Is AIF necessary in NJ? · Rainmaker Wholesale RE

Is AIF necessary in NJ?

Hey All! I’m an active wholesaler in NJ and looking to implement novations as another exit strategy on my deals when it’s more appropriate as a solution for the seller. Is AIF necessary in order to facilitate or is the novation language and pre marketing clause in my PSA sufficient in order to list these deals on the MLS with a realtor? I know some companies here just use the language in the underlying PSA + novation and indemnification agreement to transact these novation deals. I don’t want to ask for AIF and potentially create more friction in the sales process if it’s not necessary. Appreciate any advice and help from operators actively doing Novations in NJ specifically, thanks in advance!

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