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Is assignment the same as selling?

When a Seller assigns a property, they arent actually selling the property (because they dont own it yet) they are selling their promise to purchase it, along with the rights and obligations of their Agreement of Purchase and Sale contract.

What is an assignment legally?

Assignment is a legal term whereby an individual, the assignor, transfers rights, property, or other benefits to another known as the assignee. This concept is used in both contract and property law.

Are contract assignments legal?

Assignment of contracts is the legal transfer of the obligations and benefits of a contract from one party, called the assignor, to another, called the assignee. The assignor must properly notify the assignee so that he or she can take over the contractual rights and obligations.

What is the average assignment fee in real estate?

While the assignment fee will depend on several variables, including the price of the property sold, its common to see assignment fees between $10,000-$20,000. Were happy to report students whove earned assignment fees between $100k and $500k!

What does property assignment mean?

A: An assignment is a sales transaction where the original buyer of a property (the assignor) allows another buyer (the assignee) to take over the buyers 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

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