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Rainmaker
1,307,492
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Assignment is VERY rare.  Mostly seen when the buyer can't actually afford the house and is trying to sell it during escrow.  The texas house flipper Armando Montelano was big into preaching this method.  I'm big into calling "BS" on those offers.

Dec 19, 2016 10:34 AM
Rainmaker
3,501,283
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Never.

Dec 19, 2016 10:27 AM
Rainmaker
3,066,356
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Nina Hollander nailed this one!

Dec 20, 2016 04:30 AM
Ambassador
1,615,582
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

flip of a coin

Dec 20, 2016 04:17 AM
Ambassador
2,209,980
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

I have done a couple of assignable contracts. 

Dec 19, 2016 06:33 PM
Rainmaker
4,798,831
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I've never had either.

Dec 19, 2016 04:56 PM
Rainmaker
1,157,329
FN LN
Toronto, ON

I have seen very few contract novations compared to contract assignments.

Dec 19, 2016 03:35 PM
Ambassador
4,306,997
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

abby tiscareno never!

Dec 19, 2016 03:07 PM
Ambassador
3,985,357
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I don't deal with either of these.

Dec 19, 2016 02:38 PM
Rainmaker
4,432,941
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

never

Dec 19, 2016 02:15 PM
Rainmaker
1,411,927
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

abby tiscareno They are very far and few in between.

Dec 19, 2016 01:50 PM
Rainmaker
5,394,326
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I've seen builders have land agreements assigned to them.... they used a straw...

Dec 19, 2016 01:21 PM
Ambassador
1,706,708
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Since these are terms not nornally used as a contrast it shoulds to me that this is a real estate test question your instructor is talking about. Common sense will help you a lot.

Dec 19, 2016 01:14 PM
Ambassador
3,169,231
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Never had an assignment of contract, but was trained to do novation if I ever do.

Dec 19, 2016 01:11 PM
Ambassador
4,255,879
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

It's never happened to me

Dec 19, 2016 01:09 PM
Rainmaker
2,887,471
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Never.  

Dec 19, 2016 12:51 PM
Rainmaker
3,643,167
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Most often, for good reason, contracts are not assignable. As far as novations, rarer still!

Dec 19, 2016 11:16 AM
Ambassador
2,469,602
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

    Rare.  Although, I am doing an assignment right now.

Dec 19, 2016 10:54 AM
Rainmaker
3,490,404
Richard Weeks
Dallas, TX
REALTOR®, Broker

Working with investors we do many assignment of contract, very seldom is there a novation.

Dec 19, 2016 10:46 AM
Rainmaker
776,222
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Never had either; distinctions are legal.

Dec 20, 2016 03:47 PM
Rainmaker
1,506,571
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

I do not have experience with either of those. I do not believe we have those in SoCal. 

Dec 19, 2016 11:53 PM
Ambassador
3,722,700
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Never have!

Dec 19, 2016 08:39 PM
Rainmaker
5,892,599
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Blog about your experience.

Dec 19, 2016 11:53 AM