Seller and Buyer Real Estate Representation

3 SW 129th Avenue, Suite 202, Pembroke Pines, FL 33027

954-433-9784

Vigoalaw.com

eugene@vigoalaw.com

Thursday, November 10, 2016

Eugene Vigoa, Esq.
Can a buyer assign the contract to someone else?
The short answer is yes, unless the contract does not allow for it.
In the Florida "As Is" contract, page 2, paragraph 7, there are three options that can be checked off concerning assignability.  Obviously, as a seller, you might not want the buyer to assign the contract to someone else you do not know. 
The contract allows for three options.  The first option allows the buyer to assign and be released from liability; the second option allows the buyer to assign and not be released from liability, and in the third option, the buyer may not assign the contract at all.  
The seller obviously needs to read the contract carefully to make sure that they agree with all its terms.  If the contract is assigned, the seller may end up having to deal with a different buyer that they did not bargain for.