What Is A Pre-sale Assignment?
(June 16, 2014
)
What Is A Pre-sale Assignment?
Our real estate team at The BC Home Hunter Group have extensive experience in all areas of real estate. Our real estate sales manager, Mandeep Sendher, eats and breaths helping our clients.
Our real estate team at The BC Home Hunter Group have extensive experience in all areas of real estate. Our real estate sales manager, Mandeep Sendher, eats and breaths helping our clients.Feel free to call or email our passionate team for The Truth About Real Estate, to purchase a Pre-Sale or just to chat about any of your questions or concerns, 604.767.6736.
A Pre-Sale is when a Developer carries out a pre-construction sale program. There are numerous advantages in buying Pre-Sale.
In times of high demand, it may be the only way to get your hands on a hot property in a sought after area. It also means that the purchaser often does not have to pay the balance for quite some time after signing the contracts. For all this time the value of 'their' property could be rising, and they still have not had to sell their existing home, meaning extra benefit if they can sell later at a higher price.
Investors have also fared well from buying Pre-Sale property. In times of a rising property market, it is perfectly possible to achieve a significant profit even before a brick has been laid, through an Assignment sale.
With an Assignment sale, the Purchaser is buying the rights and obligations to the yet-to-be-built property from the Original Purchaser.
Investors have also fared well from buying Pre-Sale property. In times of a rising property market, it is perfectly possible to achieve a significant profit even before a brick has been laid, through an Assignment sale.
With an Assignment sale, the Purchaser is buying the rights and obligations to the yet-to-be-built property from the Original Purchaser.
The original purchaser sells and/or transfers all the rights and obligations of the original contract between themselves and the Developer to another party before the official completion date for the property. Title transfer for the property does not occur until the city issues the necessary permits and the unit is ready for physical occupancy.
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