Wednesday August the 16th, 2017 

 

 

 

    

 

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CONDO ASSIGNMENT SALES

DEFINITION
The assignment (sale of agreement) of the right to purchase a property.  Specifically, it can be the transfer of a contract to purchase, before occupancy. After occupancy, the property can be sold and is classified as a 'resale'.

 

WHY ASSIGN AND NOT SELL?
The City has not given the permission for Occupancy yet. It cannot be a sold using conventional methods.

 

EXAMPLE
A Buyer just bought a new Condo. The Builder has given the Buyer the RIGHT TO ASSIGN the unit (sell the agreement) to another Buyer. This may happen for various reasons:

  • Buyer must sell
  • Buyer wishes to take out equity
  • Property appreciated and Buyer wishes to re-invest appreciation 
  • Market outlook looks bad

 

Condo Assignment Sales

For more information on buying or selling your condo by assignment, do not hesitate to call or simply complete the form below. Also, please take advantage of a Free Home Evaluation.

Please enter the numbers found on the right.

Oliver Baumeister von Bretten, Broker, Senior Vice President - Sales - (416) 460-1213

Sotheby's International Realty Canada, Brokerage* 1867 Yonge St, Toronto, ON, M4S 1Y5 | Tel: (416) 960-9995 | Fax: (416) 960-3222

info@condoinvestments.ca    *Independently Owned and Operated. We do not represent the builder directly.

 

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