How to handle House Assignment sale Ontario - Need Advice
Hi Guys, Real Estate expert,
Need your advice. Please help.
I am planning to sell my pre-construction - Detached house in Brampton. I am selling it on the purchase price, not making any profits so haven't hired any Realtor. I will be selling it as an Assignment. I will be hiring the Lawyer to close the deal and communicate between me, Builder, and the buyer but he will act on the conditions agreed in the sale-purchase agreement, and as per my knowledge that agreement becomes the base, every condition gets written out in that. As I won't be working with any realtor on my side, so I have to check the sale-purchase agreement myself rather than just relying on buyers' realtor.
I heard there are some complexities in Assignment so wanted to know from you what shall be put in the sale-purchase agreement. I know a few things, like
- HST needs to be the responsibility of the buyer.
- I know there is still some liability on me even after I sell it till it gets closed by the buyer.
What are the other things I should be taking care of? Is there any template sale-purchase agreement for assignment sale of detached houses
Thanks
Nitin
Need your advice. Please help.
I am planning to sell my pre-construction - Detached house in Brampton. I am selling it on the purchase price, not making any profits so haven't hired any Realtor. I will be selling it as an Assignment. I will be hiring the Lawyer to close the deal and communicate between me, Builder, and the buyer but he will act on the conditions agreed in the sale-purchase agreement, and as per my knowledge that agreement becomes the base, every condition gets written out in that. As I won't be working with any realtor on my side, so I have to check the sale-purchase agreement myself rather than just relying on buyers' realtor.
I heard there are some complexities in Assignment so wanted to know from you what shall be put in the sale-purchase agreement. I know a few things, like
- HST needs to be the responsibility of the buyer.
- I know there is still some liability on me even after I sell it till it gets closed by the buyer.
What are the other things I should be taking care of? Is there any template sale-purchase agreement for assignment sale of detached houses
Thanks
Nitin
Last edited by bigfootcanada on May 4th, 2020 9:49 am, edited 1 time in total.