Selling an Assigment

If you have purchased a condo in a development which is still under construction and wish to sell today, you must do so by way of an assignment sale.You do not have title(ownership) and the condo is not registered so you are selling your purchase agreement.

You must have the Builder's consent

The first step of this process is to confirm and clarify the terms of the contract as to the conditions and cost associated with the assignment, usually the developer charges an administrative fee which is your responsibility in addition to any applicable commission charges...Some contracts restrict assignments, prior to interim occupancy. ..A typical fee is 1% of the original price....The new buyer with the builders permission would assume the occupancy costs from date of acceptance of the assignment till closing.The new buyer would provide a reasonable deposit to secure the transaction.The new buyer would close and pay closing costs, you would get your deposit monies and profit at closing.The buyers would get his mortgage to cover the costs to pay you...( your deposit plus profit) and the balance owed to the builder.

List and Sell

Assuming that your purchase and sale agreement allows you to assign the contract prior to final closing and /or you have received approval in writing from the builder, you are now in the position to hire a realtor to assist you with this task...You should put this task in a professional trusted experienced realtor such as myself to ensure a problem free transaction....I have been delivering quality service since 1992....Re/max West Realty Inc.,brokerage has six locations to serve you better.

Contact me today and lets talk about your plans to sell.......www.brianbevington.com