Assignments (buying a property before it is registered) represent the best buying opportunities for first time buyers – read CHEAPEST! Why?
First, there are not as many people looking at these types of properties. That’s because real estate agents don’t know how to structure the Offer and most lawyers don’t know how to close the deal. So most agents will never show an Assignment – meaning less competition.
Secondly, Assignments are offered in buildings where common areas are still under construction and the unit may have construction deficiencies. For some, it is like entering a war zone! This will also scare off a number of potential buyers. But remember, the builder is bound by a Tarion Warranty to get all of these deficiencies fixed. So if you don’t mind a little inconvenience at the outset, you can score a great deal.
Finally, first time buyers always like to buy new and you cannot get anything newer than an assignment!!
So go find a real estate agent who knows his way around the Assignment Market and get yourself a great deal!!