Answer:-
An assignment sale occurs when the original buyer of a property sells their purchase agreement to a new buyer before the property is completed or occupied. Key considerations include understanding the contract terms, such as the assignment fee and original purchase price. It's important to verify the developer's approval for the assignment and check for any restrictions. Consider the financial implications, including the deposit, closing costs, and potential taxes like HST or capital gains. Engage a real estate lawyer to review the agreement and ensure compliance with legal requirements. Research market conditions to assess the property's value before proceeding.
Do you need an answer to a question different from the above?
