Benefits for the Seller (Assignor)

What are the benefits to the assignor (original buyer/investor)?

1. Not having to pay the occupancy fees until closing.
2. Not having to pay the closing costs, including those "open ended" levies.
3. Not having to pay the Land Transfer Taxes.
4. Getting the deposit back (including the interest paid by the Vendor/Builder).
5. Making a reasonable profit on the market appreciation of the condo unit.
6. If you happen to be a first time buyer, you would retain your status for the next purchase (assigning means you never took title so you still qualify) and be entitled to the credits when you do buy and take possession. 

Selling by Assignment can mean: Taking your condo profit at its peak.

We have studied the investment strategies of flip vs hold in pre-construction condos in great detail - See our exclusive and comprehensive reports: Condo Investment Plan: Flip or Hold  and Assignment vs Resale - A Comparison in the Reports section of this website. 

The introduction of the Harmonized Sales Tax (HST) on July 1, 2010 will make the Flip option even more attractive as HST will mean higher closing and operational costs (condo fees, services, etc.) thus reducing the profits in a Hold strategy.