Ema is an expert on assignment deals.
In this podcast she shares the basics on assignments.
With an assignment, the Seller is actually selling their interest in a property (or shall we say, contract with the builder). They aren’t selling the actual condo (as they don’t own it yet); they are selling their promise to purchase a property.
When you purchase an assignment, you are essentially stepping into the shoes of the original purchaser. You can’t renegotiate the price or terms of the contract, you are simply taking over the contract as it already exists.
Listen and share to find out more.
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