For those of you that do not know, an Assignment Sale is the sale of a property by the owner before the owner officially closes on that property. I have had the pleasure of representing my clients this past month on several Assignment sales.
You should know traditionally in the past, Assignment sales have tended to attract investors over end users as they are usually not quite ready for showings and with the ambiguity around closing dates, end users tend to shy away. They also tend to take longer than average to move as a product class as the funds required to purchase an Assignment are sizeable.
However, this has not been the case over these past few months. I would say well over 90% of the interest I have had in my Assignment sale listings have been from end users looking to secure a property that they otherwise have been unsuccesful at on the resale side. I’m curious to know if you do currently own a Pre-Construction property, have you thought about the possibility of an Assignment sale? And if you, would potentially capitilizing on a hot market interest you? If you would like to learn more about this or your options, reach out and let’s chat; it’s worth having the conversation.