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Assignment Clause

Hello All,

I purchased a condo I was originally going to move in but circumstances changed. I’ve looked at multiple options and thought reassigning might be for me. The builder is charging about 15k to add this to the contract (was not originally included). My interim occupancy is in a couple of weeks and closing in 3-6 months.

I’m not entirely sure of all the expenses but I believe since there will agents commission, closing cost, tax implications in Ontario and the charge above, is it really worth going for the assignment?

Could I simply rent the place after closing? But that comes with the uncertainty as closing may be further delayed.

The builder also offered a buy-back offer, going up to 30k above the purchase price.

Assignment Clause – RobinHood – Reddit Feed


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