American Title has years of vast experience working with wholesalers and real estate investors in New Jersey on real estate assignment deals and other complex closings. We make your investment work for you!
One of our complex title services is an assignment. It is a legal contract in which one party, the original buyer of a property, “Assignor” , transfers their rights and responsibilities to another buyer known as the “Assignee”. This process allows the buyer of the home or commercial property to sell it to someone without having to occupy the property.
The purchase contract must have the proper legal statements granting the ability to assign the property. The Assignee would take over the buyer’s rights and obligations of the Agreement of Purchase and Sale, before the original buyer closes on the property. Then the deal is sealed with another brand new contract known as an Assignment Contract.
For legal reasons and efficiency, certain properties such as HUD homes, REOs, and short sales might have certain deed restrictions that prohibit the assignment of the real estate contract within a specific time period. When the seller is able to sell their property, the investor would obtain a fee, and the new buyer is able to get a great deal. American Title strives to make assignment closings in New Jersey as effortless and secure as possible.
American Title Abstract Corp. provides title insurance and settlement services for New Jersey homeowners and investors. For more information, visit the American Title Abstract website, contact American Title at atac@americantitleabstract.net or call 856-228-1220.
