Buying Presale condos & Assignment of Contracts
Feel free to utilize our presale condo resources and ask our team of experts any questions about purchasing presale condos and assignment of contracts in Vancouver, BC. The process can be intricate, but with the guidance of our experienced specialists in the field, we aim to make it as seamless as possible. We are here to assist you every step of the way!
What is a presale condo? Pros and Cons?
In essence, a presale condo refers to a condominium unit available for purchase before construction is finished or even before it has been built. As a result, buyers make their purchase decisions based on architectural plans, visual representations, and promotional materials rather than an opportunity to inspect the actual unit physically.
Is a presale condo a good investment?
Investing in a presale condo presents a promising opportunity, yet it has its fair share of risks that require thoughtful evaluation.
One advantage of opting for a presale condo investment is the potential to secure the unit at a lower cost than its future completed and occupied state. This advantageous pricing could lead to a favourable return on investment, particularly if the condo’s value appreciates over time.
What Is A Presale Condo Assignment of Contract?
In British Columbia, a presale condo assignment of contract refers to a legal arrangement wherein the original buyer of a presale condo (the “assignor”) transfers their purchasing rights for the unit to a new buyer (the “assignee”). This transfer usually occurs before the unit’s construction is finished or even before it has begun.
What are the pros and cons of a presale assignment?
Acquiring a presale assignment of contract and sale in BC has various pros and cons that should be carefully considered.
Contact us for any questions about our presale condo resources.