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Dont want my midtown T.O. condo assignment anymore, what to do? Helpful advice please

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Daria Melody

Daria Melody

Authentic Hotel Masseuse
Jul 2, 2017
28
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Toronto
Was assigned a 2 bed Condo next to subway station, my move in date is comming up and I'm not so interested in keeping it anymore. I'm allowed to sell it but not allowed to advertise it,... useful ideas or advise is appreciated. Feel free to PM me with any RELEVANT help.
 
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Samranchoi

Asian Picasso
Jan 11, 2014
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Daria Melody said:
Was assigned a 2 bed Condo next to subway station, my move in date is comming up and I'm not so interested in keeping it anymore. I'm allowed to sell it but not allowed to advertise it,... useful ideas or advise is appreciated. Feel free to PM me with any RELEVANT help.
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Just to clarify, did you purchase from the builder or did you purchase from the original purchaser, hence the term "condo assignment".
 
Daria Melody

Daria Melody

Authentic Hotel Masseuse
Jul 2, 2017
28
0
1
Toronto
I purchased from the builder. I could give it back to them but why would I, I'm not interested in loosing money. I can afford to keep it, just not so interested anymore. The ghost rent for what could be up to 8 months or so isn't so appealing to me. I knew about it at the time but decided what the heck in my "You snooze you loose mentality." Now i dont feel so much to couph up the rest of the dough.
 
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Smallcock

Active member
Jun 5, 2009
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How much $$$ do you want for it? What major intersection?
 
Daria Melody

Daria Melody

Authentic Hotel Masseuse
Jul 2, 2017
28
0
1
Toronto
It on the corner of an affluent major intersection.
 
S

Samranchoi

Asian Picasso
Jan 11, 2014
2,609
696
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Daria Melody said:
I purchased from the builder. I could give it back to them but why would I, I'm not interested in loosing money. I can afford to keep it, just not so interested anymore. The ghost rent for what could be up to 8 months or so isn't so appealing to me. I knew about it at the time but decided what the heck in my "You snooze you loose mentality." Now i dont feel so much to couph up the rest of the dough.
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I have seen many "condo assignment" sales from the original purchaser to another purchaser. Some have been on MLS and some have been purchased privately. You may want to speak with a real estate agent that is familiar with the condo market in the area where you are located, they may have someone who is looking for a unit in the area/building. This way you don't have to advertise but you may have to pay a commission to the agent. Has the value of the unit increased since you purchased it.
 
Daria Melody

Daria Melody

Authentic Hotel Masseuse
Jul 2, 2017
28
0
1
Toronto
Bathurst and st. Clair, its a 2 bed, 2bath, 2 balcony 753sqft on a lower floor, I did not get parking or storage, move in set for end of February.

My real estate agents connections seem to be limited and I'm starting to get nervous about having to keep it, I would need to keep it for one year, (i think thats what it says in my aggrement) and that's a long time for me to keep something I'm not so excited about anymore. The value has increased, so I'm certainly not giving it back. The builder does not allow me to advertise it on the Toronto releastate board. If push comes to shove perhaps I will inquire of a condo agent in my neighborhood then.
 
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HOLLYWOODG

Well-known member
Dec 11, 2016
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Daria Melody said:
Bathurst and st. Clair, its a 2 bed, 2bath, 2 balcony 753sqft on a lower floor, I did not get parking or storage, move in set for end of February.

My real estate agents connections seem to be limited and I'm starting to get nervous about having to keep it, your not allowed to sell it for one year and that's a long time for me to keep something I'm not so excited about anymore. The value has increased, so I'm certainly not giving it back;)
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How much profit do you want to make? PM me your expectations.
 
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The LoLRus

Well-known member
Mar 30, 2009
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Daria Melody said:
Bathurst and st. Clair, its a 2 bed, 2bath, 2 balcony 753sqft on a lower floor
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How the heck did they fit 2 bedrooms and 2 baths into 753 sqft?? :Eek:

If you decide to sell I highly recommend comfree.com. It'll save you lots of $$$
 
T

The LoLRus

Well-known member
Mar 30, 2009
2,270
136
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My advice is rent it out to a tenant for a year or two, and then sell it in 2019 or 2020. You might lose a bit of money but you should be able to recoup that when you sell the condo.

There's a serious shortage of rentals in Toronto right now, you'll probably have people lined up to rent it from you given Bathurst & St. Clair is a reasonably good location
 
Daria Melody

Daria Melody

Authentic Hotel Masseuse
Jul 2, 2017
28
0
1
Toronto
Airbnbs won't be allowed,.. It 'll be a new high rise,.. I dont think any new highrises allow airbnbs.
 
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Smallcock

Active member
Jun 5, 2009
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Daria Melody said:
Asking a reasonable current market price. ;)
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What is the current market price for your unit? Condos downtown range from $800 - $1000+ per sq ft.
 
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