Yes! Assignment purchases can offer a great opportunity to buy a new construction condominium that is ready to be moved into. However, purchasing in this way raises a number of unique issues . Buying by assignment involves two transactions (the assignment from the original purchaser, and the eventual purchase of the unit from the builder) and you need to understand the risks and costs involved in each of these transactions. It is very important that the agreement be reviewed by the lawyers for both the assignor (i.e., the seller) and the assignee (i.e., the buyer) before it is finalized to make sure everything works smoothly. We have extensive experience with assignment transactions and can help you and your real estate agent navigate the process successfully.
- December 6th, 2019
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