Buying Assignment Sales

05 April 2018

Today we would like to talk about condo assignments. For whatever the reason, some people who buy a pre-construction condo do not want to close, but instead, sell it, to another buyer as an assignment.

Agents don't always like to do assignments because they're difficult to do. With all the paperwork, they can make mistakes. Most lawyers don't like them because they don't understand them. But, Buyers should embrace them!

Here are 3 main reasons why Buyers should consider assignment sales;

There's a shortage of resale condos. Assignments provide more product to choose from. Besides, they've never been lived in and that's a positive too.

You rarely get into multiple offers since most agents stay away from them.

Depending on how much you can put down and how fast you can close, you can usually buy an assignment at slightly below the market price of resale condos.

So, find an agent who knows where to find these assignments. Most are not listed on MLS.

Read More About Condo Assignments

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