Our team specializes in the sale and purchase of assignment properties throughout the Greater Toronto Area. Whether you are looking to reassign your contract or find an assignment unit in a pre-construction development, our expertise ensures a smooth and successful experience.
Can’t Close On Your Pre-construction Unit?
What Are Your Options?
If you have purchased a Pre-Construction property a few years ago and now find yourself unable to close the deal, Many people think they can just walk away from the deal and let their deposit go, but in reality, it is more than just losing your deposit. The developer won’t stop at that, they will come after you for the loss and their legal fee.
f you are in this scenario, here is the game plan, consider assigning your unit as soon as possible. You may need to lower your expectations and lose a little bit of your deposit to sweeten the deal for the buyer.
Now assignment isn’t your only card to play, you could team up with someone for a joint venture to close the property together, then you may need to find the tenant for a while so they can pay off some of your debts. And also give you enough time and flexibility to come up with the new plan. But if you are leaning towards the assignment, make sure you are aware of all the details.
If you have any question, feel free to contact us and we can guide you through the process before it gets too late.
Want to discuss Selling or Buying an assignment in Great Toronto Area with The Team Asgarian? Contact us today by completing the form here.
How Buyers Benefit
Buying an assignment property is a fantastic opportunity for buyers for many reasons:
Oftentimes, buyers miss their chance on a pre-construction project and have to wait years for a unit in the building to come on the market. With assignments, buyers can get into their dream building earlier, sometimes just a few months before occupancy.
Assignments are a lesser-known purchasing option, therefore, fewer buyers pursue them. Assignment buyers can usually avoid stressful multiple offer scenarios and leverage a seller’s need to sell quickly.
A BRAND NEW SPACE
Assignment buyers reap the benefits of purchasing in a brand new building. If they purchase early on in the process, they can usually select their finishes and upgrades, depending on the builder and contract.
Have you invested in a pre-construction unit that you now want to sell? The Team Asgarian is your key to a smooth assignment sale. Here are the advantages of selling your assignment with our team:
AN EXTENSIVE DATABASE
There are certain advertising restrictions for assignment sales (set by the builder) that make it more important than ever to work with a well-connected team. Our global network and established database of buyers will help your assignment reach a large number of people and sell for the highest possible price.
Every aspect of your sale will be handled exclusively by our team, with support from our extended team of trusted professionals.
With years of experience selling assignments, we have the expertise needed to help you secure your equity as quickly as possible and will ensure your profits reflect current market values.
John Doe finds a great pre-construction development and purchases a unit in the building. At this stage, John Doe is actually purchasing the rights to the unit via a purchase agreement, since the building is not completed.
Before the building is completed and registered, John Doe has a change of heart. Perhaps he’s relocating or his family has grown since his initial purchase and he needs more space. Since the completion of a pre-construction development can take a few years, this is quite common.
Due to the assignment clause in his purchase agreement, he is able to sell the contract for his unit. John Doe reaches out to The Team Asgarian for help — he knows they are the local experts in pre-construction and assignment sales, and trusts their expertise.
The Team Asgarian takes on the sale of his contract, and with their established knowledge of the process and network of qualified buyers, are able to quickly find a buyer.
The Team Asgarian Group guides both parties through a hassle-free sale; the buyer is excited to have purchased a unit in a building they originally missed out on, and John Doe has recouped his investment.
Want to discuss Selling or Buying an assignment in Great Toronto Area with The Team Asgarian?