{"id":2136,"date":"2020-04-27T14:01:51","date_gmt":"2020-04-27T14:01:51","guid":{"rendered":"http:\/\/blog.condonow.com\/assignments\/?p=2136"},"modified":"2020-05-05T19:44:38","modified_gmt":"2020-05-05T19:44:38","slug":"who-is-the-assignor","status":"publish","type":"post","link":"https:\/\/condonow.com\/Assignments\/who-is-the-assignor\/","title":{"rendered":"The Assignor is the Original Condo Buyer"},"content":{"rendered":"

When it comes to pre-construction assignment sales just remember that the original first buyer of the unit is called the assignor.<\/span>\u00a0<\/span><\/p>\n

Within the real estate market and any\u00a0<\/span>business-driven<\/span>\u00a0market, the signing of contracts for business transactions are the norm.\u00a0<\/span>Sometimes those obligations and benefits along with the contract will<\/span>\u00a0legally<\/span>\u00a0be transferred to<\/span>\u00a0someone<\/span>\u00a0else. The original owning party of the contract is called the assignor.<\/span>\u00a0<\/span><\/p>\n

Sarah is a real estate investor and is very knowledgeable about the current st<\/span>ate of the real estate market.<\/span>\u00a0<\/span><\/p>\n

She\u00a0<\/span>signs<\/span>\u00a0a pre-construction contract for<\/span>\u00a0a<\/span>\u00a0<\/span>one<\/span>\u00a0bedroom plus den u<\/span>nit in a 14 storey residential condo\u00a0<\/span>development<\/span>\u00a0that is scheduled to be ready for occupancy in\u00a0<\/span>three<\/span>\u00a0years.<\/span>\u00a0<\/span><\/p>\n

She is not\u00a0<\/span>purchasing<\/span>\u00a0this unit for her own\u00a0<\/span>residence;<\/span>\u00a0she is str<\/span>ictly\u00a0<\/span>purchasing it has an investment property and knows that she will\u00a0<\/span>be completing an assignment sale before final closing occurs.<\/span>\u00a0<\/span><\/p>\n

By signing the\u00a0<\/span>pre-construction\u00a0<\/span>Agreement of Purchase and Sale she has entered a legally binding contract with the developer of the\u00a0<\/span>condo<\/span>.<\/span>\u00a0Since Sarah is the original holder of the contract and<\/span>\u00a0looking to transfer it to a\u00a0<\/span>new party, she is\u00a0<\/span>referred to as the assignor.\u00a0<\/span>\u00a0<\/span><\/p>\n

Two and a half years have gone by and the condo building is well under construction and almost ready for occupancy. Sara<\/span>h is now ready to sell the\u00a0<\/span>one<\/span>\u00a0bedroom plus den unit she bought<\/span>\u00a0to Megan, the person who wants to buy the unit<\/span>.<\/span>\u00a0<\/span><\/p>\n

The transfer and sale of the<\/span>\u00a0physical condo<\/span>\u00a0unit<\/span>\u2019s contract<\/span>\u00a0and any incentives that were purchased alongside it<\/span>\u00a0is\u00a0<\/span>called an assignment sale and Sarah, the person who is selling the unit is considered to be the a<\/span>ssignor in this process.<\/span>\u00a0<\/span><\/p>\n

If you are currently considering selling a contract for a pre-construction home or condo unit<\/span>, consider listing an assignment sale with one of CondoNow\u2019s Certified Experts. Don\u2019t hesitate to contact us, we are here to help.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n<\/div>

<\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":5,"featured_media":2149,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"\nThe Assignor is the Original Condo Buyer - Assignments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cnrelease.247salescenter.com\/Assignments\/who-is-the-assignor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Assignor is the Original Condo Buyer - Assignments\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cnrelease.247salescenter.com\/Assignments\/who-is-the-assignor\/\" \/>\n<meta property=\"og:site_name\" content=\"Assignments\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-27T14:01:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-05T19:44:38+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/blog.condonow.com\/assignments\/wp-content\/uploads\/sites\/3\/2020\/04\/who-is-the-assignor-.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"660\" \/>\n\t<meta property=\"og:image:height\" content=\"330\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"3 minutes\">\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/condonow.com\/Assignments\/#website\",\"url\":\"https:\/\/condonow.com\/Assignments\/\",\"name\":\"Assignments\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/condonow.com\/Assignments\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-CA\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cnrelease.247salescenter.com\/Assignments\/who-is-the-assignor\/#primaryimage\",\"inLanguage\":\"en-CA\",\"url\":\"https:\/\/blog.condonow.com\/assignments\/wp-content\/uploads\/sites\/3\/2020\/04\/who-is-the-assignor-.jpg\",\"contentUrl\":\"https:\/\/blog.condonow.com\/assignments\/wp-content\/uploads\/sites\/3\/2020\/04\/who-is-the-assignor-.jpg\",\"width\":660,\"height\":330},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cnrelease.247salescenter.com\/Assignments\/who-is-the-assignor\/#webpage\",\"url\":\"https:\/\/cnrelease.247salescenter.com\/Assignments\/who-is-the-assignor\/\",\"name\":\"The Assignor is the Original Condo Buyer - Assignments\",\"isPartOf\":{\"@id\":\"https:\/\/condonow.com\/Assignments\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cnrelease.247salescenter.com\/Assignments\/who-is-the-assignor\/#primaryimage\"},\"datePublished\":\"2020-04-27T14:01:51+00:00\",\"dateModified\":\"2020-05-05T19:44:38+00:00\",\"author\":{\"@id\":\"https:\/\/condonow.com\/Assignments\/#\/schema\/person\/1555922b4428f6980412c8e12d16b5b4\"},\"breadcrumb\":{\"@id\":\"https:\/\/cnrelease.247salescenter.com\/Assignments\/who-is-the-assignor\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cnrelease.247salescenter.com\/Assignments\/who-is-the-assignor\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cnrelease.247salescenter.com\/Assignments\/who-is-the-assignor\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"item\":{\"@type\":\"WebPage\",\"@id\":\"https:\/\/condonow.com\/Assignments\/\",\"url\":\"https:\/\/condonow.com\/Assignments\/\",\"name\":\"Home\"}},{\"@type\":\"ListItem\",\"position\":2,\"item\":{\"@id\":\"https:\/\/cnrelease.247salescenter.com\/Assignments\/who-is-the-assignor\/#webpage\"}}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/condonow.com\/Assignments\/#\/schema\/person\/1555922b4428f6980412c8e12d16b5b4\",\"name\":\"amandag\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/condonow.com\/Assignments\/#personlogo\",\"inLanguage\":\"en-CA\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/391077919a3407e3ddf9ae1bba92604a9385acb38c389dcf10f3474286d0b24f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/391077919a3407e3ddf9ae1bba92604a9385acb38c389dcf10f3474286d0b24f?s=96&d=mm&r=g\",\"caption\":\"amandag\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/blog.condonow.com\/Assignments\/wp-json\/wp\/v2\/posts\/2136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.condonow.com\/Assignments\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.condonow.com\/Assignments\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.condonow.com\/Assignments\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.condonow.com\/Assignments\/wp-json\/wp\/v2\/comments?post=2136"}],"version-history":[{"count":0,"href":"https:\/\/blog.condonow.com\/Assignments\/wp-json\/wp\/v2\/posts\/2136\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.condonow.com\/Assignments\/wp-json\/wp\/v2\/media\/2149"}],"wp:attachment":[{"href":"https:\/\/blog.condonow.com\/Assignments\/wp-json\/wp\/v2\/media?parent=2136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.condonow.com\/Assignments\/wp-json\/wp\/v2\/categories?post=2136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.condonow.com\/Assignments\/wp-json\/wp\/v2\/tags?post=2136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}