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Rainmaker
1,712,676
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
Rainmaker
1,502,848
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
5,104,806
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Never.

Dec 19, 2016 10:27 AM
Rainmaker
3,071,489
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
Rainmaker
1,617,916
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

flip of a coin

Dec 20, 2016 04:17 AM
Rainmaker
2,224,473
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
4,800,082
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
1,157,785
FN LN
Toronto, ON

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

Dec 19, 2016 03:35 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

abby tiscareno never!

Dec 19, 2016 03:07 PM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I don't deal with either of these.

Dec 19, 2016 02:38 PM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

never

Dec 19, 2016 02:15 PM
Rainmaker
1,466,207
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
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily 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
3,383,334
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, 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
5,048,708
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
Ambassador
3,344,906
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Never.  

Dec 19, 2016 12:51 PM
Rainmaker
5,215,388
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
2,684,009
Fred Griffin Florida 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
4,881,462
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
900,008
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
1,622,432
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • 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
5,228,997
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Never have!

Dec 19, 2016 08:39 PM
Rainmaker
7,834,945
Roy Kelley
Retired - Gaithersburg, MD

Blog about your experience.

Dec 19, 2016 11:53 AM