Why You Should Never Sell a Condo on Assignment
Thinking of selling an assignment? Will you get more for your money if you hold on to the property?
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In this episode we cover the assignment clause, the disadvantages of selling an assignment prior to closing, and the costs and profits associated with selling an assignment, closing a deal using an alternative lender, or holding and refinancing for one year.
An *assignment is a sales transaction where the original buyer of a property (the “assignor”) allows another buyer (the “assignee”) to take over the buyer’s rights and obligations of the Agreement of Purchase and Sale, before the original buyer closes on the property (that is, where they take possession of the property).