What Is a Novation Agreement?

What is a novation agreement and why would I do one? How do I do a novation agreement?

In today’s video, Pace Morby walks through what a novation agreement is in real estate transactions and the various types of ways to do them. He explains concrete examples of real estate deals in which novation agreements are structured, emphasizing that novations only apply to fix and flip scenarios. To help us better understand, Pace also talks about non-real estate examples in terms of when novation agreements make sense.

Pace then dives into the three different ways to do a novation agreement. He describes each way and how it works in certain types of creative finance deals. There are several benefits to doing novation agreements, but there can also be times when it doesn’t make sense to do them. Problems can arise and Pace mentions he dives further into novation agreements with the SubTo community.

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❎ I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a YouTube video for entertainment purposes ONLY ❎

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