contract reassignment for new built 30 June 2016 at 8:30AM in House Buying, Renting & Selling 6 replies 5.2K views

nkomp18

Hi All,

I "was" a proud owner of a plot of a new-built luxury apartment in London but after Brexit I am having doubts and am considering moving abroad.

Anyway, leaving my personal decision aside, who knows how to go about selling the contract? I believe it's called "contract reassignment" but do I just contact real estate agents directly?

Anyone who can guide me on where to start, let me know
Thanks

eddddy

nkomp18 wrote: »

...who knows how to go about selling the contract? I believe it's called "contract reassignment" but do I just contact real estate agents directly?

Just go to a regular estate agent... as in these examples:

... are delighted to offer to the market the assigned contract for this off plan luxury one bedroom apartment...

Link: http://www.rightmove.co.uk/property-for-sale/property-51267661.html

- Assigned Contract Purchase

Link: http://www.rightmove.co.uk/property-for-sale/property-40440441.html

This property is an off-plan, assigned contract purchase.

Link: http://www.rightmove.co.uk/property-for-sale/property-33942126.html

Obviously, if an EA isn't familiar with assigned contracts, move on to another.

Most mortgage lenders won't lend on re-assigned contracts, so you might have to find a cash buyer.

nkomp18

Perfect, excellent advice.

Thank you

martinsurrey

nkomp18 wrote: »

Hi All,

I "was" a proud owner of a plot of a new-built luxury apartment in London but after Brexit I am having doubts and am considering moving abroad.

Anyway, leaving my personal decision aside, who knows how to go about selling the contract? I believe it's called "contract reassignment" but do I just contact real estate agents directly?

Anyone who can guide me on where to start, let me know
Thanks

have you just reserved, or have you already exchanged?

nkomp18

Exchanged as well

martinsurrey

nkomp18 wrote: »

Exchanged as well

ouch, could be expensive...

have you spoken to the developer yet?

do you think the plot is worth more or less than when you exchanged?

nkomp18

Should be worth more. I can see smaller plots on Rightmove being advertised for more.

I asked the developer and they forwarded me to JIL, the estate agents but no response from them yet.