How AndorAssign Works
A clear, step-by-step breakdown of the wholesale contract auction process — for wholesalers, cash buyers, and anyone curious about assignment contracts.
The Legal Framework
What is a wholesale real estate assignment contract? When a real estate investor (the wholesaler) signs a purchase agreement with a property seller, they acquire equitable interest in that property — specifically, the contractual right to purchase it. That right can be legally transferred to another party (the end buyer) for a fee called an assignment fee.
AndorAssign is a technology marketplace that facilitates the auction of these contractual rights. We are not a licensed real estate brokerage. Wholesalers are not acting as agents or brokers — they are selling their own contractual position.
Is this legal? Yes. Assignment of contract is legal in all 50 states when done with proper contract language, disclosures, and transparency. Some states have additional requirements. We strongly recommend consulting a local real estate attorney before your first transaction.
For Wholesalers: Step by Step
Get a Property Under Contract
Find a motivated seller and negotiate a purchase price below market value. Sign a purchase and sale agreement that includes an assignability clause — this is the language that allows you to sell your contractual position. Without assignability language, you cannot legally assign the contract.
Create Your AndorAssign Account
Sign up as a wholesaler. Verify your identity. Review our listing requirements and assignment contract templates. The onboarding takes under 10 minutes.
Upload Your Deal
Enter property details: address, condition, ARV (after repair value), estimated repair costs, property photos, comparable sales, and your executed purchase agreement. The more information you provide, the more confidently buyers will bid.
Set Your Auction Terms
Choose your starting bid, whether to set a reserve price (the minimum you'll accept), your auction duration (24, 48, or 72 hours), and any buyer qualification requirements you want enforced.
Go Live — Buyers Compete
Your deal is published and matched to verified buyers based on their criteria. Buyers receive instant notifications. Real-time bidding begins. You can watch bids arrive on your dashboard.
Auction Closes — Sign & Collect
When your auction ends, the highest bidder above your reserve wins. Both parties sign the assignment agreement (we provide templates). The buyer deposits the assignment fee into escrow, and funds are released at or before closing.
For Cash Buyers: Step by Step
Create & Verify Your Account
Sign up, set your investment criteria (markets, property types, price range), and submit proof of funds. Verification typically completes within 24 hours.
Get Matched to Deals
The moment a deal matching your criteria goes live, you receive an instant notification via email and in-app alert.
Review Deal Details
Access full deal package: property photos, ARV analysis, repair estimates, comparables, and the purchase agreement. Do your due diligence.
Bid Live
Enter the auction and place your bid. Watch competing bids in real-time. Increase your bid before time runs out. The highest bid wins.
Win — Sign Assignment Agreement
If you win, you sign the assignment agreement with the wholesaler. You take over their contract position and proceed to close with the original seller.
Pay Assignment Fee & Close
Deposit the assignment fee into escrow. It's released to the wholesaler at closing. You close the deal with the seller per the original purchase agreement terms.
Common Questions
Do I need a real estate license?+
What makes a valid assignment contract?+
How are assignment fees determined?+
What happens if the auction doesn't meet my reserve price?+
Ready to Get Started?
Join wholesalers and buyers already using AndorAssign.