Are you thinking of Selling Your Condo Assignment Unit?
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Can I Assign my Condo NOW?
It depends. When purchasing pre-construction, different builders use their own set of contracts. You will need to ensure that an ASSIGNMENT CLAUSE is included in yours. There is normally a fee that builders charge for this assignment option (in the range of $2500-$5000) and it is granted upon builder consent (which cannot be reasonable withheld).
Some Assignment clauses state when you are able to assign your condo depending on the stage of development. Some may not allow you to assign at all. In order to be sure, please contact us and we can discuss your particular situation. We would love to help you sell your assignment!
Benefits of Selling an Assignment Sale
- You can save money on closing costs...these get passed on to the new buyer and they are very expensive!
- Avoid breaking a mortgage and incuring penalties if your selling after registration.
- Avoid the costly Provincial and City Land Transfer Taxes.
- Avoid Adjustment Costs
- Don't pay occupancy costs. If you have no intention of living in the unit, avoid paying these costs to the builder (which do not go toward your principle on your mortgage)
- Your original deposit money is returned back to you.
Contact us Today to Sell my Assignment.
Do you have an Assignment Condo to sell?
Assignments require a great deal of attention to detail. And...it's not just about posting them on the MLS! Around 90% of Assignments cannot be advertised on the MLS system. It's about contacts, networking, and about working with the Top Real Estate company and team in Toronto! ReMax Hallmark has TOP Market Share in Toronto and boasts top sales numbers in the City of Toronto. We have over 600 agents with databases of investors and buyers who are actively looking for Assignments!
These sales are tricky and they require specialized knowledge and expertise. This only comes from years of being in the real estate business and selling 100's of condos. Both of which we have!
If you are interested in selling an assignment or have questions as to whether this is the right move for your investment, then please call us right away for Professional Advice. We have solid experience in this area. There are legal and financial implications when selling an assignment and we make sure that all your bases are covered!
Selling an Assignment is typically more technical than a resale condo...it is in YOUR best interests to have an agent working for you right away.
Our information is intended as a guideline only and we recommend you seek independent legal advice with any condo assignment purchase or sale