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What Is A Condo Assignment?

Friday Apr 26th, 2019

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What is a Condo Assignment? A condo assignment is when a Seller, known as the Assignee, sells their interest in a property before they take possession. The contract they have with the Builder is sold to a new Purchaser, known as the Assignor. The actual property is not being sold since title hasn't been transferred yet, so this is not to be mistaken. Rather, what is being sold is the contract itself, along with the rights and obligations of the Agreement of Purchase... [read more]

Canadian Residential Real Estate Investment Peaked And Is Heading For Declines

Thursday Jul 26th, 2018

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Source: BetterDwelling.com, by Stephen Punwasi Peak Canadian real estate investment is behind us, according to another indicator. Statistics Canada (StatCan) numbers show residential investment as a percentage of gross domestic product (GDP) is moving lower. Taking a dive through unadjusted data, we can see this trend is primed to head much lower soon. What Is Residential Investment? Residential investment is how countries measure economic activity related to building residential... [read more]

Condo Market Speculators In Toronto, Vancouver A Risk To Economy

Wednesday Jun 13th, 2018

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The Bank of Canada says condos have become the latest target of real estate speculators, making them a more risky investment.   Be careful if you're planning to jump into the condo market in Toronto, Vancouver or nearby areas: The Bank of Canada says condos have become the latest target of real estate speculators, making them a more risky investment. In its financial system review released last week, the Bank noted that the housing markets in many Canadian cities have reversed... [read more]

Toronto housing sales slump in weakest start since 2009 recession

Saturday May 19th, 2018

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  Condo prices jump 10%, while detached home prices fall 10%   Source: FInancial Post, Erik Hertzberg and Natalie Wong   Spring has finally sprung but Toronto’s home sales remain gloomy as tougher mortgage qualifications and rising interest rates continue to push buyers out of the market. Realtors in Canada’s biggest city had one of their worst months in the past 15 years in April, with sales down by almost one-third from a year earlier to 7,792... [read more]

7 Common Myths About Buying a Pre-Construction Condo

Wednesday Apr 11th, 2018

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Source: Tridel.com Buying a pre-construction condo is a big financial investment. First, it’s not built yet, so you’re buying based on a conceptual understanding of what the final building and suite will be like. Second, unlike buying a freehold property like a house, you’re also paying for maintenance, upkeep and common amenities. That’s why it’s important to consider all of the facts about buying a pre-construction condo before you... [read more]

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