Condo Assignments for Sale
What is Condo Assignment ?
In todays booming condo market you are listening this condo Assignment word quite often. From builders and realtors who are selling these pre construction condos. Assignment sale means to assign your agreement of purchase and sale to a person(Buyer) before the final closing(or before the building is registered with city)
How does assignment work ?
In todays market most of the condo builders (almost all of them) offer assignment clause as an incentive to buyers so that investor buyers can sell their condos quickly before closing and save closing cost as well and invest again in other projects. End user buyers dont see any benefit in assignment as an incentive, But it works perfect for investors.
What is the difference in between Resale & Assignment sale ?
Resale is a regular or convetional procedure of selling any property ,which happens when a seller is registered owner of the property. But assignment sale happens when a seller is not registered owner of a property but he has signed up an agreement with developer to buy that condo unit which will be registered on seller's name at the time of final closing unless he decide to sell it or assign the agreement to a new buyer as an assignment sale. Assignment was not that popular couple of years ago. It is quite complecated process and not very many people /Realtors have enough knowledge about this process. Since there have not been many assignment condos sold so, a very few realtors have first hand experience of an assignment sale. Assignment sale requires different forms of offer and attached schedules than a resale offer. So its best to take advise(for selling a condo in Assignment sale) of someone who has done this before rather than going to a rookie in Assignment sales field.
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If you wish to list you Condo unit as assignment sale here on this page please feel free to submit your Condo details below in the given form.