An assignment sale is the transfer of a seller's rights and obligations in a contract, typically in real estate, to a third party. In the context of real estate, it involves the original buyer (assignor) selling their right to purchase a property to another buyer (assignee) before the closing of the sale. This allows the assignee to step into the original buyer's shoes and assume the terms of the contract, including payment and possession, without needing to go through the entire purchasing process.
assignment sale
An assignment sale is the transfer of a seller's rights and obligations in a contract, typically in real estate, to a third party. In the context of real estate, it involves the original buyer (assignor) selling their right to purchase a property to another buyer (assignee) before the closing of the sale. This allows the assignee to step into the original buyer's shoes and assume the terms of the contract, including payment and possession, without needing to go through the entire purchasing process.