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Should You Consider Buying an Assignment Sale in Real Estate? A Comprehensive Guide

Real estate assignment sales, also known as flipping contracts, have become increasingly popular in recent years. In an assignment sale, the original purchaser of a property sells the rights to that purchase contract to a new buyer prior to closing. As a buyer, assignment sales can provide unique opportunities to purchase properties at discounted prices with built-in equity. However, these transactions also come with risks and complex legal considerations. This comprehensive guide examines the ins and outs of buying real estate on assignment to empower you to make informed decisions.

What is a Real Estate Assignment Sale?

In simplest terms, a real estate assignment sale happens when:

Buyer A enters into a purchase agreement to buy a property from the seller/developer.
Before taking possession or legal title, Buyer A sells their contractual rights to the property to Buyer B in exchange for an agreed payment.

So Buyer B assumes Buyer A’s purchase contract and ultimately closes on the property. The key defining aspect of an assignment sale is that the legal title or deed does not transfer until closing with the end buyer.

Assignment sales frequently occur with pre-construction condominium purchases. The original purchaser may choose to “flip” their contract if market prices appreciate or their circumstances change. By selling the contractual rights, they can profit without incurring closing costs.

Why Consider Buying an Assignment Sale?

There are several unique advantages to buying real estate via an assignment sale:

Purchase at Below-Market Value: Assignment contracts are often sold below fair market price, allowing buyers to secure properties for less. Sellers may accept discounts to exit contracts quickly.

Built-in Equity: Any price appreciation or added property value between contract singing and assignment closing goes to the buyer. This provides instant equity.

Customization: Depending on timing, buyers may get to select interior finishes like flooring, countertops, etc. This personal customization is rare with resales.

Faster Closing: Assignment purchases close almost immediately rather than waiting through long pre-construction periods. This improves cash flow timing.

Investment Potential: As marketsrise, assigned contracts can generate excellent returns for investors seeking short-term gains. Properties can be resold again before closing.

For buyers who understand the risks, assignment sales unlock unique real estate investment opportunities unavailable through traditional channels.

How Does the Assignment Sale Process Work?

While rewarding, completing an assignment purchase involves more complex legal and financial steps than typical closings. Here is the basic process:

Original Purchase Agreement: Buyer A contracts with the developer to purchase the property.
Assignment Agreement : Buyer B agrees to purchase the rights & responsibilities per the original purchase agreement from Buyer A.
Developer Approval : The developer reviews and formally approves assigning the purchase contract to Buyer B.
First Closing – Rights Transfer : Buyer B provides payment to Buyer A to assume contractual rights. Funds are held in trust by lawyers.
Second Closing – Property Transfer : Buyer B closes on the property with the developer, finalizing the purchase.

Both buyer and seller retain real estate lawyers during an assignment sale. All agreements should be carefully reviewed before signing to understand rights and tax implications.

Weighing the Pros and Cons of Assignment Purchases

While discounted pricing and equity gains tempt buyers, assignment transactions have risks to consider. Weigh the key pros and cons before proceeding:

Potential Advantages

Lower Entry Price : Assignors sell at a discount to exit quickly and avoid future closing fees. This discounts purchase costs.
Built-In Equity : Buyers inherit any appreciation gained since the original purchase. This provides an instant return on investment.
Custom Finishes : Buyers may select interior finishes depending on the build stage, allowing personal customization.
Quicker Closing : Assignments close within approximately 45 days rather than waiting through lengthy construction.
Strong Investment Returns : Flipping contracted units can generate strong returns quickly in rising markets ideal for investors seeking short-term plays.

Potential Disadvantages

Limited Selection : The inventory of assignable units is always smaller than the MLS residential resale market.
Complex Legal Process : Assignment contracts require careful review as buyers assume all risks. It also involves extra fees, taxes.
Transaction Uncertainty : The process depends on several independent parties, creating uncertainty. Delays or disagreements can disrupt deals.
Downside Market Risk : If the market shifts during the process, assigned contracts may sell at losses or fail to find buyers.
Speculation Drives Volatility : Assignments are common speculative plays, causing sales trends to overheat then crash rapidly. This introduces pricing risk.

As with any real estate purchase, conduct thorough due diligence, review agreements carefully, research market conditions extensively, and consult professionals. While rewarding when done right, assignments have less margin for error than typical closings.

Navigating the Complex Legal Landscape of Assignments

Beyond unfavorable pricing risk also lies legal liability risks for unwary buyers. Assignment sales exist in a gray area legally. While legitimate, they violate most purchase agreements. And complex contract transfers open the door for disputes. Consider a few key legal factors:

Purchase Agreement Restrictions – Most developers prohibit advertising contract assignments in purchase agreements. But silent sales happen despite restrictions. Tread carefully during marketing to avoid contract cancellation.

Tax Implications – Capital gains taxes apply on profits. But tax deferrals or exemptions based on use as a primary residence may ease burdens. Consult accountants to maximize after-tax returns.

Title Liability – Courts may impose legal judgments that create future property liens. Ensure title insurance covers liabilities tied to the assignor that could impact closing.

Deposit Structure – Deposits range from 5% to 20% down payment on assignments. Low deposits postpone payments but reduce quick profits. Expect to mirror original purchaser deposits.

Closing Fees – Legal fees often run higher for assignments. Transfer taxes and developer fees also apply. Model all costs accurately to determine actual investment returns.

Build contingencies into assignment agreements and work with specialized real estate lawyers to shield yourself from unnecessary risks. Respect contract restrictions and understand the developers can rescind illegally marketed deals.

How Market Conditions Impact Assignment Investment Potential

Not all real estate markets hold equal opportunities for contract flipping profits. The risks and returns of assignments shift dramatically based on broader housing market movements. Consider how conditions impact outcomes:

Appreciation Accelerates Gains – Rapid price growth allows assigned contracts to sell far above original purchase values, enabling immense profits.assignments thrive in up-trends.

Declines Spell Danger – Falling prices lead banks to deny financing and panic sellers to offer fire sale pricing. Avoid assigning in downward momentum.

High-Demand Fuels Churn – Low housing inventory and fierce competition incentivize rapid resales sight-unseen. These conditions produce bidding warsideal for profit.

Oversupply Skews Values – Surplus units create uncertainty and incentivize developers to dropprices. Expect below-market sales and limited interest when supply outpaces demand.

Closely follow housing indicators like pricing trends, resale volumes, inventory levels, mortgage rates and construction activity before investing in assignments. Properly reading conditions separates big profits from losses.

8 Insider Tips for Buyers of Assignment Sales

Follow these key tips to tilt the odds of success in your favor while buying real estate assignments:

1. Find Knowledgeable Agents – Seek out brokers specialized in assignments who can accurately assess risks and valuebased on deep market experience.

2. Inspect Properties Yourself – Do not rely solely on assignor representations. Visit personally whenever possible, even for pre-construction units, to verify conditions.

3. Verify Financing Pre-Approval – Confirm lenders will finance the property prior to closing. Also validate terms like rates and income requirements.

4. Examine Title Documents – Require title insurance listing you as the insured. Thoroughly review for past liens or future obligations impacting your rights.

5. Review All Contracts Extensively – Scrutinize original purchase and assignment contracts. Understand all timelines, contingencies, restrictions and fee clauses with no assumptions.

6. Model True Returns – Calculate accurate profits based on fees, taxes and financing costs. Do not rely on assignor estimates alone when negotiating.

7. Build In Exit Strategies – Structure contingent clauses allowing you to reverse the purchase if issues emerge later, like unsuitable inspection findings.

8. Complete Assignments Quickly – When selling rather than occupying, quickly flip assigned contracts again through silent sales before final closing to maximize gains.

Above all, exercise patience and only proceed with expert guidance when criteria align favorably with your investing goals.

Case Study – Leveraging Assignments for Short-Term Profits

Assignment sales offer particular appeal for real estate investors aiming to capitalize on market uptrends. As a case study consider Frank, an individual investor in Toronto, Canada.

Frank identified a pre-construction townhome development projected to complete construction within 12 months. The project had 66% of units pre-sold to individual buyers. Frank estimated 15-20% future appreciation given active homebuyer demand and tight resale inventory in the neighborhood.

He contacted agents to find sellers interested in assigning purchase contracts before closing. After offering 10% finder fees, agents located six investors seeking quick exits to cash in on valuation gains and upgrade units.

Frank negotiated a $92,500 purchase via assignment below the $102,800 prior sale price. Given the $10,300 appreciation and avoiding $7,500 upcoming closing costs, the effective discount totaled $25,600 (20% below true value).

By offering $2,000 assignments to agents, Frank quickly resold the unit rights six times across four months for between $115,000 and $118,750 per sale as values continued rising. After costs including taxes, Frank walked away with $43,050 profits from an initial investment of just $10,000 over five months for a 334% unleveraged return.

Potential Drawbacks & Risks Buyers Should Consider

Despite major upside, assuming real estate contracts through assignments also harbors downside dangers. As an educated buyer, consider these potential pitfalls:

Fickle Developers – Initial buyers violate resale clauses in purchase contracts. Reassignments depend on developers not exercising cancellation rights. Seek their formal approval.

Market Shifts – Unexpected housing plunges between purchase and closing can trap buyers in losses. Execute quick flips to avoid exposure.

Litigation Risks – Legal disputes between assignors and developers could later impact property. Prioritize title insurance with liability coverage.

Inspection Limitations – Buying unbuilt homes limits full unit inspection. Carefully assess pre-construction sites to gauge overall quality risks.

Financing Issues – Lenders scrutinize assignments more closely and can deny mortgages if risks appear concerning, leaving buyers cash-strapped at closing.

Buying an assignment contract is risky. But for informed buyers who safeguard their investments, leverage knowledgeable professionals, and remain vigilant regarding market conditions, it offers a path to achieve outsized profits unavailable to most real estate investors.

Critical Legal & Regulatory Considerations

Beyond risk factors directly tied to housing valuations also emerge legal and regulatory risks associated with assignments. Consider key legal elements buyers must navigate:

Contract Adherence – Breaching original purchase terms could void contracts. Strictly manage all dates, payments and requirements.

Funding Contingencies – Record escape clauses in case suitable financing gets denied unexpectedly at closing.

Disclosure Forms – Fully complete governing property disclosure paperwork to avoid future liability claims from developers or occupancy buyers.

Title Insurance – Obtain policies that explicitly cover interim liability arising between contract transfer points. Ask for gap coverage between transactions.

Tax Obligations – Declare and pay all taxes owed on profits per local and federal codes. In the US, capital gain taxes often apply on flipped contracts.

Consult real estate attorneys before buying assignments. As a high-risk endeavor for amateurs, legal pros prove instrumental to steering past pitfalls at each transactional milestones.

Key Takeaways – Should You Buy A Real Estate Assignment?

Assignment sales carry an alluring appeal. Discounts up to 20% on properties and equity gains attract buyers and investors eager to leverage real estate without excessive capital outlays. Yet unprepared buyers also risk major losses from complicated transactions.

When weighed carefully against individual risk preferences and guided by knowledgeable professionals, assignments can offer profitable opportunities unmatched by traditional channels. But small missteps compound quickly across the multiple sales required.

Ultimately by educating yourself extensively, thoroughly planning investments, accurately assessing housing markets, and paying for competent legal representation, you can maximize upside potential while minimizing unnecessary risks.

So while assignments merit caution, they can unlock immense wealth for disciplined investors. If you elect to pursue a contract sale, embrace the tips and best practices outlined above as an informed real estate buyer.

Everything You Need To Know About Assignment Sales

June 28th, 2022 / Investing

Housing is in critical demand in Toronto and the GTA, and builders are hard at work trying to keep up. With so much pre-construction happening, assignment sales are becoming more popular.

Assignment sales are an excellent vehicle for anyone who wants to break into the real estate market and is not in a rush to move. They can also be complicated to the point of intimidating.

This article will tell you everything you need to know about whether an assignment sale is right for you.

The first fact that might surprise you is that purchasing an assignment isn’t buying a property at all. You’re simply buying the contract, which gives you the right to purchase the unit once construction is complete.

Why Buy Pre-Construction In The First Place?

Who doesn’t love the idea of a brand new house where you’re the first person living there. Everything is spotless and pristine, and you have the latest technology in everything. It will be a long time before you have to worry about worn-out counters, floors or chipped paint.

In fact, it will be a long time before you even get to walk in the door, because the unit hasn’t even been built yet. Many pre-construction homes are sold before construction even starts!

I have helped investors buy and sell properties for years. Here are some of my other posts that you may find helpful:

Your Guide To Status Certificates
5 Reasons To Work With A Realtor® With Negotiation Expertise
My Real Estate Community Guides

Why Sell Your Assignment?

It can take years before you can finally move into a pre-construction home. During that time, a lot can change. You may find a new job in a different city. You could get married or divorced or start a family. Or perhaps you simply decide that you don’t want the unit anymore.

Some purchasers are investors who never intended to complete the transaction in the first place. The only intention was to sell the contract for a profit before the final construction is completed.

Whatever the reason, the condo no longer suits your lifestyle. Selling the assignment can give you the funds you need for your next step.

What Makes Assignment Sales So Complicated?

Traditional real estate deals involve only one transaction, which can get complicated enough. Negotiations take place between two parties, the buyer and the seller. Both sides want a fair deal, but rarely agree on what “fair” means.

With an assignment sale, there are two transactions to complete, the initial purchase of the contract and the final closing when the new owner can move in. Assignments also bring the builder into the mix, involving three parties in the transaction.

Every builder has different policies regarding assignment transactions. Some builders don’t allow them at all. Those that do allow assignments will have a list of guidelines you must abide by when selling the rights to the unit.

The Pros and Cons of Buying An Assignment

Buying an assignment has many advantages, including:

Eliminating the risk of cancellation. When you buy pre-construction, it can take years before the project even starts, and delays can happen. In the worst-case scenario, the project can get cancelled, leaving you to start over from square one. When you buy an assignment, you can get in closer to the completion date and you don’t have to wait nearly as long to move in.
Buying an assignment can save money . Since the market almost always rises in value, you’ll usually pay less when you buy your unit before construction completes.
You can sell your assignment at a profit . If property values rise significantly, you can consider reselling the assignment and taking the profit.
You get a beautiful, brand-new living space with a full Tarion warranty.

Of course, buying an assignment also comes with its share of challenges and risks.

You will need a significant amount of cash upfront. When you buy an assignment, the seller will want to recoup their full deposit, plus a profit as property values rise. You need to pay these funds upfront, and you can’t roll them into your mortgage. There will also be closing costs of 3-5% of the total sale price, which you will have to pay upon moving in.
Delays can still happen. You won’t have to wait as long as when you buy an initial contract. However, building delays can happen at any point during the construction. In the meantime, you’ll have to arrange for temporary accommodations while you wait.
You could lose money. If you’re buying an assignment as an investment, there is always a slight chance that the market could take a tumble. If you cannot carry the cost of holding the contract, you may have to sell it at a loss.
Developmental fees are in excess of closing costs . Plus, there may be a final portion of the deposit due on moving in.
For condo assignments, there are occupancy fees . This is similar to paying rent to the builder once the construction is complete and before the building is registered.
If you do not plan to live in the home, you will need to pay the HST. The builder will not be eligible to get the HST rebate if you decide to rent the unit as well during interim occupancy.
Your bank may not finance the entire purchase . Some banks appraise the home at the price the original owner paid. This could leave you with a larger portion to pay at closing that may not be covered by your mortgage.

The Pros and Cons of Selling An Assignment

What if you’re the original buyer and want to cash out of your investment? Selling an assignment also has its share of advantages and disadvantages.

The downsides of selling are a smaller pool of buyers due to the complexity and the amount of cash needed upfront. The rules around assignments can scare some potential buyers away.

Even if your original agreement allows for assignment sales, most builders still have to approve your transaction before you can continue. Once your assignment sale is approved, there are several advantages:

You will save on closing costs. Since you’re not moving into the unit, you won’t have to pay land transfer taxes and other closing fees.
You can earn a profit. If the market goes up after your initial purchase (as it almost always does), you stand to make a profit. As an investor, selling assignments allows you to earn money without the hassle of dealing with tenants.
Quick turnaround times and the opportunity to reinvest. Since you don’t have to wait until the building is complete, you can sell your assignment at any time and take the profit.

Assignment sales can be complicated but are a great way to get started in the market as a homeowner or an investor. Your best bet is to consult with a real estate agent with experience who can guide you through each step in the process.

Are you thinking about taking the next step as a real estate investor? Asking questions is always free. Reach out right here, and I will happily point you in the right direction.

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10 Essential Things to Know About Real Estate Assignment Sales (for Sellers)

— We take our content seriously. This article was written by a real person at BREL.

What’s an assignment?

An assignment is when a Seller sells their interest in a property before they take possession – in other words, they sell the contract they have with the Builder to a new purchaser. When a Seller assigns a property, they aren’t actually selling the property (because they don’t own it yet) – they are selling their promise to purchase it, along with the rights and obligations of their Agreement of Purchase and Sale contract. The Buyer of an assignment is essentially stepping into the shoes of the original purchaser.

The original purchaser is considered to be the Assignor; the new Buyer is the Assignee. The Assignee is the one who will complete the final sale with the Builder.

Do assignments only happen with pre-construction condos?

It’s possible to assign any type of property, pre-construction or resale, provided there aren’t restrictions against assignment in the original contract. An assignment allows a Buyer of a any kind of home to sell their interest in that property before they take possession of it.

Why would someone want to assign a condo?

Often with pre-construction sales, there’s a long time lag between when the original contract is entered into, when the Buyer can move in (the interim occupancy period) and the final closing. It’s not uncommon for a Buyer’s circumstances to change during that time…new job out of the city, new husband or wife, new set of twins, etc. What worked for a Buyer’s lifestyle 4 years ago doesn’t always work come closing time.

Another common reason why people want to assign a contract is financial. Sometimes, the original purchaser doesn’t have the funds or can’t get the financing to complete the sale, and it’s cheaper to assign the contract to a new purchaser, than it is to renege on the sale.

Lastly, assignment sales are also common with speculative investors who buy pre-construction properties with no intention of closing on them. In these cases, the investors are banking on quick price appreciation and are eager to lock in a profit now, vs. waiting for the original closing date.

What can be negotiated in an assignment sale?

Because the Assignee is taking over the original purchaser’s contract, they can’t renegotiate the price or terms of the contract with the Builder – they are simply taking over the contract as it already exists, and as you negotiated it.

In most cases, the Assignee will mirror the deposit that you made to the Builder…so if you made a 20% deposit, you can expect the new purchaser to do the same.

Most Sellers of assignments are looking to make a profit, and part of an assignment sale negotiation is agreeing on price. Your real estate agent can guide you on price, which will determine your profit (or loss).

Builder Approval and Fees

Remember that huge legal document you signed when you made an offer to buy a pre-construction condo? It’s time to take it out and actually read it.

Your Agreement of Purchase & Sale stipulated your rights to assign the contract. While most builders allow assignments, there is usually an assignment fee that must be paid to the Builder (we’ve seen everything from $750 to $7,000).

There may be additional requirements as well, the most common being that the Builder has to approve the assignment.

Marketing Restrictions

Most pre-construction Agreements of Purchase & Sale from Toronto Builders do not allow the marketing of an assignment…so while the Builder may give you the right to assign your contract, they restrict you from posting it to the MLS or advertising it online. This makes selling an assignment extremely difficult…if people don’t know it’s available for sale, how they can possibly buy it?

While it may be very tempting to flout the no-marketing rule, BE VERY CAREFUL. Buyers guilty of marketing an assignment against the rules can be considered to have breached the Agreement, and the Builder can cancel your contract and keep your deposit.

We don’t recommend advertising an assignment for sale if it’s against the rules in your contract.

So how the heck can I find a Buyer?

There are REALTORS who specialize in assignment sales and have a database of potential Buyers and investors looking for assignments. If you want to be connected with an agent who knows the ins and outs of assignment sales, get in touch…we know some of the best assignment agents in Toronto.

What are the tax implications of real estate assignment?

Always get tax advice from a certified accountant, not from the internet (lol).

But in general, any profit made from an assignment is taxable (and any loss can be written off). The new Buyer or Assignee will be responsible for paying land transfer taxes and any HST that might be due.

How much does it cost to assign a pre-construction condo?

In addition to the Builder assignment fees, you will likely have to pay a real estate commission (unless you find the Buyer yourself) and legal fees. Because assignments are more complicated, you can expect to pay higher legal fees than you would for a resale property.

How does the closing of an assignment work?

With assignment sales, there are essentially 2 closings: the closing between the Assignor and the Assignee, and the closing between the Assignee and the Builder. With the first closing (the assignment closing) the original purchaser receives their deposit + any profit (or their deposit less any loss) from the Assignee. On the second closing (between the Builder and the Assignee), the Assignee pays the remaining amount to the Builder (usually with the help of a mortgage), and pays land transfer taxes. Title of the property transfers from the Builder to the Assignee at this point.

I suppose it could be said that there is a third closing too, when the Buyer takes possession of the property but doesn’t yet own it…this is known as the interim occupancy period. The interim occupancy occurs when the unit is ready to be occupied, but not ready to be registered with the city. Interim occupancy periods in Toronto range from a few months to a few years. During the interim occupancy period, the Buyer occupies the unit and pays the Builder an amount roughly equal to what their mortgage payment + condo fees + taxes would be. The timing of the assignment will dictate who completes the interim occupancy.

Assignments vs. Resale: Which is Better?

We often get calls from people who are debating whether they should assign a condo they bought, or wait for the building to register and then sell it as a typical resale condo.

Pros of Assigning vs. Waiting

Get your deposit back and lock in your profit sooner
Avoid paying land transfer taxes
Avoid paying HST
Maximize your return if prices are declining and you expect them to continue to decline
Lifestyle – sometimes it just makes sense to move on

Cons of Assigning vs Waiting

The pool of Buyers for assignment sales is much smaller than the pool of Buyers for resale properties, which could result in the sale taking a long time, getting a lower price than you would if you waited, or both.
Marketing restrictions are annoying and reduce the chances of finding a Buyer
Price – What is market value? If the condo building hasn’t registered and there haven’t been any resales yet, it can be difficult to determine how much the property is now worth. Assignment sales tend to sell for less than resale.
Assignment sales can be complicated, so you want to make sure that you’re working with an agent who is experienced with assignment sales, and a good lawyer.

Still thinking of assignment your condo or house ? Get in touch and we’ll connect you with someone who specializes in assignment sales and can take you through the process.

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Raj Singh says:

What can be things to look for, especially determining market value for an assigned condo? I’m the assignee.

Sydonia Moton says:

Y would u need a lawyer when u buy a assignment property

Gideon Gyohannes says:

Good clear information!

Who pays the assignment fee to the developer? Assignor or Assignee?

Thanks Gideon 416 4591919

Melanie Piche says:

It’s almost always the Seller (though I suppose could be a point of negotiation).

Fiona Rourke says:

If there are 2 names on the agreement and 1 wants to leave and the other wants to remain… does the removing of 1 purchaser constitute an assignment

Brendan Powell says:

An assignment is one way to add or remove people from a contract, but not the only way…and not the simplest. Speak to your lawyer for advice on what makes the most sense for your specific situation. For a straightforward resale purchase you could probably just do an amendment signed by all parties. If it’s a preconstruction purchase with various deposits paid, etc it could be more complicated.

Katerina says:

Depends on the Developer. Some of them remove names via assignments only.

Haroon says:

Is there any difference in transaction process If assigner or seller of a pre constructio condo is a non resident ? Is seller required to get a clearance certificate from cRA to complete the transaction ?

Nathalie says:

Hello , i would like to know the exact steps for reassignment property please.

Amazing info. Thanks team. I may just touch base with you when my property in Stoney Creek is completed in. 2020. I may need to reassign it to someone Thanks

Victoria Bachlowa says:

If an assignor renegs on the deal and refuses to close because they figured out they could get more money and the assignment was already approved by the builder and all conditions fulfilled what can the Assignee do. I have $33,000 dollars in trust in the real estate’s trust fund. They sent me a mutual release which I have not signed. The interim occupancy is Feb. 1 and the closing is schedule for Mar. 1, 2019. I have financing in place, was ready to move in Feb. 1 and I have no where to live.

Definitely talk to your lawyer right away. They’ll want to look at your agreement of purchase and sale and will be able to advise you.

With assignment sales, there are essentially 2 closings: the closing between the Assignor and the Assignee, and the closing between the Assignee and the Builder. With the first closing (the assignment closing) the original purchaser receives their deposit + any profit (or their deposit less any loss) from the Assignee. Can I assume that these closing happen at the same time? I’m not sure how and when I would be paid as the Assignor.

What happens to the deposits or any profits already paid if the developer cancels the project after an assignment?

Hi, Did you get answer to this? I did an assignment sale last year and now the builder is not completing apparently and they are asking for their money back. Can they do that? After legal transactions, the lawyer simply said “the deal didn’t go through”. Apparently builder and the person who assumed the assignment agreed on taking out the deal. What do I have to pay back after it was done a year ago

This is definitely a question for your lawyer – as realtors we are not involved in that part of the transaction. I would expect that just as the builder would have to refund your deposits, you would likely need to do the same…but talk to your lawyer. As to whether the builder can cancel a project, yes they always reserve that right (but the details of how and under what circumstances would be in your original purchase agreement). It’s one of the annoying risks in buying preconstruction!

I completed the sale of my assignment in Dec 2015 however the CRA says I should be reporting the capital income in 2016 when the assignee closed his deal with the developer in July 2016. That makes no sense to me since I got all my money in Dec 2015. Can you supply any clarification on that CRA policy please?

You’d have to talk to the CRA or an accountant – we’re real estate agents,so we can’t give tax advice.

Hassan says:

Hello, You said that there are two closings. The first one between the assignor and the assignee and the second one between the builder and the new buyer (assignee). My question is that in the first closing does the assignee have to pay the assignor the deposit they have paid and any profit in cash or will the bank add this to the assignee’s mortgage?

The person doing the assigning usually gets their money at the first closing.

Kathy says:

What is the typical real estate free to assign your contract with the builder ?

Hi Kathy While we do few assignments (as they are rarely successful, and builders do not make it easy), in past we have charged more or less the same as we do for a typical resale listing. While there are elements to assignments that should be easier than a resale (eg staging), many other aspects of assignments are much MORE time-consuming, and the risk much higher since attempts to find a buyer for assignments are often unsuccessful. It’s also important to note that due to the extra complication, lawyer’s fees to assign are typically higher than resale as well–although more $ for the purchase side vs the sale side.

Mitul Patel says:

If assignee has paid small amount of deposit plus the original 25% deposit that the assignor has paid to the builder and gets the Keys to the unit since interim possession has been completed, when the condo registration is done and assignee is getting mortgage from the Bank or Pays the remaining balance to the Builder using his savings and decides not to pay the Balance of the Profit amount to Assignor, what are the possibilities in this kind of scenario?

You’d need to talk to a lawyer to find out the options.

David says:

How much exactly do brokers get paid at sale of Assignment? i.e. Would the broker’s fee be a % of your assignment selling price or your home’s selling price? I’m really looking for a clear answer.

I am using this website’s calculator associated with selling your home in Ontario. But there is no information on selling assignments. https://wowa.ca/calculators/commission-calculator-ontario

Realtors set their own commission, so there is no set fee- that website is likely the commission that that agent offers. We often see commissions of 4-5% for assignments. The fee is a % of the price of the assignment – for example, you originally bought for $500K; you’re now assigning for $600K – commission would be payable on the $600K.

Candace says:

Question: if i bought a pre construction condo, can i sell it as soon as it closes or do i have to live in it for 1 year after closing in order to avoid capital gains taxes?

Or does the 1 year start as soon as you move in?

I would suggest you talk to your accountant re: HST credit implications and capital gains, but if you sell it for more than you paid for it, capital gains usually apply.

You mention avoid paying HST when you assign your property. What is the HST based on? It’s not a commercial property that you would pay HST. Explain. Thanks.

HST and assignments are complex and this question is best answered specific to your situation by your accountant and real estate lawyer. In some cases HST is applicable on assignment profits – more details can be found on the CRA website here:

https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/gi-120/assignment-a-purchase-sale-agreement-a-new-house-condominium-unit.html

If you are a podcast listener, the true condos podcast is also a great resource.

https://truecondos.com/cra-cracking-down-on-assignments/

heres one for your comment, purchase pre construction from builder beginning of 2021, to be finished end of 2021, (semi detached) here we are end of 2022, both units are now ready. Had one assigned but because builder didnt accept within certain time frame(they also had a 90 day clause wherein we couldnt assign prior to 90 less firm closing date (WHICH MOVED 4 TIMES). Anyrate now we have a new assinor but the builder says we are in default from the first one and wants 50k to do the assignment (the agreement lists the possibility of assigning for 12k) Also this deal would include us loosing our whole deposit and paying the 12k(plus fees) would be in addition too the 130k we are already loosing. The second property we are trying to close but interest rates are riducous, together with closing costs(currently mortgage company is asking that my wife be added to that one, afraid to even ask this builder. Any advice on how to deal with this asshole greedy builder? We are simply asking for assignment as per contract and a small extension for the new buyer(week or two) Appreciate any advice. Thank you

Dealing with builders/developers can be extremely painful, much worse than resale transactions in our experience. Their contracts are written to protect THEM. Unfortunately all I can say is follow the advice of your lawyer.

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Is Buying Assignments the Key to Mastering Your Education?

In the modern world, the pursuit of academic achievement often leads many students to a crossroads where they must decide between handling their educational responsibilities on their own or seeking external assistance. One such form of assistance is the option to buy assignment. This practice has been a topic of debate among educators, students, and [â¦]

In the modern world, the pursuit of academic achievement often leads many students to a crossroads where they must decide between handling their educational responsibilities on their own or seeking external assistance. One such form of assistance is the option to buy assignment . This practice has been a topic of debate among educators, students, and parents alike, with some seeing it as a necessary tool to manage overwhelming academic pressure, and others viewing it as detrimental to the learning process. This article aims to delve deeper into this contentious issue by examining the pros and cons of buying assignments, how it impacts learning and skill development, its effectiveness in time management, and how it could potentially lead to mastering education.

Pros and Cons of Buying Assignments for Academic Success

The decision to buy assignments is influenced by several factors, each with its own set of advantages and disadvantages. To make the most informed decision, it is essential to weigh these aspects carefully.

One of the major advantages of buying assignments is that it saves time. With numerous academic tasks, extracurricular activities, and personal commitments, students often find themselves stretched thin. Buying assignments offers a much-needed respite from this relentless pressure, allowing students to focus on other crucial areas of their education.

Furthermore, it allows students to maintain a consistent academic record. Professional writers, with their expertise and experience, can produce high-quality assignments that meet the stringent criteria set by educational institutions. This ensures a steady flow of good grades.

Lastly, for students who are not native English speakers or struggle with particular subjects, buying assignments can help bridge the gaps in their understanding and language proficiency, leading to improved academic performance.

Despite the apparent advantages, buying assignments also has its downsides. One significant concern is the potential for academic dishonesty. Buying assignments can blur the line between original work and plagiarism, which could lead to severe penalties if discovered.

Secondly, it may hinder the development of essential skills. Assignments are designed to enhance critical thinking, problem-solving, research skills, and writing proficiency. By buying assignments, students may miss out on opportunities to hone these skills.

Lastly, it could lead to an over-reliance on external help. If students get accustomed to buying assignments, they may struggle to handle academic tasks independently in the future.

The Impact of Buying Assignments on Learning and Skill Development

Buying assignments can have profound implications on a studentâs learning process and skill development. On one hand, it can provide a model for students to learn from, especially if they struggle with a particular topic or assignment format. On the other, it might create a risk of students becoming passive in their learning process.

Seeing a well-written assignment can provide a student with a clear understanding of what is expected in terms of content, structure, and writing style. It can serve as a learning tool, much like a sample or a model, which they can refer to when working on their assignments.

However, the convenience of buying assignments can also lead to complacency. Thereâs a danger that students might start to bypass the learning process that comes with struggling through an assignment, thereby hindering the development of research skills, critical thinking, problem-solving abilities, and writing proficiency.

Therefore, while buying assignments could offer immediate academic relief, it may not necessarily contribute to long-term learning and skill development.

How Buying Assignments Can Support Time Management in Education

Time management is a critical skill in education. With the increasing academic pressure, students often find it challenging to juggle their coursework, extracurricular activities, part-time jobs, and personal life. Buying assignments can act as a time management tool, helping students balance their responsibilities more effectively.

By delegating some of their assignments, students can free up time to focus on other academic tasks that require their attention. It allows them to prioritize their workload, dedicating more time to complex tasks or subjects they find challenging.

Moreover, it can provide students with the opportunity to engage in extracurricular activities, pursue hobbies, or simply relax and rejuvenate. This balance can contribute to better mental health, preventing stress and burnout.

However, itâs important for students to remember that buying assignments should not become a crutch, but rather a tool used sparingly to manage high-pressure periods effectively.

Overcoming Challenges through Buying Assignments: A Path to Mastery

Buying assignments can be seen as a pathway to mastering education, provided it is used judiciously and responsibly. It can help students overcome challenges, maintain a consistent academic record, and manage their time effectively.

However, it is imperative to understand that the ultimate goal of education is to foster learning and skill development. Therefore, while buying assignments can act as a temporary solution to alleviate academic pressure, it should not replace the process of learning.

Buying assignments should be viewed as a supplementary tool, used in conjunction with traditional learning methods. It can provide a safety net during high-stress periods, but students must also make the effort to learn from these assignments, enhancing their understanding and skills.

In conclusion, buying assignments can be a key to mastering education if used strategically and ethically. It offers numerous advantages such as time management, consistency in grades, and help with challenging subjects. However, it also has its disadvantages such as potential academic dishonesty and hindrance to skill development. Therefore, the decision to buy assignments should be made carefully, considering all pros and cons, and always keeping in mind the ultimate goal of education learning and skill development.

Disclaimer:

This article does not endorse the views of Qrius and/or any of its staff. Plagiarism is a serious offense that could lead to expulsion from university or student termination.

The information, including but not limited to, text, graphics, images and other material contained on this website are for informational purposes only.

Qrius does not recommend or endorse any specific tests, physicians, products, procedures, opinions or other information that may be mentioned on this website. Reliance on any information appearing on this website is solely at your own risk.

Qrius and/or any of its staff is not liable for the advice provided in this article and consumer discretion is advised.

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Buying Condos on Assignment — A Quick Guide

Buying condos on assignment is becoming the norm in the real estate business. Investors use this strategy to purchase a condo cheaply and sell before closing to maximize profit. Understanding what a condo assignment is can be difficult, especially for newbies in the niche. Our team will discuss condo assignments and what you need to know before diving in to your next investment.

What Is a Condo on Assignment Sale?

A condo on assignment sale is a written document issued to the purchaser of a pre-construction condo unit from the builder or an investor intending to sell. This agreement indicates that since the building hasn’t been officially registered, no one can take possession of the condo unit. However, you are allowed to sell the agreement to an interested buyer before the building is fully registered.

You will only get full ownership of the building after the final closing date – the period when the property title will be transferred to you. Once the property has become registered, you can sell the property and the title. It’s after the closing date that you will begin your mortgage payment.

Remember, the condo unit isn’t officially yours, even after making your down payment. You will only get a condo assignment sale as proof of your down payment and not the property’s title until after the closing date.

Why Purchase a Condo on Assignment?

There are reasons why buying condos on assignment is a familiar strategy investors and realtors use these days. If you already bought a pre-construction condo, you can maximize profit before closing and registration by selling the contract to another buyer. This is called “flipping.”

If you also have to relocate or out of cash, you can sell the contract to an interested buyer and get your money. Here, the agreement can protect you from accruing further costs.

Another reason to purchase a condo on assignment is that you’ll be buying at a price less than the market value when it’s completed.

Important Factors to Remember

When buying a condo on assignment, you need to keep the following factors in mind.

You will be liable to pay taxes, such as Land Transfer Tax and other legal fees after the final closing date. Our experts recommend that you employ the services of a tax advisor for proper guidance.

Down Payment

Buying a condo on assignment sale demands that the builder collects a down payment from you. The deposit structure varies from builder to builder and the current phase of the building construction, but the typical range is between 15% – 30% of the total price of the building.

The builder must approve all the transactions regarding assignment sales. Some builders may not approve until the date of assignment sale is near the final closing date to avoid any confusion on whose name the property will be registered to.

You are mandated to provide Proof of Sufficient Funds to show that you can pay for the purchase before the builder can issue the contract. The remaining amount after the initial down payment is paid in the form of a mortgage.

The builder automatically assumes that you are using your condo as your primary residence after registration. Therefore, you become obligated to assign the HST Rebate entitlement to the builder.

Real Estate Broker

You need the help of a professional and seasoned real estate broker to help you with the transaction and ensure that it goes smoothly. This is because the paperwork involved is relatively complicated, and many agents or real estate brokers may not fully understand how condo on assignment sale works.

Closing an Assignment Sale

When buying a condo on assignment sale, you will be responsible for closing costs once the builder registers the building. These costs include Land Transfer Tax, Utility Connection Fees, Development Charges, etc. [1] However, you are exempted from HST if you plan on using your condo as your primary residence.

When purchasing a condo on assignment sale, you need to take note of the following:

Assignment closing date (when the transaction is completed)
Occupancy closing date (the first date when the builder hands over the keys to the purchaser)
Final closing date (when the title of the property is transferred to you)

How do you buy an assignment for a condo?

To buy an assignment for a condo, you must be ready to purchase one of the pre-construction condo units from the builder. Afterward, you can request an assignment from the builder, showing that you own one of the units.

How does a condo assignment work?

A condo assignment transfers partial ownership of the building from the builder to the buyer. When buyers decide to purchase a pre-construction condo unit, they agree with the builder, signifying partial ownership.

When buying condos on assignment, it’s vital that you go through all these factors, as explained by our real estate experts, to avoid any complications, especially during the closing dates. An error could jeopardize your chances of buying a pre-construction condo, so take your time while going through the transaction.

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What Are The Pros And Cons Of Buying Assignments Online?

January 29, 2024

Introduction:

With the ever-changing dynamics of education, many students are seeking help by buying assignments online. However hiring such services has its benefits and limitations but in most of cases, they are seen as a blessing in disguise. In the guide, we will have a deeper look at both sides of the coin.

Advantages Of Buying Assignments Online:

1) time-management:.

It is a proven fact that student life is all about completing never-ending assignments. This is the reason many students struggle to manage their time effectively. Therefore one of the primary advantages to buy assignments online is the time-saving aspect. With the best assignment help students can focus on other commitments without worrying about the ‘due date’.

2) Access To Expertise:

Professionals from the assignment writing services are experienced and qualified writers. This provides students with the opportunity to gain insights from them on how to conduct research or craft academic papers. This expert help can lead to improved overall performance.

3) Customization:

One of the golden perks of buying assignment help online is personalized support. Students can provide them with specific guidelines and viola the work would reflect the student’s voice.

4) Reduced Stress:

The unrealistic expectations from students to excel in every domain of life such as academic, job, or personal might be too overwhelming. The constant state of worry and anxiety might take a toll on mental health. This is the reason many seek help from cheap assignment writing services.

5) Learning Resources:

Through the aid of the best assignment help, students can examine the work written by professionals. By doing so they gain insights on effective structuring, research methods, and writing styles.

6) Diversity Of Perspectives:

With the help of cheap assignment writing services, students can learn about the different perspectives of expert writers. This broadens their vision and allows them to view the topic of the essay from different points of view.

Disadvantages Of Using Online Services For Assignments:

1) academic integrity:.

One of the primary reasons to assign students tasks is to improve their research and writing skills. Professors expect their students that the work they will submit will be done by them. However, at the moment when students buy assignments online, many academic principles are violated.

2) Risk Of Plagiarism:

With assignment help online the one risk which is always associated is receiving work that might be copied from someone’s work. This act known is plagiarism, is a serious academic offense. Many institutions have strict policies against it and if students are caught submitting such work they might face severe consequences which vary from course failure to expulsion.

3) Limited Understanding:

Education goes beyond just completing the work, it is also the process of acquiring knowledge and developing critical thinking. However, when students buy assignments online the aim of learning new facts is diminished.

4) Financial Burden:

Many best assignment help have extremely high charges which is out of budget for them. This is the reason why many students are not able to afford such writing services. In addition to that, there are various scams that either the work is not provided on time or the quality is extremely poor. Such scams make the financial conditions worse for students who already have tight budgets.

5) Inconsistency In Quality:

Even after choosing the same service provider for different assignments, results in inconsistent quality of work. This could be due to the mental fatigue of the writer, time constraints, or external distractions.

6) Dependency On External Resources:

While seeking help from online assignment services can be a viable solution during challenging circumstances, excessive use can cause more harm than good. Such reliance can hinder the academic as well as personal growth. Students are not excited to complete their work and just buy assignments online and submit them without even reading them.

How To Filter Out The Best Online Assignment Services?

1) expertise of writers:.

Before locking any assignment help online, cross-check the credentials and the years of experience professionals have. The people who will work on the assignments must have a strong grip on the subject matter.

2) Transparent Policies:

One of the easiest ways to evaluate the best assignment help is by checking their policies. Take a thorough look at the revision, refund, or plagiarism policies. Furthermore, read their terms and conditions thoroughly to avoid any miscommunication later on.

3) Legal And Ethical Standards:

It is important that the cheap assignment writing service you are opting for adhere to the ethical and moral boundaries. Ensure that from where you will buy assignments online maintain academic integrity, avoid plagiarism, and maintain a professional attitude through the writing journey.

4) Security And Confidentiality:

Verify that the service provider has secure payment methods to protect the financial information. In addition to that examine their confidentiality policies and what steps they have taken to protect the sensitive data and details secure and protected.

5) Turnaround Time:

Evaluate the timeline at which assignment help online would provide the work. It should be realistic while also leaving enough time for necessary revisions. If some service provider claims that they will provide work within a few hours, then it is a red flag. The reason behind this is that they would just give pre-written generic work.

6) Communication Channels:

While filtering out the assignment help online, test how well they respond to the concerns and queries of the client. A reputable service provider who prioritizes the client’s satisfaction would promptly reply. Furthermore, also check how active they are on their social media pages which would help you to have effective communication with the team.

Conclusion:

To summarize, with time the method of seeking help for completion of assignments is also changing. Many students get help for writing services from Quick Edu Help . However such services come with their costs and benefits. While opting for them, it is essential to strive balance between pros and cons for making informed decisions. To select the most appropriate one which meets the academic standards you have to follow certain guidelines.

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Pros and Cons of Assignment of Contract

Post author By Ana Hernandez
Post date November 4, 2020

The most attractive thing about wholesaling as a real estate investment strategy is that you can do it with no money of your own and none of the headaches that generally come with owning a property.

There are two ways to wholesale real estate: double-closing and assignment of contract. We covered the down and dirty of double-closing a few months ago, but now let’s take a look at the pros and cons of wholesaling using the assignment of contract method.

What is Assignment?

An assignment of contract is when a wholesaler enters into a purchase agreement with a seller, giving them the right to sell the contract to a buyer for a fee. The good thing about this is there’s no capital gains tax involved (but you still need to pay about 30% ordinary income tax, depending on your tax bracket, if you’re holding it for less than one year).

Assignment is cheaper than double-closing: Because there’s only one set of closing costs to pay, this is the most cost-effective wholesaling method.
It’s a good selling point: You can negotiate a better price from sellers by assuring them that it will be a smooth and easy transaction, you will cover all their closing costs, pay off their lenders, and then deliver their remaining profits to them.
It’s simple: You find a buyer, sign an agreement, put the ‘earnest money’ into escrow, then step back and let the deal go through. It’s also easier to explain to titles companies than a double-closing, if the company you’re using isn’t experienced in wholesale deals.
Assignment can be done quickly: The process doesn’t require much time from your end – often just the amount of time it takes you to market and find a buyer. Because there’s only a single closing, that part of the process is usually faster than with double-closing, also.
It can create opportunities for repeat business: If done right, this can allow you to establish a relationship with the buyer and do repeat business with them over time. The most important thing here is to remain transparent, so that all parties are aware that you’re making money and are bringing value to the deal, whereas this is less clear with a double-close.
Your assignment fee is visible to all: One of the cons about this arrangement is that your fee will appear on the settlement statement. As we said, this kind of transparency can help you form lasting business relationships with your buyers, but it also can make some buyers and sellers wary. If you’re making a hefty sum, the seller might be taken aback or begin to rethink whether they’re getting a good deal or being ripped off by you. By the same token, buyers might think they could get a better price elsewhere, so it’s possible either party could try to back out of the deal once they realize you’re making money off of the transaction.
State legalities could be an issue: Realtors lobby hard to keep laws tight against wholesalers so they can avoid losing business in their respective states, so you need to remain vigilant and politically active to safeguard your rights and your business.
It can limit your options: You need to verify with your buyer if they intend to pay in cash or use bank financing. Keep in mind that some properties, like short sales and bank-owned homes, can have no-assignment clauses in place, which means you can’t use this method to wholesale these properties.

Assignment of contract is a good way to approach wholesaling if you’re looking for quick, relatively easy transactions and the opportunity to develop long-term relationships in the industry. However, this method might not be the best for those who want to make large profits off of each deal they do, as it can put off buyers and sellers alike. A good rule of thumb is to use assignment only if you’re making less than $10k off a deal, and to always be upfront with all parties about your fee and the benefits you bring to the table in exchange for this fee.

Ultimately, the efficiency of assigning a contract means that you can complete more transactions in a shorter period of time, which can make up for the fact that your fee will be smaller than in a double-close scenario. If you’re uncomfortable with the idea of being transparent about how much you’re making, or if you want to get bigger returns from each deal, then opting for a double-close is probably the better choice.

Image Courtesy of Cytonn Photography

Tags Assignment of Contract , Real Estate Investment , Wholesale

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What are The Advantages and Disadvantages of Buying Essays?

Students often feel like they are doing a lot. They are expected to complete several tasks within a short time. In universities and colleges, you will find students of different backgrounds. Some can easily afford things, while others work twice as hard to get them. Such cases always lead students to seek jobs outside school hours to supplement their needs. It’s the reason why learners fail to submit assignments on time.

Lecturers always deal with such cases almost every time. Some students will do it when they are told to write an essay on a particular topic. Others will seek help somewhere else. There are many reasons for this decision: for example, a person does not have writing talent or simply does not have time to write a paper. In such cases, students often buy essays from Papersowl , an online platform with professional writers. This is a time-tested platform, so customers are guaranteed quality paper just in time. With that said, let’s find out some advantages and disadvantages of getting help from such services.

You can enjoy some advantages by buying essays. However, before spending your money, ensure you know what you are getting into. Some students end up becoming victims of scams without knowing. That said, you can still benefit from buying essays in various ways. Below are some of them.

You Will Have More Free Time

For a college student taking some of the toughest courses in school, there is always a bit of pressure that comes with it. As mentioned before, you will need to work on tasks and ensure that you complete them by the next lecture. It can sometimes be quite stressful and tiresome. Some students even give up on the course when they feel the pressure is too much to bear. You don’t have to worry if you are in such a situation. Some professionals can help you. There are several online platforms where you can get such services for a small fee. You can use this opportunity to work on other assignments, read, or even hang out with friends.

You’ll Not Miss the Deadline

If you have decided to buy essays online, one thing you can be sure of is that you will never miss deadlines. When dealing with online essay writers, all you have to do is give them a due date that you are comfortable with. You should also consider the time for making corrections before submitting the assignment. It is important to let the writers know the duration for which the essay should be completed. This is before you allow them to start working on it. They should accept the job if they are comfortable with the timeline.

A Specialist Performs Your Work

When buying essays, purchase them from reliable and well-trusted platforms. They always thoroughly screen the people they allow to write for them. These online platforms ensure their employees are well conversant with various topics. It can be well taken care of if you have the assignment to write an essay on something related to music, arts, health, sports, or business. With good writing platforms, you will get the best candidates to work on your assignments. You can be sure of good quality work with fewer or no mistakes. This will also save you time since you won’t have as many revisions and corrections to do due to plagiarism.

You Will Get a Good Grade

As mentioned above, ensure you get your essays from a trustworthy site. Before getting down to business with any platform, find out what people are saying about it. If you find one that has good reviews, you are most likely going to love their services as well. When you work with professional writers , you will get a good grade on your essay when you work with professional writers. The work produced is often unique and without mistakes. Writers understand the topic well and will write to the required standards. This will give the marker an easy time going through your essay and thus award you a good grade.

Disadvantages

You can also face some challenges when you decide to buy essays online. Let’s see some of them.

You Need To Spend Money

In this day and age, it is quite difficult to find someone who will offer professional services for free. You must part ways with a few bucks in almost every situation to enjoy certain services. The writing industry is no exception. The rates can even increase depending on how you want the assignment done. The number of words required and the format of the essay can determine how much you will pay.

It’s Hard To Identify A Good Company

With so much scamming going on the Internet, it can be a challenging task to find a good writing platform. Some people can claim to be offering the best services, only to find out that you’ve been duped after spending money on them. Do your due diligence before settling on a particular writing platform.

Wrapping Up

Buying essays can have pros and cons. However, you won’t face many challenges if you are keen enough. You only need to know what kind of writing site you are dealing with. You must understand the essay’s requirements before you let someone else work on it. It will help you to give clear instructions to the professional writer you choose. You can also work on the essay yourself when the writer is not able to complete it and there isn’t much time left.

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Advantages & Disadvantages of Assignments for Students

According to an article published by the U.S. News, a teacher assigns more homework than the students can handle in one night. While homework is super essential for the holistic development of a child, it comes with various drawbacks. Therefore, in this article, we shall talk about the pros and cons of assigning homework.

Pros of Assigning Homework

Written below are all the reasons why homework should not be banned from schools.

Minimizes Screen Time

Without any task or homework, students spend around eight hours using their mobile phones. It is more than the recommended average time of three hours. It further results in laziness and also harms the eyesight. Homework inculcates better long-term habits.

Improves Time Management Skills

Every profession requires time management skills. With these skills, students finish the task in a given slot of time. When a student doesn’t know how to manage time, it becomes impossible to efficiently utilize each hour.

Improves Critical Thinking in Students

Working on different assignments after school helps in improving the critical thinking skills of the students. Besides, it also improves the memory of the individual.

Develops a Sense of Independence

Most of the time, students want to attain more freedom and independence. When they are assigned homework, they tend to work off their own bat and explore their strengths and weaknesses. Thus, homework instills a sense of independence and helps a child grow.

Sparks Enthusiasm

In addition to this, homework sparks enthusiasm if the topics are interesting and relevant. It further motivates the students and encourages them to learn something new. Besides, when encountering new topics, students tend to take help from their parents or peers, sparking new connections.

Cons of Assigning Homework

Students all over the world feel pressured when they have a lot of work to do. They believe that the extra work is unfair and doesn’t help in their personal growth. Apart from that, it is also said that homework should only take thirty-forty minutes of their time after school. Here are all the cons of assigning homework.

No Free Time at Home

After spending 7-8 hours in school, extra work at home takes around two hours on average. Thus, homework feels more like a punishment than learning something new. Children can utilize the same playing a sport that they love or indulge in other favorite hobbies. It helps the child feel more in control of his life besides helping him find his purpose on this planet, which homework alone won’t help.

Homework and assignments do not help in grades but put more pressure on exams or tests. To complete the homework, the students miss out on revisions and perform badly in tests or exams. They usually don’t know about the possibilities online services give them. Don’t miss your chance to get assistance with online classes, homework assignments and exams at myhomeworkdone.com . Their team consists of just the best experts who are ready to help you 24/7.

Adverse Effect on Mental Health

Extra work after school harms a child’s brain and overall mental health. Most of the time, teachers fail to realize this and keep piling students with extra work.

Challenging Tasks

Some students find it difficult to balance their personal and professional lives when required to submit assignments after school is over. They are quite tired by the end of the day and have zero energy. Moreover, they cannot even take a break to relax for a while.

Lack of Support

Sometimes it is difficult for students to work on their own. It can be due to the lack of resources of support from their parents or guardian. Therefore, the lack of resources demotivates the child, and he may not even turn in the assignment.

Irrelevant Tasks

Homework that has nothing important to do with the topic of a subject only wastes the students’ time. Besides, after assigning irrelevant topics, the teachers should not expect excellent work since students have no clue what the topic is about.

Final Verdict

Since there are several advantages and disadvantages of homework, it is quite difficult to decide if they should be assigned or not. Even if teachers assign tasks to the students, they should be given enough time to complete it.

10 Disadvantages of Assignment Writing Task And How You Can Workaround It

Speaking of student life, homework and assignments are assumed to be an integral part of the same. They hold as much significance as does the exams. Different universities have different mandates around assignment writing. And, universities in and around Australia give them due to significance. As a consequence, bachelors and masters students, need to work on regular assignments.

Before we even begin to discuss the fear that the task brings along, we need to first understand its significance in the education system.

Assignment writing allows students to identify a topic and work around the same. Giving them an opportunity to attain a better understanding.
They need to research and bring about relevant information to prove a hypothesis. Whereby, giving them an opportunity to enhance their research skills.
In this virtual world, we have lost touch with our writing skills. And, assignment writing task provides us with the perfect scope to brush those skills.
It helps us to build concepts and be better prepared for the examination
The task motivates students to focus on a given topic and work around the same

This is why the task holds due relevance and it is mandatory for the students to work on assignments, during the course of their college education.

Universities in Australia offer a great educational ecosystem for the students. While they offer great infrastructural facilities and expertise, it is the students that make the system great. And, this collaborative effort by the administration, the teaching faculty, and students are what acts as a great motivator for thousands of new students; who join the universities every year. While they feel proud to associate with some of the renowned universities in the world, to complete their college, the effervescence dies down shortly. This is all because of the overwhelming expectations. From succeeding in their studies to taking time out for families, to excelling in a sport; it becomes a tad too much. Each student comes along with a background of aspirations and limitations. Some have family issues, while others deal with financial constraints. And, to deal with this overwhelming pressure of assignment writing, only adds to the pressure.

Students are tied to a lot of things, like regular homework and family requirements
They deal with financial concerns and need to work part-time/evening hours
Most of them are not thorough with research work
Some are simply not good at the subject
They have no interest in assignment writing
Someone wants to dedicate time to a sport or practice music
Others are more keen on the practical aspects like an internship
They do not understand the university guidelines for assignment writing. Itâ€™s too complicated for them.
International students are not well versed with the language and accent
They deal with the overwhelming pressure of competition, the need to excel, and deal with anxiety or depression

These could only be some of the concerns that become a roadblock to the task of assignment writing. Moreover, this is a well-known fact that every student might not be interested in working on a given topic, he/she might be keener towards a different niche. It could also be possible that they are pursuing the course due to some other reasons like the family business, unavailability of the seat in course of choice, etc. Under all such scenarios, when they are given a deadline for the task of assignment writing, they begin to stress out. Studies have revealed that at least 40% of college students deal with varying levels of stress and anxiety. Their performance in the examinations and these very assignments, make them fear competition.

Assignment writing services offer professional expertise for assignment writing, to keep students out of this trouble. Students can research on various web portals or take feedback from seniors or peers to choose the best assignment services, team. Someone where the experts hold a lot of experience and where they have already helped thousands of students to fetch the top scores. While there are many service providers who offer these assignment help services, it is only a chosen few who extend the best quality.

Students must lookout for someone who offers the best assignments at the most affordable charges. Other significant aspects are:
Sticking to the discussed deadline
Being available to resolve any queries that the student might have, 24*7;
Offering free samples so that one gets a fair view of the process, depth of research, expertise on the subject, the format of the assignment
Someone where the team of experts understands the basic guidelines shared by different Australian universities
Where the team is adept at Australian English, which will be the basic language of assignment writing

While assignment writing task can be a tedious one, it surely adds to oneâ€™s learning. While students can get their assignments worked upon by professionals, they must get a thorough understanding of the topic. An assignment that uses simple language and is comprehensively put together, will most certainly provide them with this opportunity. They can clear their concepts and score good grades in the examination.

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The Advantages of Buying a Condo on Assignment

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Buying a condo on assignment is increasing in popularity as more buyers become educated on the advantages of taking this route to condo ownership in Toronto. We’ve processed countless assignment sales and have many happy buyers and sellers among our clients. How can buying on assignment benefit you? Let’s take a look at why so many people are using this strategy.

What is a pre-construction condo assignment sale?

The purchaser of a pre-construction condo investment will sometimes choose to sell their contract with the builder before they officially take possession. Because they don’t yet own the condo itself, they are selling their Agreement of Purchase and Sale with the builder to a new buyer. This type of transaction is referred to as an assignment sale .

Assignment sales usually take place if the original purchaser’s financial situation has changed, if they’ve had a change of heart, or are simply looking to “flip” the property . Flipping pre-construction condos can be a strategy some investors use to avoid paying closing expenses and cash out before registration, making a profit on their original investment.

Educated buyers and realtors know that when purchasing a pre-construction condo, an assignment clause should always be requested. By having this in your Agreement of Purchase and Sale, you are able to then consider selling your unit on assignment. You will still need builder approval, but this will already be built into your contract.

Advantages of Buying a Condo on Assignment

You can purchase a new condo for less.

By buying a new condo on assignment you’re likely purchasing a product that’s been sold out for quite some time, at a price that’s likely no longer available. The price per square foot should ideally be less than today’s pre-construction prices. Not only are you able to get a brand-new condo but you’re able to get it for a price that no longer exists in today’s market.

Buying on Assignment Gives Buyers the Advantage

After construction it’s not abnormal for investors who want to cash out quickly, to sell before they take possession. What this does is create a massive amount of inventory in a building, which means buyers have more choice at a time when the building is still a work-in-progress. Additionally, investors are motivated to negotiate because they want out of their contract prior to the condo’s registration date, especially if there’s lots of inventory.

Built-In Equity

One of the reasons why buying a pre-construction condo is so appealing is the ability to build equity as the condo is being constructed. When someone is selling a condo before closing, they are typically leaving some of the equity that the condo has earned on the table for you to inherit.

Toronto’s condo market has remained strong and condos, even pre-construction condos, are generating significant equity each year.

Keep These Things in Mind When Buying on Assignment

Agreement of purchase & sale cannot change.

When buying a condo assignment, you are inheriting the contract from the original purchaser as it already exists. It’s important to have your lawyer review the contract but note that the terms the Assignor agreed to are no longer negotiable.

Payment Structure

A typical deposit structure for a pre-construction condo is 15% to 20% spread out over a couple of years – the varies from developer to developer. Depending on what phase the building is in when you purchase the assignment, you will pay the Assignor the deposits they have already paid to date. The remaining balance will be paid to the builder. Overall, this could be 15-20% up front.

In rare instances, you can purchase an assignment with as little as 5% down depending on what the Assignor’s terms are. By putting less money down, the Assignor has to wait until registration to receive their profits. Although this is not the norm, the likelihood increases as the registration date nears and the building is almost complete.

Closing Costs

When purchasing a condo assignment, you will be responsible for all the closing costs when the building is registered with the city. Closing costs include Land Transfer Tax, Development Charges, Utility Connection Fees, HST and any legal fees. It is also at registration that your mortgage will officially begin.

Keep in mind, you are completely exempt from HST on a pre-construction condo if you plan to use the property as your principal residence. Investors who are leasing their condo will need to pay HST upfront. Your lawyer can file for a full HST rebate, refunded approximately 4 to 6 weeks later, provided you have a one-year lease in place.

Use a Seasoned Real Estate Broker

Using a broker who is seasoned and well-versed in assignment sales will help your transaction go smoothly. The same with your lawyer and mortgage broker. The paperwork involved with an assignment is a bit more complicated than your standard real estate transaction. Many agents and even real estate lawyers are not familiar with this type of sale, so make sure you use an agent who’s familiar with how to complete an assignment sale.

Customizing Your Unit

Depending on the timing of the assignment, you may be able to select your own finishes. The builder contacts the buyer typically one year prior to completion for these custom details.

Buying on assignment can provide many benefits. You’ll be able to get into a brand-new building, possibly customize your suite and realize equity upon registration. You’ll also benefit since your money is not tied up for years in a pre-construction condo purchase and get a short closing without having to wait. They also get convenience and luxury of buying brand a new unit and often pay lower maintenance fees. So don’t shy away from assignment sales – just make sure you’re working with a broker who has an exceptional track record of successful transactions.

If you’d like to see our top picks for available assignment sales, simply fill out the form below – we’ll be in touch right away.

Comment by CJ | on October 12, 2020 at 5:13 pm

Great article. Been looking to buy assignment sale, Price jumped up by $180,000 since original pre construction price in 2016 . Agents tell me, market went up. My argument is, I’m buying original buyers contract, condo hasn’t closed, therefore, I’m prepared to offer same price. I’m a wrong in this?

Comment by Arielle Nemo | on November 11, 2020 at 3:37 am

Good to sharing I have read this post and in this post i got so many knowledge. Thanks for the posting.

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Comment by Zoe Campos | on November 19, 2020 at 8:44 am

Thanks for reminding me to have a legal expert review the contract first before buying any properties. I am thinking of purchasing a condominium around Brooklyn, NY, and turn it into a rental property, but I’m not sure about my first step yet. Maybe it would be better to consult a property management expert who can help me with the process and look for tenants afterward.

Comment by Arielle Nemo | on January 6, 2021 at 8:38 am

Appreciate your sharing, great article post. Keep on updating these kind of informative things.

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Comment by Roslin Smith | on January 11, 2021 at 7:56 am

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Comment by Roslin Smith | on February 15, 2021 at 10:33 am

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Advantages and Disadvantages of Assignment Method Of Teaching

Looking for advantages and disadvantages of Assignment Method Of Teaching?

We have collected some solid points that will help you understand the pros and cons of Assignment Method Of Teaching in detail.

But first, let’s understand the topic:

What is Assignment Method Of Teaching?

The Assignment Method of Teaching is when teachers give tasks or projects to students. These tasks help students learn and understand lessons on their own. They can work alone or in a group. This method makes learning more interesting and practical.

What are the advantages and disadvantages of Assignment Method Of Teaching

The following are the advantages and disadvantages of Assignment Method Of Teaching:

Advantages of Assignment Method Of Teaching

Promotes independent learning – Assignment method of teaching encourages students to study and learn on their own, fostering self-reliance and self-learning.
Enhances critical thinking – This method also helps in developing critical thinking skills as students analyze and interpret the information themselves.
Encourages research skills – It promotes research skills as students have to dig deeper into topics and gather information from various sources.
Fosters time management – It aids in honing time management skills as students need to plan and complete assignments within a set timeframe.
Boosts problem-solving abilities – The method also enhances problem-solving abilities as students encounter and overcome challenges during their assignment work.

Disadvantages of Assignment Method Of Teaching

Limits student creativity – Assignment method of teaching can curb student creativity as it often requires students to follow specific guidelines rather than encouraging independent thinking.
Can promote rote learning – This method can also encourage rote learning, where students memorize information without truly understanding it.
Not suitable for all topics – Some subjects or topics might not be suitable for the assignment method, making it less effective for comprehensive learning.
Ignores individual learning styles – It often overlooks individual learning styles, which can hinder students who learn differently from the prescribed method.
Can lead to student stress. – Lastly, the pressure of completing assignments can lead to stress among students, affecting their mental health.
Advantages and disadvantages of Assignment Method
Advantages and disadvantages of Assets
Advantages and disadvantages of Money Market Funds

You can view other “advantages and disadvantages of…” posts by clicking here .

If you have a related query, feel free to let us know in the comments below.

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10 disadvantages of using AI in Academic assignments

Artificial Intelligence (AI) has its advantages, but it also comes with several disadvantages when used in assignments and education.

Bias : AI algorithms can perpetuate inherent biases present in the training data, impacting the fairness and equity of assessments.
Personalization : The lack of personalized learning experiences in AI-based assignments can affect individual student needs and preferences.
Critical Thinking : Over-reliance on AI may hinder the development of critical thinking skills, which are crucial in academic pursuits.
Creativity : AI-based assessments may struggle to evaluate or stimulate creative thinking, often emphasizing predefined criteria.
Privacy : Privacy concerns arise when AI collects and stores sensitive student data in the course of assignments.
Data Security : Ensuring the security of the data collected during AI-based assignments is paramount in academic settings.
Technical Glitches : Technical errors or glitches in AI systems can disrupt the learning process and grading accuracy.
Educational Inequality : Inequalities in access to AI technology can exacerbate educational disparities among students.
Accessibility : Ensuring that AI-based assignments are accessible to all students, including those with disabilities, is essential.
Teacher-Student Interaction : Over-reliance on AI assignments may reduce opportunities for valuable teacher-student interactions in the academic environment.
Accurate Assessment : The accuracy of AI in assessing student understanding may vary, especially in fields that require nuanced judgment or contextual comprehension.
Pedagogy : The integration of AI into educational pedagogy should be carefully considered to optimize its benefits while minimizing its drawbacks.
Ethics : Ethical considerations regarding the use of AI in assignments are critical in academic discourse.
Learning Outcomes : Measuring the impact of AI-based assignments on learning outcomes is a subject of academic research and discussion.
Curriculum Integration : Integrating AI effectively into the curriculum is a topic of interest for educators and researchers.

By incorporating these keywords into discussions of the disadvantages of AI-based assignments in academic contexts, researchers and educators can delve deeper into the nuanced challenges and potential solutions in this field.

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Advantages and Disadvantages of Making and Buying

Advantages and Disadvantages of Making and Buying - Assignment Example

Subject: Business
Type: Assignment
Level: Ph.D.
Pages: 2 (500 words)
Downloads: 9
Author: audrey88

Extract of sample "Advantages and Disadvantages of Making and Buying"

Advantages And Disadvantages Of Making And BuyingBoth the outside resources and internal resources are very important for the development of a new system in an organization particularly when the combination that takes place is synergistic or turns out to be great. Internal resources include IT department analysts as well as other expert individuals, financial plan, and time line, hardware and software. On the other hand, external or exterior resources include information transfer to the internal IT department, need of the expertise or corporate mandate and springiness in terms of choice of functionality and timely provision (Stair & Reynolds, 2013).

The paper outlines both the advantages and disadvantages of the buy and the make approach.Advantages of using internal resources (making approach)i) Complete controlThe use of internal resource in developing the new system gives the organization total control of the system. They are able to carry out internal factor analysis by surveying, classifying, exploring and appraising without external interference (Limaye, 2009).ii) Ownership of the software codeThe organization has full ownership of the software code and can be able to smoothly identify and carry out major updates while doing inner testing without written permission from an external entity (Doyle, 2008).iii) Tailored to unique needs of the businessThe organization can make a system that is unique to their business needs because in house production enables them to make core features thus ensuring longevity as well as running of the software (Limaye, 2009). iv) In house production ensures easy identification of problems associated with the system and timely solutions.

Disadvantages of using internal resources (making approach)i) Development timeInternal development of software requires a lot of time from human resources of the organization. It is time consuming to develop complex solutions for multiple users (Doyle, 2008).ii) Training and supportIt requires that internal software developers be given specialized training services as well as support for them to be able to effectively work with the new system. The organization may not have resources and time to offer such training and support (Stair & Reynolds, 2013).iii) Competitive functionalityInternally made software face stiff competition from well established software vendors because they create software applications with an ease-of-use and a depth of functionality that is hard to match (Limaye, 2009).iv) TurnoverIn case the software developer leaves the organization, it may be hard for the organization to support the application (Stair & Reynolds, 2013).v) Staying currentThe organization may lack resources and time required to create a dedicated software development team necessary in updating the product to be compatible with the latest technology thereby making the system outdated (Doyle, 2008).

Advantages of using external resources (buying approach)i) The company has a wide range of ready-made solutions to choose from the one that suits their needs (Stair & Reynolds, 2013). ii) Effective systemsExternal vendors create software applications with an ease-of-use and a depth of functionality because they spend thousands hours of research and development (Limaye, 2009).iii) External vendors are able to provide the organization with specialized training as well as support because they have a big team of dedicated software developers.iv) Flexibility and adaptabilityExternal software vendors are able to develop software applications that are flexible to meet changes as well as adapting quickly to new technology.v) They can continuously enhance functionality through the input of the customerDisadvantages of using external resources (buying approach)i) Vendor retains complete control and rights to the code (Stair & Reynolds, 2013).ii) The product functionality is solely determined by the vendor (Stair & Reynolds, 2013).iii) The organization fully relies on the technical support of the vendor to resolve issues (Doyle, 2008).

This may be very inconveniencing especially when urgent attention is required.referencesStair, R., & Reynolds, G. (2013). Fundamentals of Information Systems. New York: Cengage Learning. Limaye, M. G. (2009). Software engineering: Principles and practice. New Delhi: Tata McGraw-Hill Education.Doyle, S. (2008). Essential ICT for AQA: As Level. Buckinghamshire, UK: Folens Ltd.

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