Quote:
Originally Posted by photon
For a while developers weren't allowing assignments and even requiring an affidavit that you would move into the property, but many I've spoken with have gone back to allow assignments.
I've never done one though, so I'm not sure if you could sell the place through assignment and get your money right away, or if you'd still need to wait until you get title.
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The assignee pays you for your deposits and a "lift" negotiated between the 2 of you. so basically you do get your money right away if that's how you negotiate it between yourself and the assignee and then they assume the rest of the balance still owing.
The beauty of an assignment if done right, is that you never even need to get a mortgage. You just need the 10% or so for deposits and then you enjoy the lift if the value goes up.