Assignment Agreement eform
Escrow agent is hereby instructed and directed that the Assignee(s) in the above-referenced escrow is/are and you are hereby instructed to treat said assignee(s) in all respects as though they were the original purchaser(s) to said escrow.
PURCHASE PRICE & ASSIGNMENT FEE: Assignee understands he will pay $ for the property located at . This price does not include an assignment fee total of $ to be paid to , This assignment fee will be paid through escrow by the assignee.
ESCROW & EARNEST: Assignee will deposit $2,500 as non-refundable earnest money, in the form of a cashier’s check or wire, to be delivered to (the “Escrow Agent”) by The assignor will use the funds from the earnest money deposited by assignee as earnest money deposit to the first and original purchase contract and or predecessor assignment of contract. This Assignment does not transfer any earnest monies that the Assignor may have on deposit. Any earnest funds that the Assignor deposited with will be credited back to the Assignor upon receipt of Assignee’s earnest funds.
CANCELLATION: If Assignee fails to execute and return this agreement to the assignor by this agreement shall become VOID. If Assignee fails to deposit earnest funds by at this agreement shall become VOID with the Assignee having no further rights or interest in the contract.
CLOSE OF ESCROW: Assignee agrees to close escrow on or before If the COE does not occur before 5:00 P.M. on then this assignment is considered null and void and all rights transfer back to the Assignor and Assignee forfeits their non-refundable earnest deposit.
The undersigned Assignee(s), jointly and severally, hereby accept the appointment as Assignee hereunder, and indicates that he has received, read, and approved the contract controlling this transaction and any other related documents thereto, and accepts the obligations and rights imposed and granted hereunder.
Unless stated otherwise, assignee cannot advertise or promote the property for sale, or reassign to a different party prior to the Close of Escrow. If assignee does promote the property for sale or reassign to a different party prior to the Close of Escrow, this agreement shall become VOID immediately. Principle buyers only.
Assignor reserves the right to continue to offer Property for sale until this assignment has been fully executed by both parties & earnest money has been deposited to by assignee.
ASSIGNOR ACKNOWLEDGES THAT THERE WILL BE A 1099-MISC FILED WITH THE INTERNAL REVENUE SERVICE IN THE AMOUNT OF THE ASSIGNMENT FEE (IF ANY), UPON DISBURSEMENT TO ASSIGNOR AT CLOSE OF ESCROW.
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Signed by LAWRENCE ALLMOND
Signed On: March 2, 2021
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Document Name: Assignment Agreement eform
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