with owner occupants, investors and speculators when they buy property.  

Take comfort in knowing you selected the right agent to represent you andtrust in their abilities.  That's why you did your homework upfront interviewing everyone, right? 

As each day and year comes to an end and we look forward to what tomorrow brings, professionals of the real estate world are working hard to protect your interests. 

None of us knows what tomorrow will bring, but I wish you blessings for whatever you receive - even if it's an assignment on your contract.  It will be alright.

As always, let's foresee the possibilities . . . and get results!