Buy Pre-Construction Condos to Re-Sell (Flip or Re-Assign)
We’ve worked with private individuals who have profitably executed the purchase of new condos who intended the turn around and sell them quickly. Your purchase can be flipped or in some cases, re-assigned. There’s a difference, and each have differing implications.
- “Flipping” / Re-selling your Condo Purchase. This refers to seeing the purchase through to completion, and then turning around to sell the property on the believe that you’ll earn a profit.
- Re-Assignment of your Condo Purchase. In simple terms, re-assignment means you’re actually not taking possession of the property, but rather that you’re transferring the Agreement of Purchase and Sale to another buyer (before closing).
Each investment type has different implications. You’ll want to consider tax implications and particularly in the case of re-assignments, whether there are stipulations that disallow this practice entirely.
Our Team not only knows the ins and outs of buying pre-construction and re-selling or re-assigning, our strategies and access may provide you with advantages like:
- preferential Purchase and Sale Agreement terms to afford you the greatest flexibility (often not afforded to other buyers)
- early access to purchasing the best units, in the best new construction projects that help you sell – fast