What is Assignment

By: Idrees M. Butt

What is Assignment

Tags: Real estate, assignments, buying a condo, condo sale

In real estate, an assignment is a transfer of rights or interests in a property from one party to another. An assignment typically occurs when a buyer of a property wants to transfer their interest in the property to another party before the transaction has been completed.

For example, if a buyer signs a purchase agreement for a property and then decides they do not want to go through with the purchase, they may assign their rights to another buyer. The original buyer would assign their rights to purchase the property to the new buyer, who would then complete the transaction in their place.

You can buy a property at Less price, by buying an assignment sale. You not only get a brand new house/condo but also at less then the market price as the property was original bought for quite some time and those prices are no more available in the market. Therefore, the buyers can get a good price by buying an Assignment.

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