Most operators close their first contract assignment slowly, expensively, or both.
The reason isn’t the contract. It’s the order they run the steps in.
The 6-step assignment that closes in 14 days.
The shortest defensible path from contract signing to assignment funded is 14 calendar days. Faster is sloppy. Slower means you skipped a step or skipped a buyer call.
Step 1 — Day 0: contract signed, earnest money wired to title, copy of contract emailed to title attorney. The clock starts here.
Step 2 — Day 0-2: dispo VA fires per-contract blast to active buyer segment. 6-line email, one numbers row, one link to the contract PDF and condition photos. Target: 10+ buyer replies within 48 hours.
Step 3 — Day 2-4: buyer walkthroughs scheduled. Acquisitions VA or the operator coordinates access with the seller. Target: 3-5 buyer walkthroughs in the window.
Step 4 — Day 4-7: best buyer named, assignment fee negotiated, assignment contract signed. Earnest money from the buyer hits title in writing.
Step 5 — Day 7-10: title coordination. Title commitment pulled, any liens or judgments cleared, HOA letter requested if applicable, survey ordered if required by buyer.
Step 6 — Day 10-14: closing scheduled, both parties sign, wire instructions confirmed, assignment fee funded.
That’s the playbook. Skip step 5’s title commitment review and you’ll close late. Skip step 2’s 48-hour blast and the contract sits.
Do this tomorrow: map your last 3 contracts against the 6 steps. Where did each one slow down?
The 4 documents that protect the assignment.
A clean assignment needs 4 documents on file before close. Missing any one is how operators get sued.
- Original purchase contract — signed by seller, all addendums attached, earnest money receipt from title.
- Assignment of contract — buyer’s name, assignment fee, signed by both wholesaler and assignee.
- Title commitment — clean, no surprise liens, HOA in good standing if applicable.
- Funds receipt — buyer’s earnest money confirmed at title in writing.
The mistake operators make is assuming the title company will catch every issue. They won’t. You’ll find an unrecorded mechanic’s lien on day 12 and miss your close window. Read the title commitment yourself on day 7. Don’t outsource that read.
Do this tomorrow: for any active contract, request the title commitment by day 5. Read it before day 7.
The mistake that turns assignments into lawsuits.
Operators forget to disclose the assignment to the seller. In some states (TX, FL, CO, others), the seller has a right to know the contract is assignable. In all states, it’s the cleaner business practice.
The disclosure is one line on the seller call: “Just to confirm — you understand this contract is assignable, meaning we may bring in a partner to close. Same terms, same date.” Document the seller’s verbal confirmation. Two weeks later, when the buyer’s company name shows up on the closing docs and the seller asks “who’s this?”, you have the receipt.
The second mistake: assignment fees that scare the seller. If your fee is 20% of the deal and the seller sees it on the HUD, expect a phone call. States vary on disclosure rules — Texas, for example, has had legislative attention on this. Default to disclosing the assignment relationship on the seller call, not the fee amount.
Do this tomorrow: add the assignment disclosure line to your seller-call script. Train the acquisitions VA to say it on every contract.
The 5-step plan to close your next assignment in 14 days.
- Day 0: contract signed, earnest money to title same day, copy emailed to title attorney.
- Day 0-2: dispo per-contract blast. 48-hour window for buyer replies.
- Day 2-4: schedule 3-5 walkthroughs. Buyer who shows up first usually closes.
- Day 7: read the title commitment yourself. Don’t wait for problems to surface.
- Day 14: close. Wire instructions confirmed in writing, both parties on the call if needed.
14 days isn’t aggressive. It’s just disciplined. Most operators run 21-28 day assignments because they skipped one of the 5 steps above.
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