Pre-construction buyers often sell condos on assignment as part of an investment strategy but it all depends on your current situation. Maybe your lifestyle has changed, and the unit you were excited about a year ago is no longer ideal. Perhaps you’re facing some financial challenges, and you need some cash in the short term.
Whatever your circumstances, Our Team can help you decide if selling on assignment is right for you.
Please be aware that there are marketing restrictions placed on most assignment sales. While it depends on the terms of your agreement with the builder, you probably won’t be able to post on the MLS or online marketing.
If you market your assignment in violation of your contract, the builder may be able to CANCEL your agreement—and hold onto your deposit.
For this reason, working with Our Team who knows the local condo market very well is your best choice for finding a buyer.
A new purchaser (Assignee) who is buying on assignment should pay the Assignor their full deposit plus profit.