California Association Of Realtors Assignment Of Agreement Addendum

Q: Last night, our listing agent called to say that buyers of our current home are assigning the purchase of our home to another buyer. Although buyers have already secured a loan and removed all inspection risks, they attribute the purchase to a third party we have never encountered. The listing agent informs us that we may refuse the assignment to the other buyer. He advises us to refuse the mission. We have already bought another house. We don`t want to lose a large property because the buyers of our home are replaced. Honestly, we don`t know who will buy our property, because we just have to sell it. Do you want us to change buyers or refuse the transfer? A: Your real estate agent does not advise you to refuse a contract assignment because he is not your lawyer. Assignment clauses are always “hidden” in sales contracts. The Silicon Valley PRDS Local Sales Agreement, used in Santa Cruz, Santa Clara and San Mateo counties, contains an assignment agreement that states that “this contract cannot be assigned without the prior written consent of the seller, whose consent cannot be inappropriately withheld.” The California Association of Realtors (C.A.R.) sales contract is used in all 58 counties. The similar assignment clause is as follows: “Without first obtaining the seller`s separate written agreement with a particular assignee.

This consent must not be inappropriately withheld. There are other brands of sales contracts that are used in the nine Bay Area counties. Regardless of that, you understand the point. You have probably already accepted the possibility of an assignment and you cannot inappropriately refuse your consent. The assignment clause of the C.A.R. requires the parties to use their assignment supplement (C.A.R. Form AOAA) if an assignment is initiated. == The AOAA form contains nine paragraphs serving as a roadmap for the award of contracts. Your agent could have curbed the possibility of an order becoming a fiasco by removing the clause in advance when ratifying your offer to purchase. It`s too late. If you want to continue the assignment, your officer must take her home safely.

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