Posted on: 22-02-16 09:37:10
Assignment clause :
Q1 Usually when you buy a new house / condo, usually is their a one time assignment clause or multiple ?
Q2 return on investment expected on a new condo ?
Thanks
Aashu... When ever you are buying or getting into a transaction involving a Fixed Asset, you have to use the services of a Lawyer. They have secretaries who will answer all of the questions that you need answers to.
So, please contact the secretary and get them.
At the same time here is the answer to it under this.
Hope this helps.
FH.
http://www.zinatikay.com/assignment-guide-how-to-assign-or-flip-a-property/
Another interesting article here from F/N.P... : http://business.financialpost.com/personal-finance/mortgages-real-estate/get-ready-to-pay-income-tax-on-your-condo-profit
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Quote:
Originally posted by Aashu
Assignment clause :
Q1 Usually when you buy a new house / condo, usually is their a one time assignment clause or multiple ?
Q2 return on investment expected on a new condo ?
Thanks
Quote:
Originally posted by Aashu
Q2 return on investment expected on a new condo ?
Thanks
Are you thinking of RoI from a renting perspective or flipping it and pocketing the profit.
If you're looking at it from a renting perspective:
RoI would depend on a number of factors:
1. Location, Location, Location
2. Inital cost
3. Ongoing cost (maintenance, mortgage amount and installment)
Bottom line, everything boils down to location. Demand in that neighbourhood will dictate the rent.
OTOH, if you're looking at it from a resale perspective:
1. Location, location, location... (again)
2. At what stage of the construction did you buy the unit. Units bought early on, before start of construction rather when bookings first open are generally the ones on which you could have more $ when compared to the ones bought later on, once construction has started.
3. Ongoing Condo fees
4. Amenities offered by the Condo
Note: This is not an exhaustive list
Disclaimer: I am not a real estate broker
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Reiki Grand Master
in the cost of good location condo , you can buy a town home or even semi attached (location compromise though) and put on rent. That will be better investment, I am assuming it as investment prospect because you talked about reassignment/flip clause. Flipping has some hidden charges which you realise only when you are doing it. In current low demand high count situation, a workable reassignment deal may not realise in time ( its a time bound activity I presume).
You sign only one time reassignment clause with builder. Rest is between new owner and builder after first reassignment.
