Answer:-
An assignment sale in Toronto involves selling the purchase agreement of a pre-construction property before its completion. It allows the original buyer (assignor) to transfer their rights and obligations to a new buyer (assignee). Toronto's thriving real estate market makes assignment sales popular, especially for condos. Buyers should consider key factors such as the builder's assignment policies, associated fees, and potential taxes. Engaging a real estate lawyer is essential to review the contract and ensure a smooth transaction. Understanding market trends and the property’s value is crucial for making an informed decision and maximizing investment opportunities in Toronto's real estate.
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