New Houses & Condos assignments,HST and Capital Gains

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New Houses & Condos assignments,HST and Capital Gains

Post: # 47580Post Flipping4Profit.ca
Mon Jan 21, 2019 8:18 pm

New Houses & Condos assignments,HST and Capital Gains
Be extra careful with assignments


There are going to be more assignment FLIP deals, especially if buyers who purchased 2-3 years ago are now having difficulty closing.

Make sure to make the deal conditional on lawyer approval as there are HST and other issues relating to when the original deposits and the profit are to be made payable.

Also, you need to be careful to make sure that REAL ESTATE commission on any assignment agreement is paid as soon as the builder consents to the deal.

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