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Assignment of Contract
Assignment of Contract
to __________________________________________________________(Assignee).
1. CLOSING: This transaction shall be closed, the balance of the monies due shall be paid, and all documents signed by the
parties hereto on or before ________________ after escrow has been opened. The earnest money deposit is to be held by the
escrow company pending closing. It is expressly agreed that upon the event of any default or failure on the part of the Buyer
to comply with the terms and conditions of this contract that said deposit is to be paid to Seller as liquidated damages. If
escrow is delayed, the assignee agrees to extend the contract for up to 10 business days. Assignee understands that earnest
money deposit is non-refundable under any circumstances unless the assignor is not able to deliver clear transferable title.
2. The undersigned agrees that they have the full authority to execute this document personally and for any organization they
represent or will represent. By signing, you agree that you have read, understand and have the full power and authority to
enter into this legal agreement. If you do not understand this document, please seek legal counsel prior to signing. The
undersigned acknowledges receipt of a copy of this document.
4. EARNEST MONEY: $__________________________ NON-REFUNDABLE earnest money in the form of a Bank WIRE
or Cashier’s Checks shall be deposited at _____________________________________________________________ by
5pm on ______________________________. Earnest money will only be refunded if a clear title cannot be delivered.
5. Earnest money shall be applied towards the overall purchase price of $ __________________________
____________________________________________________________________________
ASSIGNOR PRINTED NAME ASSIGNOR SIGNATURE DATE
____________________________________________________________________________
ASSIGNEE PRINTED NAME ASSIGNEE SIGNATURE DATE