Advantages:

• Assignment properties allow buyers to purchase a nearly completed home, often with lower deposit requirements and sometimes below current market value.

• The original buyer may be motivated to sell quickly, giving you better leverage to negotiate the price, especially closer to the completion date.

• Buyers may have the opportunity to secure homes in developments that are already sold out.

• Since the unit has never been lived in, you receive a brand-new home with modern finishes, new appliances, and full warranties.

• Viewing the construction progress offers insight into the building layout and reassurance that the development will be completed as planned.

• As with presale homes, assignment purchases come with full 2-5-10 home warranty coverage, ensuring protection for your investment.

Risks:

• Buyers must ensure they qualify for a mortgage at completion, as financing requirements may differ from presales.

• It’s important to work with an experienced real estate agent specializing in assignments to navigate potential risks, negotiate favorable terms, and ensure a smooth transaction.

• Unlike presale purchases, you may not have the option to select finishes, upgrades, or make changes to the unit.