The simple definition
A real estate assignment is when the buyer of a property transfers their rights under a purchase contract to a third party before the transaction closes.
In plain terms: the company or person who made you an offer sells their right to buy your property to another buyer. Often an investor or capital partner, who then closes on your property instead.
This is legal in all 50 states. It is common. And when done properly and transparently, it changes almost nothing about your experience as the seller.
What changes in an assignment
The entity that closes on your property changes. Instead of the original buyer signing the final deed transfer, a new party does. That is typically the only change.
What does not change
- Your agreed purchase price.
- Your close date.
- Your title company.
- Your right to ask questions.
- Your right to walk away if something feels wrong before closing.
How Casmiran handles assignments
At Casmiran, if we assign your contract to a capital or financing partner, we notify you before the closing date. You will know who is purchasing your property. You will have the opportunity to ask questions. Nothing closes without your knowledge. The full picture is in how we purchase properties, and our formal terms are on the disclosures page.
Have questions about how we work before you commit to anything? Call us first at (719) 426-2805.
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