Background on Assignments
Most real estate sale agreements can be assigned - any ownership: condo/freehold; any property type: apartment, townhouse, semi, etc and any status: pre-construction, built and resale.
The majority involve condo apartments and condo/freehold townhomes purchased from a Builder/Vendor in the Preconstruction period.
SELLERS (Assignors) - Why You Want to Sell by Assignment:
Your life has changed since you signed that Builder Agreement perhaps 3-4 years ago - job transfer, health, marital or financial changes - life happens
You have decided not to wait to go through Occupancy and Closing with the Builder (these are likely still tentative or unknown dates to you) and then do a Resale with more costs.
A costly Default on your Builder Agreement is not a good option.
Instead, You decide to do an Assignment and get back ALL your DEPOSITS and your PROFIT (market growth/equity) and move on to better alternatives.
First-time buyers retain their status after an Assignment as they have never received title to the property.
BUYERS (Assignees): Why You Want to Buy an Assignment:
Assignment lets you buy property in SOLD-OUT PROJECTS, near the end of construction but prior to Occupancy and not available through any other means.
Faster and Brand New: You get a brand new condo without the long wait involved with new projects. Since Covid construction times have been stretched out.
Pricing is negotiable, unlike most Builder Agreements.
Your Financial Approval is easier as the Rate Hold to Closing is much shorter.
Builder Incentives are often transferrable to the Assignee but not always.
My Assignment Service Coverage - all across Ontario:
I am a fully licensed RE/MAX HALLMARK Realtor in the Province of Ontario.
I have successfully sold 95% of my sales within the GTA and a few outside this area.
Assignments do not require a local realtor - there is no staging, showings, yard signs, or open houses. since the property is usually under construction
Timing Tip: Usually best to Assign at least one Spring market before Occupancy - more on this elsewhere.
My service includes recommendations for Assignment Savvy Experts, such as; Lenders, Lawyers and other Services you may require.
We can begin with a simple conversation:
Dennis Paradis, Realtor For Busy People™
You may want to complete the Condo Data Form before calling me - it's optional
What Clients Say ...
You have been more than helpful with me with regards to our condo sale. Even before we officially were given permission to sell, you've spent quite a bit of your time with me on the phone explaining things to me and I appreciated it.
I really appreciated Dennis's expertise in assignment sales as I had to assign my unit in a short period of time from another city. Dennis was very knowledgeable and hardworking and I trusted him every step of the way. I recommend Dennis to anyone who really appreciates having an experienced real estate agent on your side who can take care of everything especially if you are too busy to do so. (sold her unit in Pickering while she lived in Ottawa).