Video Blog 57
An assignment sale is when a Seller sells their interest in a property before they take possession – They sell the contract they have with a Builder to a new purchaser.
If you are purchasing an assignment sale, there are 3 important issues you need be aware of: 1) Financing, 2) Closing Costs, and 3) Taxes.
Buying or selling an assignment is not just a matter of putting a signature on a piece of paper. As always, please have your lawyer review all documents with you, and in this case consult with your accountant too. Do your homework so you don’t get in a pickle later on.
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