When you’re selling your home, small words in a contract can carry big consequences. One of the most misunderstood and potentially risky phrases is “and/or assigns.” You may see it listed next to a buyer’s name, but if you’re not sure what it means, you could end up in a tough spot.
What Does “And/Or Assigns” Mean?
In simple terms, “and/or assigns” means the buyer can transfer the contract to someone else. So the person signing your contract might not be the person who actually buys your home. Instead, they may be planning to wholesale the deal by locking it up and then reselling it to another investor for a profit.
This isn’t always a scam, but it can create serious problems if you’re not careful.
Why It Can Be a Red Flag
At Best Offer KC, we’ve seen what happens when sellers get caught off guard by this clause. One homeowner we worked with, Rachel from Raytown, packed her belongings and rented a U-Haul, thinking she was closing the next day. But the buyer, who had “and/or assigns” in the contract, backed out at the last minute. Rachel was left stranded, heartbroken, and without a sale.
Unfortunately, this happens more often than people think. That’s why it’s so important to know who you’re dealing with and what your contract actually says.
The Risk Behind “And/Or Assigns”
When someone includes “and/or assigns,” it often means:
- They don’t plan to buy your house themselves
- They may be shopping your contract around to someone else
- There’s no guarantee the end buyer will follow through
If the new buyer can’t close or decides not to, you’re the one left scrambling. Especially in emotional or time-sensitive situations like divorce, inheritance, or foreclosure, that kind of uncertainty is the last thing you need.
How to Protect Yourself
If you want a clean, certain sale, look closely at who is signing your contract and whether “and/or assigns” is included. Don’t be afraid to ask direct questions:
- “Are you the actual buyer, or do you plan to assign this to someone else?”
- “What happens if your assigned buyer backs out?”
Work only with buyers who are clear, honest, and upfront. A professional homebuyer with experience in your situation will never leave you guessing about who’s buying your home or when you’re closing.
Trustworthy Buyers Don’t Need “And/Or Assigns”
At Best Offer KC, we never put “and/or assigns” in our contracts. When we say we’re going to buy your home, we mean it. You’ll know exactly who you’re dealing with, what to expect, and when you’ll close. No last-minute surprises.
If you’re thinking about selling and want a simple, honest process, reach out to our team. We’ll walk you through your options and help you avoid red flags so you can sell with confidence and peace of mind.
