Can a home buyer assign their offer to someone else?

Can a home buyer who is under contract assign their offer to another party?

They can, but it’s complicated.

Paragraph 15 of the standard offer to purchase 2-T states that the contract to purchase a home may not be assigned without the written consent of all parties except in the case of a tax-deferred exchange.

There is no standard form to handle this because it is fairly complicated from a legal perspective.

For example, it’s important to address whether the original buyer is still liable. The person who the offer is being assigned to should make sure the original buyer has the right to make the assignment.

The bottom line is that assignments are complex legal transactions and should be handled by an experienced attorney.