Generally speaking, An assignment is a sales transaction. In this transaction the original buyer of a property allows another buyer to take over the assignment contract. In this post, we would like to explain Everything About Assignment Sales.
Buying these kinds of properties can also lead to possessing the property quicker than purchasing a pre-sale unit. When an assignment is available for sale, construction is often already well underway. Depending on what stage the development is in, the buyer can still be able to personalize the unit by choosing their finishes, appliances, and other upgrades to the unit. The buyer will be responsible for settling the deposit as well as any profit or loss to the seller. Moreover, the buyer will be liable for the full purchase amount at completion, along with the terms and conditions.
From an investor’s perspective, the benefit is that not only can the Assignor receive their original deposit back, they also can negotiate with the Assignee for a higher price. Aside from investors, assigning the contract is an excellent option for individuals who are not eligible to purchase a resale.
On one hand, we are working with many property owners. On the other hand, we are working with many buyers and investors. That is why we are trying our best to have win-win transactions. If you are looking to buy a pre-construction project, our team is here to help you. If you are trying to sell your assignment, please reply!
Real Estate Salesperson