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How To Navigate The Real Estate Assignment Contract

What is assignment of contract?

Assignment of contract vs double close

How to assign a contract

Assignment of contract pros and cons

Even the most left-brained, technical real estate practitioners may find themselves overwhelmed by the legal forms that have become synonymous with the investing industry. The assignment of contract strategy, in particular, has developed a confusing reputation for those unfamiliar with the concept of wholesaling. At the very least, there’s a good chance the “assignment of contract real estate” exit strategy sounds more like a foreign language to new investors than a viable means to an end.

A real estate assignment contract isn’t as complicated as many make it out to be, nor is it something to shy away from because of a lack of understanding. Instead, new investors need to learn how to assign a real estate contract as this particular exit strategy represents one of the best ways to break into the industry.

In this article, we will break down the elements of a real estate assignment contract, or a real estate wholesale contract, and provide strategies for how it can help investors further their careers. [ Thinking about investing in real estate? Register to attend a FREE online real estate class and learn how to get started investing in real estate. ]

What Is A Real Estate Assignment Contract?

A real estate assignment contract is a wholesale strategy used by real estate investors to facilitate the sale of a property between an owner and an end buyer. As its name suggests, contract assignment strategies will witness a subject property owner sign a contract with an investor that gives them the rights to buy the home. That’s an important distinction to make, as the contract only gives the investor the right to buy the home; they don’t actually follow through on a purchase. Once under contract, however, the investor retains the sole right to buy the home. That means they may then sell their rights to buy the house to another buyer. Therefore, when a wholesaler executes a contact assignment, they aren’t selling a house but rather their rights to buy a house. The end buyer will pay the wholesale a small assignment fee and buy the house from the original buyer.

The real estate assignment contract strategy is only as strong as the contracts used in the agreement. The language used in the respective contract is of the utmost importance and should clearly define what the investors and sellers expect out of the deal.

There are a couple of caveats to keep in mind when considering using sales contracts for real estate:

Contract prohibitions: Make sure the contract you have with the property seller does not have prohibitions for future assignments. This can create serious issues down the road. Make sure the contract is drafted by a lawyer that specializes in real estate assignment contract law.

Property-specific prohibitions: HUD homes (property obtained by the Department of Housing and Urban Development), real estate owned or REOs (foreclosed-upon property), and listed properties are not open to assignment contracts. REO properties, for example, have a 90-day period before being allowed to be resold.

What Is An Assignment Fee In Real Estate?

An assignment fee in real estate is the money a wholesaler can expect to receive from an end buyer when they sell them their rights to buy the subject property. In other words, the assignment fee serves as the monetary compensation awarded to the wholesaler for connecting the original seller with the end buyer.

Again, any contract used to disclose a wholesale deal should be completely transparent, and including the assignment fee is no exception. The terms of how an investor will be paid upon assigning a contract should, nonetheless, be spelled out in the contract itself.

The standard assignment fee is $5,000. However, every deal is different. Buyers differ on their needs and criteria for spending their money (e.g., rehabbing vs. buy-and-hold buyers). As with any negotiations , proper information is vital. Take the time to find out how much the property would realistically cost before and after repairs. Then, add your preferred assignment fee on top of it.

Traditionally, investors will receive a deposit when they sign the Assignment of Real Estate Purchase and Sale Agreement . The rest of the assignment fee will be paid out upon the deal closing.

Assignment Contract Vs Double Close

The real estate assignment contract strategy is just one of the two methods investors may use to wholesale a deal. In addition to assigning contracts, investors may also choose to double close. While both strategies are essentially variations of a wholesale deal, several differences must be noted.

A double closing, otherwise known as a back-to-back closing, will have investors actually purchase the home. However, instead of holding onto it, they will immediately sell the asset without rehabbing it. Double closings aren’t as traditional as fast as contract assignment, but they can be in the right situation. Double closings can also take as long as a few weeks. In the end, double closings aren’t all that different from a traditional buy and sell; they transpire over a meeter of weeks instead of months.

Assignment real estate strategies are usually the first option investors will want to consider, as they are slightly easier and less involved. That said, real estate assignment contract methods aren’t necessarily better; they are just different. The wholesale strategy an investor chooses is entirely dependent on their situation. For example, if a buyer cannot line up funding fast enough, they may need to initiate a double closing because they don’t have the capital to pay the acquisition costs and assignment fee. Meanwhile, select institutional lenders incorporate language against lending money in an assignment of contract scenario. Therefore, any subsequent wholesale will need to be an assignment of contract.

Double closings and contract assignments are simply two means of obtaining the same end. Neither is better than the other; they are meant to be used in different scenarios.

Flipping Real Estate Contracts

Those unfamiliar with the real estate contract assignment concept may know it as something else: flipping real estate contracts; if for nothing else, the two are one-in-the-same. Flipping real estate contracts is simply another way to refer to assigning a contract.

Is An Assignment Of Contract Legal?

Yes, an assignment of contract is legal when executed correctly. Wholesalers must follow local laws regulating the language of contracts, as some jurisdictions have more regulations than others. It is also becoming increasingly common to assign contracts to a legal entity or LLC rather than an individual, to prevent objections from the bank. Note that you will need written consent from all parties listed on the contract, and there cannot be any clauses present that violate the law. If you have any questions about the specific language to include in a contract, it’s always a good idea to consult a qualified real estate attorney.

When Will Assignments Not Be Enforced?

In certain cases, an assignment of contract will not be enforced. Most notably, if the contract violates the law or any local regulations it cannot be enforced. This is why it is always encouraged to understand real estate laws and policy as soon as you enter the industry. Further, working with a qualified attorney when crafting contracts can be beneficial.

It may seem obvious, but assignment contracts will not be enforced if the language is used incorrectly. If the language in a contract contradicts itself, or if the contract is not legally binding it cannot be enforced. Essentially if there is any anti-assignment language, this can void the contract. Finally, if the assignment violates what is included under the contract, for example by devaluing the item, the contract will likely not be enforced.

How To Assign A Real Estate Contract

A wholesaling investment strategy that utilizes assignment contracts has many advantages, one of them being a low barrier-to-entry for investors. However, despite its inherent profitability, there are a lot of investors that underestimate the process. While probably the easiest exit strategy in all of real estate investing, there are a number of steps that must be taken to ensure a timely and profitable contract assignment, not the least of which include:

Find the right property

Acquire a real estate contract template

Submit the contract

Assign the contract

Collect the fee

1. Find The Right Property

You need to prune your leads, whether from newspaper ads, online marketing, or direct mail marketing. Remember, you aren’t just looking for any seller: you need a motivated seller who will sell their property at a price that works with your investing strategy.

The difference between a regular seller and a motivated seller is the latter’s sense of urgency. A motivated seller wants their property sold now. Pick a seller who wants to be rid of their property in the quickest time possible. It could be because they’re moving out of state, or they want to buy another house in a different area ASAP. Or, they don’t want to live in that house anymore for personal reasons. The key is to know their motivation for selling and determine if that intent is enough to sell immediately.

With a better idea of who to buy from, wholesalers will have an easier time exercising one of several marketing strategies:

Direct Mail

Real Estate Meetings

Local Marketing

2. Acquire A Real Estate Contract Template

Real estate assignment contract templates are readily available online. Although it’s tempting to go the DIY route, it’s generally advisable to let a lawyer see it first. This way, you will have the comfort of knowing you are doing it right, and that you have counsel in case of any legal problems along the way.

One of the things proper wholesale real estate contracts add is the phrase “and/or assigns” next to your name. This clause will give you the authority to sell the property or assign the property to another buyer.

You do need to disclose this to the seller and explain the clause if needed. Assure them that they will still get the amount you both agreed upon, but it gives you deal flexibility down the road.

3. Submit The Contract

Depending on your state’s laws, you need to submit your real estate assignment contract to a title company, or a closing attorney, for a title search. These are independent parties that look into the history of a property, seeing that there are no liens attached to the title. They then sign off on the validity of the contract.

4. Assign The Contract

Finding your buyer, similar to finding a seller, requires proper segmentation. When searching for buyers, investors should exercise several avenues, including online marketing, listing websites, or networking groups. In the real estate industry, this process is called building a buyer’s list, and it is a crucial step to finding success in assigning contracts.

Once you have found a buyer (hopefully from your ever-growing buyer’s list), ensure your contract includes language that covers earnest money to be paid upfront. This grants you protection against a possible breach of contract. This also assures you that you will profit, whether the transaction closes or not, as earnest money is non-refundable. How much it is depends on you, as long as it is properly justified.

5. Collect The Fee

Your profit from a deal of this kind comes from both your assignment fee, as well as the difference between the agreed-upon value and how much you sell it to the buyer. If you and the seller decide you will buy the property for $75,000 and sell it for $80,000 to the buyer, you profit $5,000. The deal is closed once the buyer pays the full $80,000.

Assignment of Contract Pros

For many investors, the most attractive benefit of an assignment of contract is the ability to profit without ever purchasing a property. This is often what attracts people to start wholesaling, as it allows many to learn the ropes of real estate with relatively low stakes. An assignment fee can either be determined as a percentage of the purchase price or as a set amount determined by the wholesaler. A standard fee is around $5,000 per contract.

The profit potential is not the only positive associated with an assignment of contract. Investors also benefit from not being added to the title chain, which can greatly reduce the costs and timeline associated with a deal. This benefit can even transfer to the seller and end buyer, as they get to avoid paying a real estate agent fee by opting for an assignment of contract. Compared to a double close (another popular wholesaling strategy), investors can avoid two sets of closing costs. All of these pros can positively impact an investor’s bottom line, making this a highly desirable exit strategy.

Assignment of Contract Cons

Although there are numerous perks to an assignment of contract, there are a few downsides to be aware of before searching for your first wholesale deal. Namely, working with buyers and sellers who may not be familiar with wholesaling can be challenging. Investors need to be prepared to familiarize newcomers with the process and be ready to answer any questions. Occasionally, sellers will purposely not accept an assignment of contract situation. Investors should occasionally expect this, as to not get discouraged.

Another obstacle wholesalers may face when working with an assignment of contract is in cases where the end buyer wants to back out. This can happen if the buyer is not comfortable paying the assignment fee, or if they don’t have owner’s rights until the contract is fully assigned. The best way to protect yourself from situations like this is to form a reliable buyer’s list and be upfront with all of the information. It is always recommended to develop a solid contract as well.

Know that not all properties can be wholesaled, for example HUD houses. In these cases, there are often anti-assigned clauses preventing wholesalers from getting involved. Make sure you know how to identify these properties so you don’t waste your time. Keep in mind that while there are cons to this real estate exit strategy, the right preparation can help investors avoid any big challenges.

Assignment of Contract Template

If you decide to pursue a career wholesaling real estate, then you’ll want the tools that will make your life as easy as possible. The good news is that there are plenty of real estate tools and templates at your disposal so that you don’t have to reinvent the wheel! For instance, here is an assignment of contract template that you can use when you strike your first deal.

As with any part of the real estate investing trade, no single aspect will lead to success. However, understanding how a real estate assignment of contract works is vital for this business. When you comprehend the many layers of how contracts are assigned—and how wholesaling works from beginning to end—you’ll be a more informed, educated, and successful investor.

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10 Essential Things to Know About Real Estate Assignment Sales (for Sellers)

— We take our content seriously. This article was written by a real person at BREL.

What’s an assignment?

An assignment is when a Seller sells their interest in a property before they take possession – in other words, they sell the contract they have with the Builder to a new purchaser. When a Seller assigns a property, they aren’t actually selling the property (because they don’t own it yet) – they are selling their promise to purchase it, along with the rights and obligations of their Agreement of Purchase and Sale contract.  The Buyer of an assignment is essentially stepping into the shoes of the original purchaser.

The original purchaser is considered to be the Assignor; the new Buyer is the Assignee. The Assignee is the one who will complete the final sale with the Builder.

Do assignments only happen with pre-construction condos?

It’s possible to assign any type of property, pre-construction or resale, provided there aren’t restrictions against assignment in the original contract. An assignment allows a Buyer of a any kind of home to sell their interest in that property before they take possession of it.

Why would someone want to assign a condo?

Often with pre-construction sales, there’s a long time lag between when the original contract is entered into, when the Buyer can move in (the interim occupancy period) and the final closing. It’s not uncommon for a Buyer’s circumstances to change during that time…new job out of the city, new husband or wife, new set of twins, etc. What worked for a Buyer’s lifestyle 4 years ago doesn’t always work come closing time.

Another common reason why people want to assign a contract is financial. Sometimes, the original purchaser doesn’t have the funds or can’t get the financing to complete the sale, and it’s cheaper to assign the contract to a new purchaser, than it is to renege on the sale.

Lastly, assignment sales are also common with speculative investors who buy pre-construction properties with no intention of closing on them. In these cases, the investors are banking on quick price appreciation and are eager to lock in a profit now, vs. waiting for the original closing date.

What can be negotiated in an assignment sale?

Because the Assignee is taking over the original purchaser’s contract, they can’t renegotiate the price or terms of the contract with the Builder – they are simply taking over the contract as it already exists, and as you negotiated it.

In most cases, the Assignee will mirror the deposit that you made to the Builder…so if you made a 20% deposit, you can expect the new purchaser to do the same.

Most Sellers of assignments are looking to make a profit, and part of an assignment sale negotiation is agreeing on price. Your real estate agent can guide you on price, which will determine your profit (or loss).

Builder Approval and Fees

Remember that huge legal document you signed when you made an offer to buy a pre-construction condo? It’s time to take it out and actually read it.

Your Agreement of Purchase & Sale stipulated your rights to assign the contract. While most builders allow assignments, there is usually an assignment fee that must be paid to the Builder (we’ve seen everything from $750 to $7,000).

There may be additional requirements as well, the most common being that the Builder has to approve the assignment.

Marketing Restrictions

Most pre-construction Agreements of Purchase & Sale from Toronto Builders do not allow the marketing of an assignment…so while the Builder may give you the right to assign your contract, they restrict you from posting it to the MLS or advertising it online. This makes selling an assignment extremely difficult…if people don’t know it’s available for sale, how they can possibly buy it?

While it may be very tempting to flout the no-marketing rule, BE VERY CAREFUL. Buyers guilty of marketing an assignment against the rules can be considered to have breached the Agreement, and the Builder can cancel your contract and keep your deposit.

We don’t recommend advertising an assignment for sale if it’s against the rules in your contract.

So how the heck can I find a Buyer?

There are REALTORS who specialize in assignment sales and have a database of potential Buyers and investors looking for assignments. If you want to be connected with an agent who knows the ins and outs of assignment sales, get in touch…we know some of the best assignment agents in Toronto.

What are the tax implications of real estate assignment?

Always get tax advice from a certified accountant, not from the internet (lol).

But in general, any profit made from an assignment is taxable (and any loss can be written off). The new Buyer or Assignee will be responsible for paying land transfer taxes and any HST that might be due.

How much does it cost to assign a pre-construction condo?

In addition to the Builder assignment fees, you will likely have to pay a real estate commission (unless you find the Buyer yourself) and legal fees. Because assignments are more complicated, you can expect to pay higher legal fees than you would for a resale property.

How does the closing of an assignment work?

With assignment sales, there are essentially 2 closings: the closing between the Assignor and the Assignee, and the closing between the Assignee and the Builder. With the first closing (the assignment closing) the original purchaser receives their deposit + any profit (or their deposit less any loss) from the Assignee. On the second closing (between the Builder and the Assignee), the Assignee pays the remaining amount to the Builder (usually with the help of a mortgage), and pays land transfer taxes. Title of the property transfers from the Builder to the Assignee at this point.

I suppose it could be said that there is a third closing too, when the Buyer takes possession of the property but doesn’t yet own it…this is known as the interim occupancy period. The interim occupancy occurs when the unit is ready to be occupied, but not ready to be registered with the city. Interim occupancy periods in Toronto range from a few months to a few years. During the interim occupancy period, the Buyer occupies the unit and pays the Builder an amount roughly equal to what their mortgage payment + condo fees + taxes would be. The timing of the assignment will dictate who completes the interim occupancy.

Assignments vs. Resale: Which is Better?

We often get calls from people who are debating whether they should assign a condo they bought, or wait for the building to register and then sell it as a typical resale condo.

Pros of Assigning vs. Waiting

• Get your deposit back and lock in your profit sooner
• Avoid paying land transfer taxes
• Avoid paying HST
• Maximize your return if prices are declining and you expect them to continue to decline
• Lifestyle – sometimes it just makes sense to move on

Cons of Assigning vs Waiting

• The pool of Buyers for assignment sales is much smaller than the pool of Buyers for resale properties, which could result in the sale taking a long time, getting a lower price than you would if you waited, or both.
• Marketing restrictions are annoying and reduce the chances of finding a Buyer
• Price – What is market value? If the condo building hasn’t registered and there haven’t been any resales yet, it can be difficult to determine how much the property is now worth. Assignment sales tend to sell for less than resale.
• Assignment sales can be complicated, so you want to make sure that you’re working with an agent who is experienced with assignment sales, and a good lawyer.

Still thinking of assignment your condo or house ? Get in touch and we’ll connect you with someone who specializes in assignment sales and can take you through the process.

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Raj Singh says:

What can be things to look for, especially determining market value for an assigned condo? I’m the assignee.

Sydonia Moton says:

Y would u need a lawyer when u buy a assignment property

Gideon Gyohannes says:

Good clear information!

Who pays the assignment fee to the developer? Assignor or Assignee?

Thanks Gideon 416 4591919

Melanie Piche says:

It’s almost always the Seller (though I suppose could be a point of negotiation).

Fiona Rourke says:

If there are 2 names on the agreement and 1 wants to leave and the other wants to remain… does the removing of 1 purchaser constitute an assignment

Brendan Powell says:

An assignment is one way to add or remove people from a contract, but not the only way…and not the simplest. Speak to your lawyer for advice on what makes the most sense for your specific situation. For a straightforward resale purchase you could probably just do an amendment signed by all parties. If it’s a preconstruction purchase with various deposits paid, etc it could be more complicated.

Katerina says:

Depends on the Developer. Some of them remove names via assignments only.

Haroon says:

Is there any difference in transaction process If assigner or seller of a pre constructio condo is a non resident ? Is seller required to get a clearance certificate from cRA to complete the transaction ?

Nathalie says:

Hello , i would like to know the exact steps for reassignment property please.

Amazing info. Thanks team. I may just touch base with you when my property in Stoney Creek is completed in. 2020. I may need to reassign it to someone Thanks

Victoria Bachlowa says:

If an assignor renegs on the deal and refuses to close because they figured out they could get more money and the assignment was already approved by the builder and all conditions fulfilled what can the Assignee do. I have $33,000 dollars in trust in the real estate’s trust fund. They sent me a mutual release which I have not signed. The interim occupancy is Feb. 1 and the closing is schedule for Mar. 1, 2019. I have financing in place, was ready to move in Feb. 1 and I have no where to live.

Definitely talk to your lawyer right away. They’ll want to look at your agreement of purchase and sale and will be able to advise you.

With assignment sales, there are essentially 2 closings: the closing between the Assignor and the Assignee, and the closing between the Assignee and the Builder. With the first closing (the assignment closing) the original purchaser receives their deposit + any profit (or their deposit less any loss) from the Assignee. Can I assume that these closing happen at the same time? I’m not sure how and when I would be paid as the Assignor.

What happens to the deposits or any profits already paid if the developer cancels the project after an assignment?

Hi, Did you get answer to this? I did an assignment sale last year and now the builder is not completing apparently and they are asking for their money back. Can they do that? After legal transactions, the lawyer simply said “the deal didn’t go through”. Apparently builder and the person who assumed the assignment agreed on taking out the deal. What do I have to pay back after it was done a year ago

This is definitely a question for your lawyer – as realtors we are not involved in that part of the transaction. I would expect that just as the builder would have to refund your deposits, you would likely need to do the same…but talk to your lawyer. As to whether the builder can cancel a project, yes they always reserve that right (but the details of how and under what circumstances would be in your original purchase agreement). It’s one of the annoying risks in buying preconstruction!

I completed the sale of my assignment in Dec 2015 however the CRA says I should be reporting the capital income in 2016 when the assignee closed his deal with the developer in July 2016. That makes no sense to me since I got all my money in Dec 2015. Can you supply any clarification on that CRA policy please?

You’d have to talk to the CRA or an accountant – we’re real estate agents,so we can’t give tax advice.

Hassan says:

Hello, You said that there are two closings. The first one between the assignor and the assignee and the second one between the builder and the new buyer (assignee). My question is that in the first closing does the assignee have to pay the assignor the deposit they have paid and any profit in cash or will the bank add this to the assignee’s mortgage?

The person doing the assigning usually gets their money at the first closing.

Kathy says:

What is the typical real estate free to assign your contract with the builder ?

Hi Kathy While we do few assignments (as they are rarely successful, and builders do not make it easy), in past we have charged more or less the same as we do for a typical resale listing. While there are elements to assignments that should be easier than a resale (eg staging), many other aspects of assignments are much MORE time-consuming, and the risk much higher since attempts to find a buyer for assignments are often unsuccessful. It’s also important to note that due to the extra complication, lawyer’s fees to assign are typically higher than resale as well–although more $ for the purchase side vs the sale side.

Mitul Patel says:

If assignee has paid small amount of deposit plus the original 25% deposit that the assignor has paid to the builder and gets the Keys to the unit since interim possession has been completed, when the condo registration is done and assignee is getting mortgage from the Bank or Pays the remaining balance to the Builder using his savings and decides not to pay the Balance of the Profit amount to Assignor, what are the possibilities in this kind of scenario?

You’d need to talk to a lawyer to find out the options.

David says:

How much exactly do brokers get paid at sale of Assignment? i.e. Would the broker’s fee be a % of your assignment selling price or your home’s selling price? I’m really looking for a clear answer.

I am using this website’s calculator associated with selling your home in Ontario. But there is no information on selling assignments. https://wowa.ca/calculators/commission-calculator-ontario

Realtors set their own commission, so there is no set fee- that website is likely the commission that that agent offers. We often see commissions of 4-5% for assignments. The fee is a % of the price of the assignment – for example, you originally bought for $500K; you’re now assigning for $600K – commission would be payable on the $600K.

Candace says:

Question: if i bought a pre construction condo, can i sell it as soon as it closes or do i have to live in it for 1 year after closing in order to avoid capital gains taxes?

Or does the 1 year start as soon as you move in?

I would suggest you talk to your accountant re: HST credit implications and capital gains, but if you sell it for more than you paid for it, capital gains usually apply.

You mention avoid paying HST when you assign your property. What is the HST based on? It’s not a commercial property that you would pay HST. Explain. Thanks.

HST and assignments are complex and this question is best answered specific to your situation by your accountant and real estate lawyer. In some cases HST is applicable on assignment profits – more details can be found on the CRA website here:

https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/gi-120/assignment-a-purchase-sale-agreement-a-new-house-condominium-unit.html

If you are a podcast listener, the true condos podcast is also a great resource.

https://truecondos.com/cra-cracking-down-on-assignments/

heres one for your comment, purchase pre construction from builder beginning of 2021, to be finished end of 2021, (semi detached) here we are end of 2022, both units are now ready. Had one assigned but because builder didnt accept within certain time frame(they also had a 90 day clause wherein we couldnt assign prior to 90 less firm closing date (WHICH MOVED 4 TIMES). Anyrate now we have a new assinor but the builder says we are in default from the first one and wants 50k to do the assignment (the agreement lists the possibility of assigning for 12k) Also this deal would include us loosing our whole deposit and paying the 12k(plus fees) would be in addition too the 130k we are already loosing. The second property we are trying to close but interest rates are riducous, together with closing costs(currently mortgage company is asking that my wife be added to that one, afraid to even ask this builder. Any advice on how to deal with this asshole greedy builder? We are simply asking for assignment as per contract and a small extension for the new buyer(week or two) Appreciate any advice. Thank you

Dealing with builders/developers can be extremely painful, much worse than resale transactions in our experience. Their contracts are written to protect THEM. Unfortunately all I can say is follow the advice of your lawyer.

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Assignment Definition

Investing Strategy , Jargon, Legal, Terminology, Title

Table of Contents

• What Is an Assignment?
• What is an Assignment in Real Estate?
• What Does it Mean to Assign a Contract in Real Estate?
• How Does a Contract Assignment Work?
• Pros and Cons of Assigning Contracts

REtipster does not provide legal advice. The information in this article can be impacted by many unique variables. Always consult with a qualified legal professional before taking action.

An assignment or assignment of contract is a way to profit from a real estate transaction without becoming the owner of the property.

The assignment method is a standard tool in a real estate wholesaler’s kit and lowers the barrier to entry for a real estate investor because it does not require the wholesaler to use much (or any) of their own money to profit from a deal.

Contract assignment is a common wholesaling strategy where the seller and the wholesaler (acting as a middleman in this case) sign an agreement giving the wholesaler the sole right to buy a property at a specified price, within a certain period of time.

The wholesaler then finds another buyer and assigns the contract to him or her. The wholesaler isn’t selling the property to the end buyer because the wholesaler never takes title to the property during the process. The wholesaler is simply selling the contract, which gives the end buyer the right to buy the property in accordance with the original purchase agreement.

In doing this, the wholesaler can earn an assignment fee for putting the deal together.

Some states require a real estate wholesaler to be a licensed real estate agent, and the assignment strategy can’t be used for HUD homes and REOs.

The process for assigning a contract follows some common steps. In summary, it looks like this:

• Find the right property.
• Get a purchase agreement signed.
• Find an end buyer.
• Assign the contract.
• Close the transaction and collect your assignment fee.

We describe each step in the process below.

1. Find the Right Property

This is where the heavy lifting happens—investors use many different marketing tactics to find leads and identify properties that work with their investing strategy. Typically, for wholesaling to work, a wholesaler needs a motivated seller who wants to unload the property as soon as possible. That sense of urgency works to the wholesaler’s advantage in negotiating a price that will attract buyers and cover their assignment fee.

RELATED: What is “Driving for Dollars” and How Does It Work?

2. Get a Purchase Agreement Signed

Once a motivated seller has agreed to sell their property at a discounted price, they will sign a purchase agreement with the wholesaler. The purchase agreement needs to contain specific, clear language that allows the wholesaler (for example, you) to assign their rights in the agreement to a third party.

Note that most standard purchase agreements do not include this language by default. If you plan to assign this contract, make sure this language is included. You can consult an attorney to cover the correct verbiage in a way that the seller understands it.

RELATED: Wholesaling Made Simple! A Comprehensive Guide to Assigning Contracts

This can’t be stressed enough: It’s extremely important for a wholesaler to communicate with their seller about their intent to assign the contract. Many sellers are not familiar with the assignment process, so if the role of the buyer is going to change along the way, the seller needs to be aware of this on or before they sign the original purchase agreement.

3. Find an End Buyer

This is the other half of a wholesaler’s job—marketing to find buyers. Once they find an end buyer, the wholesaler can assign the contract to the new party and work with the original seller and the end buyer to schedule a closing date.

4. Assign the Contract

Assigning the contract works through a simple assignment agreement. This agreement allows the end buyer to step into the wholesaler’s shoes as the buyer in the original contract.

In other words, this document “replaces” the wholesaler with the new end buyer.

Most assignment contracts include language for a nonrefundable deposit from the end buyer, which protects the wholesaler if the buyer backs out. While you can download assignment contract templates online, most experts recommend having an attorney review your contracts. The assignment wording has to be precise and comply with applicable local laws to protect you from issues down the road.

5. Close the Transaction and Collect the Assignment Fee

Finally, you will receive your assignment fee (or wholesale fee) when the end buyer closes the deal.

The assignment fee is often the difference between the original purchase price (the price that the seller agreed with the wholesaler) and the end buyer’s purchase price (the price the wholesaler agreed with the end buyer), but it can also be a percentage of it or even a flat amount.

According to UpCounsel, most contract assignments are done for about $5,000, although depending on the property and the market, it could be higher or lower.

IMPORTANT: the end buyer will see precisely how much the assignment fee is. This is because they must sign two documents that show the original price and the assignment fee: the closing statement and the assignment agreement, respectively, to close the transaction.

In many cases, if the assignment fee is a reasonable amount relative to the purchase price, most buyers won’t take any issue with the wholesaler taking their fee—after all, the wholesaler made the deal happen, and it’s compensation for their efforts. However, if the assignment fee is too big (such as the wholesaler taking $20,000 from an original purchase price of $10,000, while the end buyer buys it for $50,000), it may ruffle some feathers and lead to uncomfortable questions.

In these instances where the wholesaler has a substantially higher profit margin, a wholesaler can instead do a double closing . In a double closing, the wholesaler closes two separate deals (one with the seller and another with the buyer) on the same day, but the seller and buyer cannot see the numbers and overall profit margin the wholesaler makes between the two transactions. This makes a double closing a much safer way to conclude a transaction.

Assigning contracts is a way to lower the barrier to entry for many new real estate investors; because they don’t need to put up their own money to buy a property or assume any risk in financing a deal.

The wholesaler isn’t part of the title chain, which streamlines the process and avoids the hassle of closing two times. Compared to the double-close strategy, assignment contracts require less paperwork and are usually less costly (because there is only one closing occurring, rather than two separate transactions).

On the downside, the wholesaler has to sell the property as-is, because they don’t own it at any point and they cannot make repairs or renovations to make the property look more attractive to a potential buyer. Financing may be much more difficult for the end buyer because many mortgage lenders won’t work with assigned contracts. Purchase Agreements also have expiration dates, which means the wholesaler has a limited window of time to find an end buyer and get the deal done.

Being successful with assignment contracts usually comes down to excellent marketing, networking, and communication between all parties involved. It’s all about developing strategies to find the right properties and having a solid network of investors you can assign them to quickly.

It’s also critical to be aware of any applicable laws in the jurisdiction where the wholesaler is working and holding any licenses required for these kinds of real estate transactions.

Related terms

Double closing, wholesaling (real estate wholesaling), transactional funding.

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Real estate commission rules change soon. What to know about the average rate and more

Arizona real estate agent commissions are slightly below the U.S. average.

The average rate homeowners pay to sell an Arizona home is about 5.44% of the house’s price, according to Clever Real Estate’s national survey of real estate agents. The U.S. average is 5.49%, and in some state's the average is above 6.5%

But real estate commissions are changing after a $418 million National Association of Realtors settlement over how much homebuyers pay agents. NAR didn’t admit guilt or liability.

Many home sellers think the deal could save them money because they won't have to pay commissions on behalf of buyers, which is pretty typical now.

Some home buyers, particularly first-timers, are concerned they will have to come up with money to hire a real estate agent.

At an average of almost 5.5%, the typical commission on a median-priced Valley house costing $440,000 is about $24,000.

Negotiation, negotiation, negotiation

New rules because of the Realtors' settlement prohibit offers of compensation on multiple listing services. Home sellers had alleged in lawsuits that real estate agents steered buyers to houses with sellers offering higher commissions.

Agreeing on commissions is already a big part of the home sale process, and consumers can continue to negotiate with agents. 

“Remember, real estate agent fees aren't set in stone and can vary depending on where you live, the kind of property you're selling, and how the housing market is performing in your area,” said Steve Nicastro of Clever Real Estate.

Another new rule will require multiple listing service real estate agents working with buyers to have written representation agreements, according to the Arizona Realtors.

When real estate commissions will change

The new rules are set to go into effect this summer.

"If you sell or buy a home this spring or summer, expect your agent to be uncertain about the answers to some of your questions,” said mortgage expert Holden Lewis with Nerd Wallet. “When you do get answers, they might change as more information comes in."

About 89% of buyers last year purchased their homes through a real estate agent or broker, according to the National Association of Realtors.

West Virginia had the highest average real estate commission at 6.67%, according to Clever. Utah had the lowest at 4.9%.

Reach the reporter at   [email protected]  or 602-444-8040. Follow her on X, formerly Twitter:   @catherineReagor .

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Apartment for sale in Moscow

128 sqm apartment near the Kremlin with a view of Theatre Square

• 3 Bathrooms
• Contact for price

Apartment 76 sqm on the 34th floor in NEVA TOWER

Penthouse 284 sqm on Zvenigorodskoe highway

Apartment 108 sqm on Mytnaya street

• 2 Bathrooms

Apartment 193 sqm on the 52nd floor in Moscow City

4 room apartment 203 sqm in the house with a swimming pool

• 4 Bathrooms

3-room apartment 93 sqm near Belorusskaya metro station

2-room apartment 66 sqm on the 11th floor

3-room apartment 72 sqm in the elite Filevsky district

3-room apartment on the 7th floor next to skyscrapers

3-room apartment on the 8th floor near Dinamo metro station

3-room apartment 105 sqm near VDNKh metro station

Penthouse 140 sqm on the 46th floor

• $4,700/one square meter

New residential complex Sky Garden in Moscow

• $15,000/one square meter

New residential skyscraper Capital Tower in Moscow City for investors

Penthouse 200 sqm with a terrace and a fireplace near Red Square

5 room apartment 457 sqm in the center of Moscow

Apartment overlooking the Kremlin and Red Square

Apartment on the 35th floor in the Triumph Palace

3-room apartment 177 sqm in Hyatt Regency

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Apartment 170 sqm on the 36th floor

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3-room apartment in City Park residential complex

Apartment in the Mercury Tower / on the 43rd floor

Looking for apartments for buying in russia.

Choosing the neighborhood of your future residence is a task to be treated with diligence. Poor transport accessibility, a lacking infrastructure and unsatisfactory ecological parameters may noticeably dampen the joy a new property owner is sure to feel from their purchase. To help you avoid such a scenario, we have put together a short overview of the areas in Moscow where you may be considering the purchase of a home , complete with the pros and cons of each of the different locations:

Arbat District – the cultural and business center of Moscow. One of the most prestigious locations in the capital. It boasts a very good infrastructure and high transport accessibility. Unsurprisingly, the property costs here are the highest in Moscow. Despite its small size, the district contains around 10% of all of the capital’s new elite residential buildings, and apartments for sale make up 96% of the properties on the market in this neighborhood. The price of a square meter (3.28 sqft) for an apartment in a new building with penthouses is, on average, 12 000 USD, while the cost of the same in an old building is 9 000 USD. One can even find luxury condos with open terraces for sale in the area.

Kuntsevo District – a beautiful locality surrounded by vast areas of woodland and river beaches on the banks of Moskva River. A strong point of this neighborhood is its good environmental conditions. Brand new and modern residential compounds have been erected here. One square meter (3.28 sqft) of an apartment in a new housing complex in Kuntsevo District currently costs 3 000 USD.

Yakimanka District – one of the most interesting and prestigious areas of Moscow by popular opinion. It is packed full of well-known historic monuments, museums and large parks. The Yakimanka District changed drastically during the Soviet era: most of the centuries-old low-rise houses and mansions were completely demolished or restructured. By the beginning of the 1990’s, new residential and public complexes had already taken their place. Today, one can find condos for sale in Yakimanka’s new residential complexes for the average price of 11 000 USD per square meter (3.28 sqft). The price of a square meter in a Soviet era panel building is 4 000 USD.

Here in Russia’s capital we have our own skyscrapers – grouped together in the compound famously dubbed Moscow-City (the Moscow International Business Center). Many large corporations have their headquarters here. For 1 million US dollars you can purchase a 3-room apartment with a floor area of 607 sqft (185 m²) in one of the towers. This particular listing is located on the 25 th floor.

Where Can I Find Cheap Flats?

If you happen to be a student or if your budget is capped at 300 000 USD and you are looking for cheap condos for sale in Moscow, then the Mitino, Nekrasovka, Cheryomushki, Butovo and Novogireyevo Districts will best suit your needs. These neighborhoods each contain a great number of residential complexes inhabited by Moscow’s middle class. They also have everything one might need for a comfortable life: many schools, kindergartens, big supermarkets, public pools, hospitals, etc. One of Moscow’s Metro stations is also usually just a short walk away. The minimum price of a furnished studio flat in a location within the Moscow Ring Road (a.k.a. MKAD) is currently 100 000 USD.

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Moscow, ME Real Estate and Homes for Sale

27 station rd , moscow, me 04920.

1,112 Sq Ft

160 MAYFIELD RD , MOSCOW, ME 04920

1,980 Sq Ft

87 CANADA RD , MOSCOW, ME 04920

1,945 Sq Ft

597 CANADA RD , MOSCOW, ME 04920

20 moore st , moscow, me 04920, 879 stream rd , moscow, me 04920, 14 mountain stream ln , moscow, me 04920, 8 mountain stream ln , moscow, me 04920, 1027 canada rd , moscow, me 04920.

1,950 Sq Ft

125 CARTER RD LOT 4 , MOSCOW, ME 04920

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On the Market

Homes for Sale in New York and New Jersey

This week’s properties are a four-bedroom in Mount Kisco, N.Y., and a five-bedroom in Glen Ridge, N.J.

By Jill P. Capuzzo and Anne Mancuso

Essex | 100 Sherman Avenue, Glen Ridge, N.J.

Colonial-Style House

$1.599 million.

A five-bedroom, three-and-a-half-bath house built in 1908 but recently updated includes an eat-in kitchen with radiant-heat flooring, formal living and dining rooms, a family room with a gas fireplace and a sliding barn door, a primary bedroom suite with built-ins and an adjacent office space, a partly finished basement, a deep backyard with a pergola-covered patio, and a detached two-car garage on 0.23 acres. Sam Joseph, Sotheby’s International Realty, 917-359-8990, sothebysrealty.com

Taxes: $18,314 a year

The first floor has an open feel, with many windows and large arched passageways. The private backyard includes a deck and other seating areas, a fire pit, a hot tub and a built-in sound system.

The primary bedroom suite is on the third floor. The washer and dryer are in the basement.

• Robert Levy Photography

Westchester | 504 Millwood Road, Mount Kisco, N.Y.

Converted Barn

A four-bedroom, two-and-a-half-bath, 3,182-square-foot house converted in 1910 from an 18th-century barn, with period details that include wide-planked floors, open-beamed ceilings and built-in cabinets; a sitting room with a wood-pellet stove; formal living and dining rooms with fireplaces; a breakfast area; a laundry/mudroom area; an indoor gardening space; a walk-up attic; a slate patio; and a detached one-bedroom, one-bath rental cottage on 1.4 acres. Cindy Glynn, Compass, 914-523-6163; compass.com

$25,019 a year

The house has a cozy, Old World charm, and the lot is sizable. The bedrooms are fairly large and bright. The cottage provides rental income.

Ceilings on the first level are low. There is no central air-conditioning. The kitchen and baths could use updating, and the dilapidated detached two-car garage needs replacement.

Given the fast pace of the current market, some properties may no longer be available at the time of publication.

For weekly email updates on residential real estate news, sign up here .

The State of Real Estate

Whether you’re renting, buying or selling, here’s a look at real estate trends..

Hiring a local to keep an eye on your weekend house  can give you peace of mind and keep small problems from becoming big headaches.

Are you a second-home person? A place outside the city might sound like heaven , but here are some things you should consider first.

The pandemic upset a delicate balance of part-time and full-time residents in a community in the Poconos, sparking a debate over short-term rentals .

After a lifetime of seeking out tiny spaces, she finally found a keeper : a former barbershop in an old mill village in North Carolina.

A lot of change is happening in the housing market. Here’s the outlook .

With a landmark legal settlement  poised to upend a decades-old norm that has dictated who pays real estate agents and how much, economists, agents and lenders are beginning to worry that the burden could now be on first-time home buyers .

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Moscow, ID real estate & homes for sale

• 2,208 sqft 2,208 square feet
• 7,492 sqft lot 7,492 square foot lot

• 1,510 sqft 1,510 square feet
• 7,754 sqft lot 7,754 square foot lot

• 1,408 sqft 1,408 square feet
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• 3,048 sqft 3,048 square feet
• 7,187 sqft lot 7,187 square foot lot

• 3,100 sqft 3,100 square feet
• 0.26 acre lot 0.26 acre lot

• 2,330 sqft 2,330 square feet
• 6,011 sqft lot 6,011 square foot lot

• 1,360 sqft 1,360 square feet
• 8,712 sqft lot 8,712 square foot lot

• 2,613 sqft 2,613 square feet
• 10 acre lot 10 acre lot

• 460 sqft 460 square feet

• 2,052 sqft 2,052 square feet
• 2.4 acre lot 2.4 acre lot

• 3,600 sqft 3,600 square feet
• 0.25 acre lot 0.25 acre lot

• 2,256 sqft 2,256 square feet
• 0.24 acre lot 0.24 acre lot

• 845 sqft 845 square feet

• 1,836 sqft 1,836 square feet

• 2,952 sqft 2,952 square feet

• 1,058 sqft 1,058 square feet
• 7,884 sqft lot 7,884 square foot lot

• 0.37 acre lot 0.37 acre lot

• 6,882 sqft lot 6,882 square foot lot

• 1,141 sqft 1,141 square feet

• 8,688 sqft 8,688 square feet
• 113.5 acre lot 113.5 acre lot

• 1,267 sqft 1,267 square feet
• 6,970 sqft lot 6,970 square foot lot

• 1,500 sqft 1,500 square feet
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• 3,536 sqft 3,536 square feet
• 6.53 acre lot 6.53 acre lot

• 2,090 sqft 2,090 square feet

• 1,528 sqft 1,528 square feet
• 8,276 sqft lot 8,276 square foot lot

• 2,652 sqft 2,652 square feet
• 6.73 acre lot 6.73 acre lot

• 3,456 sqft 3,456 square feet

• 1,957 sqft 1,957 square feet
• 3,964 sqft lot 3,964 square foot lot

• 1,925 sqft 1,925 square feet
• 4,182 sqft lot 4,182 square foot lot

• 1,754 sqft 1,754 square feet
• 0.31 acre lot 0.31 acre lot

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• 1.23 acre lot 1.23 acre lot

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• 23.29 acre lot 23.29 acre lot

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• 4,666 sqft 4,666 square feet
• 0.81 acre lot 0.81 acre lot

• 938 sqft 938 square feet

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Facts about moscow, id, schools in moscow, id.

• A.B. Mc Donald Elementary School
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Property types in Moscow, ID

Home values for neighborhoods near moscow, id.

• Lincoln Heights Homes for Sale $465,000
• Opportunity Homes for Sale $425,000
• Dishman Homes for Sale $354,449
• East Spokane Homes for Sale $399,000
• Moran Prairie Homes for Sale $693,950
• Southgate Homes for Sale $574,500
• Downtown Coeur d'Alene Homes for Sale $998,000
• Greenacres Homes for Sale $455,324
• Clarkston Heights Homes for Sale $407,450
• East Central Homes for Sale $349,000
• Latah - Hangman Homes for Sale $597,450
• Central Post Falls Homes for Sale $459,000
• Veradale Homes for Sale $440,000
• Spokane River District Homes for Sale $950,000
• Comstock Homes for Sale $522,500
• Rockwood Homes for Sale $635,000
• Milltown Homes for Sale $512,499
• Trentwood Homes for Sale $412,500
• Downtown Lewiston - Clarkston Homes for Sale $249,000
• Otis Orchards - East Farms Homes for Sale $540,000

Home values for cities near Moscow, ID

• Pullman Homes for Sale $529,750
• Lewiston Homes for Sale $425,000
• Clarkston Homes for Sale $382,400
• Troy Homes for Sale $525,000
• Colfax Homes for Sale $348,000
• Clarkston Heights-Vineland Homes for Sale $463,500
• West Clarkston-Highland Homes for Sale $399,700

Home values for counties near Moscow, ID

• Latah Homes for Sale $525,000
• Whitman Homes for Sale $450,000
• Spokane Homes for Sale $485,021
• Kootenai Homes for Sale $679,900
• Franklin Homes for Sale $464,000
• Nez Perce Homes for Sale $425,000
• Shoshone Homes for Sale $329,000
• Walla Walla Homes for Sale $499,900
• Benewah Homes for Sale $508,000
• Benton Homes for Sale $499,900
• Clearwater Homes for Sale $359,000
• Idaho Homes for Sale $519,000
• Asotin Homes for Sale $384,900
• Stevens Homes for Sale $499,900
• Sanders Homes for Sale $549,995
• Lincoln Homes for Sale $373,500
• Mineral Homes for Sale $565,000
• Adams Homes for Sale $347,500
• Umatilla Homes for Sale $349,000
• Wallowa Homes for Sale $622,000

Home values for zips near Moscow, ID

• 83843 Homes for Sale $542,450
• 99163 Homes for Sale $534,500
• 99111 Homes for Sale $349,000
• 83871 Homes for Sale $525,000
• 83501 Homes for Sale $425,000
• 99403 Homes for Sale $382,400
• 83851 Homes for Sale $1,350,000
• 99347 Homes for Sale $217,000

How to buy a home in Moscow, ID

Be prepared to buy, moving cost calculator, top real estate markets in idaho.

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These North Jersey towns give you the best bang for your housing buck

We all know that North Jersey is downright expensive. And while the combination of low inventory and high interest rates isn't helping the cause, many may still view the Garden State as one of the best places to live, and are determined to stay.

While North Jersey is among the most expensive places to live in the country, there are some towns here with lower home values than others, but you need to know where to look.

If you're hoping to make the leap into homeownership, these five towns had the lowest home values in North Jersey — all below $400,000 — as of March, according to market data from Zillow:

Vernon is in the farthest northeastern part of Sussex County, bordering Passaic County and New York state. With a typical home value of $291,678 as of March, Vernon had the lowest home values in North Jersey.

Homes currently for sale in Vernon include a three-bedroom, two-bathroom Cape Cod-style home on Andrea Drive for $339,000 ; a four-bedroom, two-bathroom ranch near Pleasant Valley Lake for $379,000 ; and a three-bedroom, two-bathroom lakefront property with private beach access on East Shore Drive for $389,888 .

Spanning roughly 70 square miles, Vernon is a quiet municipality that offers residents a mix of suburban and rural living. The town is an outdoor lover's paradise, widely known for its abundance of nature attractions like the Kittatinny Mountains and Wawayanda State Park. Vernon is also home to Mountain Creek, a ski resort and water park offering skiing, snowboarding, snowtubing, mountain biking and more, as well as Heaven Hill Farm, a 365-acre farm offering fresh produce, a garden center and events throughout the year.

Additionally, Vernon is about 15 minutes from Warwick, New York, which is filled with attractions like the Warwick Drive-In, Pennings Farm, Apple Ridge Orchards and the Mount Peter Ski Area.

Nestled along the borders of New York and Pennsylvania, Montague is in the northwesternmost region of North Jersey. This town had a typical home value of $313,968 as of March, making it the area with the second-lowest home values in North Jersey.

Currently on the market in Montague are a three-bedroom, two-bathroom bi-level home with 2 acres on Deckertown Turnpike for $339,900 ; a three-bedroom, three-bathroom bi-level home at High Point Golf Club for $399,900 ; and a three-bedroom, two-bathroom split-level home with 1 acre on Adams Lane for $469,113 .

Montague is home to attractions like High Point State Park and the High Point Monument, as well as the Tamerlaine Sanctuary & Preserve. Nearby attractions include the Sussex County Sunflower Maze, Space Farms Zoo & Museum and Ventimiglia Vineyard.

Spanning just 4.4 square miles, Franklin is a small suburban community in Sussex County. With the third-lowest home values in North Jersey, Franklin had a typical home value of $333,922 as of March.

Homes currently on the market in Franklin include a three-bedroom, two-bathroom raised ranch on Haines Court for $409,000 ; a four-bedroom, two-bathroom home on Nestor Street for $435,000 ; and a five-bathroom, three-bathroom split-level home on Rapole Street for $449,950 .

Most notably, Franklin is home to the Franklin Mineral Museum, where guests are invited to explore displays of mineral and geological artifacts. The borough is also home to Muckraker Beermaker and the Irish Cottage Inn, as well as both the Black Bear Golf Course and Berkshire Valley Golf Course.

Highland Lakes

A nearly 5-square-mile town centered around Highland Lake within Vernon Township, Highland Lakes is a small, rural community with just over 4,000 residents. With a typical home value of $356,337 as of March, Highland Lakes offers the fourth-lowest home values in our area.

In Highland Lakes, homes currently for sale include a two-bedroom, one bathroom ranch on Waconia Road for $269,000 ; a two-bedroom, one-bathroom ranch on Canadawa Road for $285,000 ; and a two-bedroom, one-bathroom property on Hillside Road near the lake for $289,000 .

Though Highland Lakes is a small community, there are several nearby attractions, including Mountain Creek in Vernon, the Sterling Hill Mining Museum in Ogdensburg and Ballyoween Golf Club.

Spanning just 1.17 square miles, with a population of 3,308 residents, Hamburg is the smallest town on this list, located just above Franklin. The typical home value in Hamburg is $360,626, the fifth-lowest in North Jersey.

Homes for sale in Hamburg include a four-bedroom, two-bathroom home on Orchard Street for $329,900 ; a three-bedroom, three-bathroom home in the Indian Field community at $370,000 ; and a three-bedroom, two-bathroom two-story home on Vernon Avenue for $469,000 .

Hamburg is home to the Hamburg Antique Center, a family-owned business selling antique and collectable items. Nearby, there are attractions like Crystal Springs Resort, the Franklin Mineral Museum and the Sussex County Fairgrounds, which holds a variety of events throughout the year.

Here are the 15 North Jersey towns with the lowest home values as of March:

• 1 - Vernon - $291,678
• 2 - Montague - $313,986
• 3 - Franklin - $333,922
• 4 - Highland Lakes - $356,337
• 5 - Hamburg - $360,626
• 6 - Irvington - $363,946
• 7 - Newark - $367,833
• 8 - Ogdensburg - $373,444
• 9 - Paterson - $385,580
• 10 - Stockholm - $389,935
• 11 - Hopatcong - $392,177
• 12 - Stanhope - $396,002
• 13 - Newton - $402,178
• 14 - Netcong - $404,966
• 15 - Orange - $405,273

Maddie McGay is the real estate reporter for  NorthJersey.com  and The Record, covering all things worth celebrating about living in North Jersey. Find her on  Instagram @maddiemcgay ,  on  X @maddiemcgayy , and sign up for her  North Jersey Living  newsletter.   Do you have a tip, trend or terrific house she should know about? Email her at  MMcGay@gannett . com .