How Assignments' of Contracts Work
May 3rd, 2007
Here's a little primer on Assignments:
Assignments involve a few basic figures:
New Price (Assignee's Total Purchase Price)
Assignment Amount (Difference between Original contract price and New Price)
Deposit Held by Developer
Original contract price
Assignment deposit: typically 5% of the New Price
NB: Original Contract Price + Assignment Price = New Price OR
New Price - Assignment Price ...