Steve D Valentine explains that Arizona contracts can be assigned to another buyer unless the contract explicitly forbids it. He made six figures by taking over a VA buyer's contract, refunding their costs and flipping the property without repairs.
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You guys know in the state of Arizona, unless the contract says it cannot be assigned, that you can assign any freaking contract without the seller's permission. Okay? I remember this agent, when he called my man, I haven't heard from this guy in years, but, man, he was a badass. So I remember this dude, my home group, he had a VA buyer for sale by owner. Had it all locked up, but the seller wouldn't budge on repairs and VA lender wouldn't do anything. So he calls, he's like, hey, I think this is a really good deal for you. I have it under contract. What should I do? And can I keep the commission? I'm like, yes, you can keep the commission, and yes, you can assign the contract to me, and I'll refund the buyer, their inspections, and all the things. And that's what we did. We bought that POS and we sat on it for a month, and we turned around, put it back on the market, and made six figures on it without touching it. So keep in mind, when your buyers are negotiating things and they want out, think about, like, can this contract be assigned to somebody? Is there something else that can go here? Right? Because it is a possibility, right? So sometimes we forget that if there's time left in the inspection or those times, you're like, is there somebody else that, like, was it a multiple offer situation? Is there somewhere else I can move this?
