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Condo Assignment News and Reports
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To enhance your buying and selling experience, it’s our job as real estate professionals to provide you with as much valuable information as possible. It is essential that the buyer or seller be aware of all aspects of the real estate market before making a major decision. Whether it be through newsletters, checklists or news articles, we are here to make this process stress-free and rewarding. Please access our free reports today!
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Condo Investment Plan - Flip or Hold
This exclusive and insightful report shows you how to use the "Flip" or the "Buy and Hold" strategy to earn substantial net earnings in new condo developments. My latest report details all the costs, assumptions and net earnings for each strategy and compares the two. See why I recommend the" Flip" vs the "Buy and Hold" approach. PDF,15 pages (Use Landscape/Horizontal print option to Print).
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Beware if you're purchasing new to flip
On April 12, 2008, in the Toronto Star - New in Homes.Law Bob Aaron cautions "flippers" that they need to register with Tarion if they never occupy the unit they are assigning or face fines of up to $25,000 or imprisonment of up to one year or both. If the assignor (seller) occupies the unit prior to flipping this requirment is waived. The cost of registering varies according to purchase price and for $250-300K is $595. See Tarion's website - Warranty Costs for the complete table. Word doc, 3pgs.
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Selling unregistered condos can be complex
Bob Aaron, who writes articles on legal issues in real estate for the Toronto Star, describes some of the challenges involved in assignments (flips). Since this was written, a new standard form has been created that greatly simplifies the paperwork involved.
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Condo Insurance - Seven Tips
Take the time to understand your coverage or pay the piper later. Article by Denise Nash, respected authority on condo legal issues, published April, 2008. Word doc. 2 pgs.
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