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contract assignment

Started by movinup1
over 17 years ago
Posts: 241
Member since: Mar 2009
Discussion about
what would be the seller's motivation to sell their contract as opposed to walking away from their deposit?
Response by Riversider
over 17 years ago
Posts: 13573
Member since: Apr 2009

transaction costs.

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Response by movinup1
over 17 years ago
Posts: 241
Member since: Mar 2009

can you elaborate? If someone bought in 2007 pre-construction, put down a 10% deposit, the apt became available end of 2008 and the purchaser can not go thru w/the contract, why wouldn't they just walk away from the deposit instead of trying to sell in today's market. they probably won't get what they paid for it, so either way they will be losing money whether it be the deposit or the new selling price

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