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Assignment of Residential Real Estate Purchase and Sale Agreement

The document assigns all rights and interest in a residential real estate purchase and sale agreement for a property located at a specified address. It transfers these rights from an Assignor to an Assignee for a total purchase price of a certain amount of dollars. The Assignee must deliver an earnest money deposit by a specified date or the assignment becomes void. The Assignee close of escrow date supersedes the original agreement date. The Assignee takes on responsibilities for fees and must abide by the terms of the original agreement, but may not terminate or contact tenants before close. If the Assignee does not fund on the assigned date, the assignment becomes void and earnest money is released to the Assignor, with the Assignee liable for

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236 views1 page

Assignment of Residential Real Estate Purchase and Sale Agreement

The document assigns all rights and interest in a residential real estate purchase and sale agreement for a property located at a specified address. It transfers these rights from an Assignor to an Assignee for a total purchase price of a certain amount of dollars. The Assignee must deliver an earnest money deposit by a specified date or the assignment becomes void. The Assignee close of escrow date supersedes the original agreement date. The Assignee takes on responsibilities for fees and must abide by the terms of the original agreement, but may not terminate or contact tenants before close. If the Assignee does not fund on the assigned date, the assignment becomes void and earnest money is released to the Assignor, with the Assignee liable for

Uploaded by

Data Really Cool
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ASSIGNMENT OF RESIDENTIAL REAL ESTATE


PURCHASE AND SALE AGREEMENT

Assignor:
Assignee:

For the total purchase price of ____________________________________________ Dollars


($______________), the undersigned Assignor does hereby assign to the Assignee all rights,
title, and interest in and to the Residential Real Estate Purchase and Sale Agreement for the
real property located at:
_______________________________________________________.

Assignee shall deliver ($______________) as an Earnest Money Deposit to escrow. If the


Earnest Money Deposit is not received by escrow by ________________, this Assignment of
Residential Real Estate Purchase and Sale Agreement is void.

“Assignee Close of Escrow Date” is on ________________. This date supersedes the Close of
Escrow date on the Residential Real Estate Purchase and Sale Agreement.

Assignee shall pay all escrow fees, HOA fees, ALTA Loan Policy, Homeowners Policy, and
recording fees and shall otherwise abide by the terms and conditions of the Residential Real
Estate Purchase and Sale Agreement. Assignee may not terminate the Residential Real
Estate Purchase and Sale Agreement for any reason. Assignee may not contact or otherwise
disturb the tenants or occupants of the Property before the close of escrow.

Assignee Default Clause


If Assignee does not fund on the “Assignee Close of Escrow Date”, the Assignment of
Residential Real Estate Purchase and Sale Agreement is void. The Escrow Company shall
immediately release Earnest Money Deposit to the Assignor. Assignee shall be liable for all
damages caused to the Assignor. This clause shall apply unless (a) Assignee is unable to
insure title to the Property, (b) Seller is unable to deliver clear title to the Assignee, (c) Seller
fails to execute all documents necessary to timely close escrow on the sale of the Property.

In the event of a dispute concerning the interpretation or enforcement of this Assignment,


the prevailing party shall recover their reasonable attorneys’ fees and costs. This
Assignment shall go into effect upon the signatures from Assignor and Assignee.

Assignee: Date

Assignor: Date

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