Questions About New Condos in Shelburne

Investing in a new condo development has many benefits, including the ability to customize your unit, earn a profit, and save money. Buyers can customize their units by changing features such as flooring and lighting or by requesting upgrades. Upon completion, the condo unit's value will also increase, resulting in a profit for the seller. Additionally, buying a pre-construction condo can help buyers save money since they avoid bidding wars that may cause them to go over budget.

During the cooling-off period, which lasts ten days, you can void or cancel a contract with the developer. If you cancel the contract within this time, you won't be penalized. Upon cancellation of a contract, any deposits you made may be refunded.

Selling a pre-construction condo unit is possible through an assignment sale. The assignment sale occurs when the original buyer of a pre-construction condominium or home sells their contract to another buyer before construction is completed. A contract is sold when the rights and obligations of the original buyer are transferred to the new buyer. Due to the popularity of condo properties, pre-construction and resale assignments are common in these properties. Assignment of property rights allows the seller to transfer ownership before the construction of the property is complete.