Transfers of apartment purchase contracts are no longer uncommon occurrences and can occur when the seller is unable to continue to maintain financial obligations with the bank. Such transfers may also occur when the buyer desires practical ownership of a house or houses instead of simply ownership on paperwork.

The majority of those who transfer an apartment purchase contract for the first time, will find the process challenging and cumbersome for all parties involved.  Many instances include a lack of understanding of the procedures, in which each party will encounter many disadvantages and incur risks.

Therefore, it is important to have a have a grasp of the sequence, procedures, time limits, and notes when transferring an apartment purchase contract. Understanding this issue, CNC’s lawyers provide readers with 7 detailed steps to transfer apartment purchase contracts to help all parties throughout the process.