Crazy question: Can the purchase contract to buy an existing company be assignable?
In real estate, the purchase contract can have a clause to make it permissible for the buyer to assign the contract to someone else who will assume the purchase under the same terms. (and in many cases the second buyer will pay the first buyer a fee) Can that be done in business acquisitions?
I realize buying a business is not the same as buying a house, but I can imagine situations where it might be necessary and/or beneficial to assign the contract to someone else.
I don't mean to a legal holding company that I control, I mean like 'assign' the contract (aka 'sell the deal') to another buyer, like a PE firm or other buyer.
I am coming across some deals that are very good deals but I might not want to buy them myself. Could I get them under agreement, then find another buyer to make the transaction...and get paid some $ of course.
Has anyone done this? Heard of it? Like the idea?