Buying on Assignment

[RELover]

Hi All,

My sis wants to buy a house which is closing In July 2017 through an assignment sale. What is the process? What should she look out for? What should she pay for? How can she protect herself?

This would be in the red hot market of Toronto

 

[Thomas Beyer]

She should ensure
a) the house is appropriately priced for the condition & location, and
b) the contract language is tight enough, (such as the current owner or the purchase contract signed allows it, as some do not), and
c) she can get financing

 

[RELover]

Thanks Thomas.