Auction assignment
An auction assignment is the transaction by which the winner of a court auction transfers their right to be awarded the property to a third party.
Detailed explanation
In an auction, the best bidder can assign the award to another person before the award is formalised. The assignee takes their place and becomes the final awardee, one step away from the deed. It provides access to an auction asset without having taken part in the bidding, combining discount and speed.
Practical example
An investor wins the auction of a home for €110,000 and assigns the award to a third party, who is awarded the property by paying that amount plus a premium for the assignment.
When it matters
Auction assignment matters when you want auction prices without managing the bidding or the upfront deposit yourself.
At Arkos Investor
At Arkos Investor we provide audited auction assignments so you can enter auction deals just one step from the deed.
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