Assignment Sales are a great way to make money or find a good deal in the Toronto.
With the number of construction projects underway, the high number of buildings nearing completion, both pre-construction sellers (assignors) or buyers (assignee) can enter into win-win agreements where the Assignor is making a return on their investment and buyers can secure a brand new condo at a price BELOW where existing and comparable units are selling.
Condo assignment can be incredibly profitable as buyers can sell their units at a higher price than they initially paid without ever owning the property. Furthermore, this process offers one to buy into high-demand areas and gain incredible value once the construction is complete.
Whether a first-time buyer or an experienced investor, this platform is your ultimate resource for finding your dream condo or selling your current one at maximum value.
We provide condo assignment sale in Toronto where you get everything to achieve success, from understanding Condo assignment sales and how they work to staying up-to-date on the modern trends and developments shaping the industry and more.
The demand for these assignments has grown frequently as more people recognize the potential returns on investment. In addition, with a flourishing market like Toronto's, Condo Assignment Toronto offers even more remarkable opportunities for those searching to break into real estate investing.
Why would Assignors assign their unit?
- An assignor may look to sell their preconstruction on assignment due to changes in their life situation. Many of these agreements were entered into years ago and their situation may have changed.
- Assignors make have entered into the agreement years ago as an investment strategy to gain exposure to the real estate market without having to obtain a mortgage and is looking to realize their profit.
- Avoid closing costs – By assigning their unit prior to Closing Date, the Assignor may not be responsible to pay for closing costs (development charges, land transfer tax, Municipal tax in Toronto, etc.)
Why Consider Buying Condo Assignment in Toronto?
- Live in a Brand New Condo.
- The condo will typically be covered under Tarion warranty so you have peace of mind that any defects will be covered for a period of time.
- Many of our buyers realize instant equity as they obtain properties under market value.
Typical Costs Involved in Closing on A Toronto Assignment Purchase (For the Assignee)
- Land Transfer Tax (Provincial & Municipal)
- Development Charges
- Utility Connection Fees
- HST (Consult your Accountant on if this can be rebated per the CRA Policy). Typical HST fee is $24,000.
- Legal Fees
Typical Costs Involved in Closing on A Toronto Assignment Purchase (For the Assignee)
- Realtor Commission Fees
- Assignment Fees
- Administrative Fees
- Legal Fees
- Other Fees As Agreed Upon in the Agreement of Purchase and Sale
