I bought a pre construction condo what are my options?

I bought a pre construction condo what are my options? some of my clients have bought pre construction condos that will close this year, and some will close next and others 2 years doen the road, and they always ask what is the best course of actions, we'll.... that depends on what terms and conditions where there at thetime of purchase and what was your end goal at the time of purchase. some builders will allow for assignment before closing with certain restrictions, and some builders will give a rental guarantee for one year after occupancy. if your goal was to buy it as a rental unit, then we'll prep the unit for lease once occupancy happend and get the best tenants, if the builder is providing rental guarantee, this maybe attractive for some investore, but can you really trsut the builder to put a good tenant in the unit?! other investors look at it from a resale point of view, this could happen before closing if the builder allows it, and this is called an assignment sale, where the original buyer will assign the unit to a new buyer at a mutually agreed on market price, most likely profitable for the original buyer. Other investors will not be able to sell on assignement, but will sell after closing happens. for more on pre construction condos, subscribe to may chanel, and message me anytime with any questions.

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