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What Is Contract Assignment?

Contract Assignment is the process of assigning ones right to purchase a property to another party. All of the properties that are seen on this platform are currently under contract for purchase. When viewing our inventory you are viewing a list of contracts that you can purchase the rights to purchase from the party that originally offered on the property. There are no properties for sale on this platform, only contractual rights that can be purchased in order for the new buyer to close on the property.

How It Works

Though Contract Assignment may seem daunting at first, the process is actually pretty simple. Here are the basic steps.

1. Someone finds a deal on a property and presents the owner with an offer.

2. If the offer is accepted, the offeror then posts their exclusive rights to purchase on PropAssign for others to view.

3. When an investor sees a contract that they are interested in purchasing, PropAssign connects them with the offeror who holds the rights to purchase.

4. The contractual rights to purchase are then assigned to the investor who pays the original offeror an assignment fee in order to obtain. The investor then is the one who holds the exclusive right to purchase the property and closes on the property.

5. On the day of closing, the Investor pays the owner the price that the original offer to purchase stated. They also pay a fee to the original offeror from whom they obtained the rights to purchase!

6. Repeat!

Disclaimer

PropAssign is not responsible for false or faulty information contained in posts of contracts for sale. PropAssign is in no way responsible for the conduct of its users. Investors should do their own due diligence before engaging in any contract to purchase a property. Both Investors and Sellers are advised to do their own research on the topic of contract assignment before engaging in any related activities. Resharing any information that is posted on PropAssign on other platforms is strictly prohibited.