We are thrilled with the response we’ve been getting from buyers and sellers    across the city interested in learning more about this new market. We  understand that as an investor, you are looking for the best deal, to maximize  your profit and reduce your expenses. Traditionally, most investors will go with  their realtor to the developer to buy a pre-sale condo unit, or they will have  them do a search on the MLS (Multiple Listing Service) for a resale. The problem  is that investors are missing out on assignment opportunities where condo units  are going for much less than pre-sale and resale prices. By choosing  assignment alternatives, you are in control. You can also take advantage of bulk  sales where other investors come together to buy multiple units at a discounted  price. At our last VIP event, our investors picked up abut 80 units in one  midnight blitz and we plan to offer them more of these group rates in the  future. 
As a Buyer of an assignment, you are getting a brand new unit for a lower price than a Presale or Resale. Since they are exclusively sold, it may be the only way to get your hands a hot property in times of high demand for less.

    What is an           Assignment       Assigning      ResaleVS           As Your
  
 Assignment         Advantages       My Unit         Assignment     Landlord
 
What is an Assignment
 
Assignments are legal transactions where the original purchaser (assignor) transfers his/her property rights to a second purchaser (assignee) during Interim Occupancy and before Final Closing. Historically, sellers have fared well from selling property through an Assignment sale. New home condominiums can often get re-valued with surprisingly high gains for the original sellers. Although these types of sales have been booming in such places as Vancouver and Dubai, condo assignment sales are new to the Toronto markets. Many owners have been curious about assignments, but there hasn’t really been anyone to educate and support sellers that are looking to list their units for assignment

Assignment Advantages

Sellers who have researched and are motivated to sell right away benefit from the fact that they don’t have to wait for Final Closing to get their deposits back. They also save on all the taxes, Final Closing costs and Monthly Interim Occupancy fees. These fee's have been eating 40-60% of the investor's profit. These elements are the key reasons why more and more investors are taking advantage of Assignment opportunities. They know they are saving time and maximizing their profits!

As a Buyer of an assignment, you are getting a brand new unit for a lower price than a Presale or Resale. Since they are exclusively sold, it may be the only way to get your hands a hot property in times of high demand for less.

Assigning My Unit

The most common question we have been getting is “Can I legally assign my unit?” For the most part, developers will give us consent to allow for assignments. In fact in the past three years we have yet to be turned down, not that anyone can just go ahead and do it, there is a systematic, legal and professional approach that we use so as not to jeopardize your position with the developer. We have 40 years of new home sales and legal experience backing you up. Trust in us and let us do what we do best, our job. We trust that you will do yours and continue investing with us on future projects.

Resale VS Assignment

In terms of profit, some owners think it would be better to wait and sell their unit on the open market for a higher price. However, they may have forgotten about the costs involved in closing their unit. On average, closing costs have been about $15,000 including provincial land tax, city tax, GST and education levies along with Tarion Warranty fees, legal fees, hook-ups, disbursements and adjustments not to mention a host of additional fees that the developers have added. Most have no idea that they have signed an agreement which allows for these provisions, (check out page 2 in the agreement of purchase and sale under adjustments).

You are also paying the Interim Occupancy fees (mortgage, tax and maintenance) up until the final closing. Lets not forget to mention the waiting time, some buildings can take up to 10 months to close. For owners not planning to move in to the units themselves, this can cut into profits earned since the time that they bought it. By the end of it, they’ve paid more in closing costs than the difference between the resale and assignment sale price.

As Your Landlord...

As an owner, you should take comfort in the fact that we have successfully rented out 98% of our rental listings for the past 5 years. We will always work in your best interests to get you the best price for your unit and a trustworthy Tenant. We take care of the paperwork, exchange of keys and cheques and ensure all your questions and concerns are dealt with efficiently. We even have a Property Management Program in which we act as the liaison between you and your Tenant for a small fee (6%). In this way, you never have to worry about collecting rent since we do the work for you.