Strategic broker relationships are important to finding these types of undervalued deals
Many of these already have built in equity
Learn more about how you can purchase with less of a down payment on deals like these
Have opportunities in front of you that you can convert
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An assignment sale is a listing that was originally purchased on pre-construction and now being sold on assignment. When a home owner purchases a pre-construction condo or home, they have the “right to assign” in the original agreement they purchased from the builder to assign to another purchaser before closing of the development. An assignment is a seller (Assignor) exercising the right to sell their contract of the new home before the closing date to you (Assignee).
Many of the deals we currently have on our table are at or below 2020, 2019 or even 2018 pricing. These unit owners purchased units 3,4 or even 5 years ago and are selling it at the same price or lower than what they purchased at.
The benefit is the instant equity you get in the deal just on your buy, not even talking about the historic 7% growth in the marketplace.
Here is an example of a recent deal we purchased where it was a tight closing and the seller had to sell for a lot cheaper than the market value.
◾️ Market Value = $1,200,000
◾️ Original Price (2019) = $1,200,000
◾️ We purchased at: $1,000,000
◾ Deposit Paid (under original agreement): 20% ($240,000)
We got a mortgage on $1,200,000 original price as that was the appraised value and the bank asked for 80% LTV. Because there was $240,000 in the middle that was forfeited we bought with 0 down, just closing costs.
Many of the deals we currently have on our table are at or below 2020, 2019 or even 2018 pricing. These unit owners purchased units 3,4 or even 5 years ago and are selling it at the same price or lower than what they purchased at.
The benefit is the instant equity you get in the deal just on your buy, not even talking about the historic 7% growth in the marketplace.
Here is an example of a recent deal we purchased where it was a tight closing and the seller had to sell for a lot cheaper than the market value.
◾️ Market Value = $1,200,000
◾️ Original Price (2019) = $1,200,000
◾️ We purchased at: $1,000,000
◾ Deposit Paid (under original agreement): 20% ($240,000)
We got a mortgage on $1,200,000 original price as that was the appraised value and the bank asked for 80% LTV. Because there was $240,000 in the middle that was forfeited we bought with 0 down, just closing costs.
Schedule a call with one of our agents at The Zadegan Group to understand assignments in more detail. We will give you a breakdown of a real life example of some of the deals we currently have on our table
Schedule a call with one of our agents at The Zadegan Group to understand assignments in more detail. We will give you a breakdown of a real life example of some of the deals we currently have on our table
They cannot close by way of a mortgage because of interest rates going up they are not qualified anymore. Some have lost their jobs and cannot qualify anymore and some were speculators in the market who had no intention of closing but since the market turned they are now stuck in a position that they have to sell for cheap to get out.
They cannot close by way of a mortgage because of interest rates going up they are not qualified anymore. Some have lost their jobs and cannot qualify anymore and some were speculators in the market who had no intention of closing but since the market turned they are now stuck in a position that they have to sell for cheap to get out.
When a builder notifies Assignors or sellers that they have to close, they are given about 60 days to close. Because of such a tight timeline, they need someone on the table quickly in order to get the property sold so they sell for a lot cheaper in order to attract someone quickly.
When a builder notifies Assignors or sellers that they have to close, they are given about 60 days to close. Because of such a tight timeline, they need someone on the table quickly in order to get the property sold so they sell for a lot cheaper in order to attract someone quickly.
These owners have to sell off-market. The reason they have to sell off-market is because it is written in the original purchase agreement they have with the builder that they cannot put these units that are on assignment on MLS. Reason being is because builders don’t want them to compete against the builders remaining inventory. Because they are off-market, a lot of realtors don’t have the network to touch millions of people like MLS can so they are forced to sell as the deadline to sell approaches.
These owners have to sell off-market. The reason they have to sell off-market is because it is written in the original purchase agreement they have with the builder that they cannot put these units that are on assignment on MLS. Reason being is because builders don’t want them to compete against the builders remaining inventory. Because they are off-market, a lot of realtors don’t have the network to touch millions of people like MLS can so they are forced to sell as the deadline to sell approaches.
They cannot close by way of a mortgage because of interest rates going up they are not qualified anymore. Some have lost their jobs and cannot qualify anymore and some were speculators in the market who had no intention of closing but since the market turned they are now stuck in a position that they have to sell for cheap to get out.
When a builder notifies Assignors or sellers that they have to close, they are given about 60 days to close. Because of such a tight timeline, they need someone on the table quickly in order to get the property sold so they sell for a lot cheaper in order to attract someone quickly.
When a builder notifies Assignors or sellers that they have to close, they are given about 60 days to close. Because of such a tight timeline, they need someone on the table quickly in order to get the property sold so they sell for a lot cheaper in order to attract someone quickly.
I used the group to close on 2 condos on assignment and was very happy with John and his ability to source good units.
Ari was an amazing agent to work with. She is knowledgeable about the local market and was patient, professional and always available for questions during our home search. When it came to the negotiations, I felt confident that Ari was able to secure us the best price possible for our home. It felt so reassuring to have Ari with us every step of the way in such a crazy market
Anyone looking for a Real Estate Agent? Look no further than the Zadegan Group. We worked with Daniel who’s apart of the group and he did an absolute fantastic job. He found us an apartment that met all our needs and made the transition to moving to the city seamless. Couldn’t recommend him enough.