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REAL Estate
Eileen M. Day REALTOR
RIGHT TO ASSIGN PURCHASE
If you are buying a to-be-built condominium, the right to assign your purchase contract is insurance worth fighting for. Assignment means the right to transfer to another party the right to buy the property. This means that someone else can fulfill your contract at the price and terms you agreed to.
If you should be transferred be* fore ocupancy or if some other event makes the purchase no longer feasible. the right to assign your contract will allow you to change your mind even if you have not yet closed. Since prices usually go up as com-i pletion apporaches, assignment could even turn a quick profit fof you.
Normally, you will not find the right to reassign your purchase aggrement in the original contract. Have an attorney write it in for you. The builder may voice some objection, but the point can ususlly be negotiated. The reason proconstruction prices are lower is because of the unknowns. This is one way to hedge your own risk.
If there is anything we can do to help you in the field of real estate please stop in at EILEEN M. DAY, Realtor, The Clopton House, Washington, Va. 22747. Phone 675-3033. We’re here to ticip.
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