A novation contract in real estate is a legal agreement that replaces an existing contract with a new one, transferring the rights and obligations from one party to another. In simple terms, it’s like swapping out one person for another in a deal while keeping the terms mostly the same. For real estate investors, especially those involved in wholesaling, novation is a powerful tool that allows a wholesale contract to be converted so a retail buyer can purchase a home that was initially under contract with a wholesaler.

Category : Wholesaler Articles

Real estate investing offers multiple paths to building wealth, but two of the most popular strategies are fix-and-flip and buy-and-hold rental properties. Before diving in, it’s crucial to understand an essential tool in real estate investing—assignable contracts—and how they are used in the wholesaling process. This knowledge can help you find and secure deals without using large amounts of your own capital.

Category : Investor Articles