Markham & Ellesmere - Assignment 1 Bed (Deal or TGTBT)
I've been approached with an opportunity to purchase a 1 bedroom unit at Markham/Ellesmere.
384 Sq ft 1 Bed (not legal one bed, see floorplan for explanation on that) on the 5th floor. (No parking, no locker)
https://www.buzzbuzzhome.com/ca/me-livi ... os/ted-384
Now, the offer is to purchase the unit for $280K in a private sale. The maintenance is $200 monthly.
Did I find the deal of the year, or does something seem fishy? It's a brand new building with occupancy already provided to the unit, and closing will be in Sept 2020. I've looked at the unit and it all looks fine to me.
The only thing that is kind of scaring me is that the original price the original buyer purchased it for from the builder was $160K so I'm essentially providing a $120K profit to the original buyer.
Since every sale in this building is done off MLS I have no way of knowing what 'market value' is for this condo project!
Thank you so much... I have until 6pm tomorrow to sign.
GTA & Surrounding Areas