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In Brexit-battered London, flipping condos in contract has become risky business

Sagging home prices in London have injected greater risk into contract reassignment — a practice in which buyers try to make a profit by selling their units before their initial purchase transaction closes. Speculators have made fat profits fast by agreeing in writing to buy luxury real estate in London, then selling the contracts at higher purchase prices. But declining prices for homes across Brexit-battered London have made contract reassignment riskier. Illustrating the point is […]

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