Real Estate Definition: Assignment Sale
Friday Mar 29th, 2024
ShareWhen a buyer enters into a purchase agreement for a pre-constructed or newly built property, they may find themselves in a situation where they no longer wish to proceed with the purchase. In such cases, the buyer can assign their rights and obligations under the agreement to a new buyer – and this is where an assignment sale comes in. What is an Assignment Sale? An assignment sale refers to a sales transaction in which the original buyer of a property (“assignor”)... [read more]