When do we let the agent know we are assigning the contract & how are we supposed to bring it up to them? Is it before or after getting a property under contract?

Don’t let the agent know you are assigning the contract before you get the property under contract. This would be shooting yourself in the foot. The goal is to get the property under contract first and then let the agent know you will be closing the property in your financing partners name.

You bring it up the agent by telling them this:

“Sometimes we purchase properties in my name and sometimes in my financial partner’s name. Since my partner is going to be bringing a majority of the capital, we need to just go ahead and change the contract to his name.”

Now, the agent will change the contract name as needed. You will have to provide the company name of the financing partner to the listing agent.

When you make changing the contract name to your financing partner a big deal, then it becomes a big deal. When you make changing the contract name to your financing partner a standard operating procedure because they are bringing a majority of the capital, well then, it is smooth process because it only makes sense for your financing partner to have the property in their name if they are bringing a majority of the capital.