I remember my real estate agent telling me that in some underr construction properties there is provision to sell the property before you get possession.

For eg. suppose you buy property in Oct(you pay 50k or some lump sum amount) and you are supposed to get possession in Aug 2016, but still you can sell(transfer) the property to other buyer before August, as property is yours only on paper in is not yet registered with Municipality.

I don't know how risky is it, but as per my real estate agent, you get benefit of the price appreciation and if you put 50K, may get 80-90K in an year.

1. So the govt. should get HST 2 times - 1 for each closing?
2. Why should the govt encourage profits for 1 line of business at the cost making the houses un-affordable to the truly deserving?
3. Bridge financing and re-assignment are much more complex than stated here. There are added bank charges and legal charges as well...

I believe it was mentioned earlier - giving investment advice on an open forum is very dangerous since it will not suit everyone without full disclosure.

I hope sane sense will prevail.

Hiren

To make it simple. on contract go as "XYZ in Trust " , you can change name letter as you needed ....

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'Some goals are so worthy, it's glorious even to fail.' (Param Vir Chakra awardee Lt. Manoj Pandey)

Quote:

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Originally posted by hchheda


I believe it was mentioned earlier - giving investment advice on an open forum is very dangerous since it will not suit everyone without full disclosure.

I hope sane sense will prevail.

Hiren

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Revenge can be bitter sweet, but if u sit back and watch, KARMA can be pure entertainment.

Discussing is different than advising.

The first post was essentially enticing unknown audience to invest in a new development - which IMO is similar to solicitation even though you may/may not be the promoter/benefactor. Will let the Mods decide.

However, my request was not to dish investment advice on an open forum without understanding the financial capability of the audience. I have nothing against discussion but IMO this discussion seems more like investing advice with an added speculation about future real estate pricing.

And the math regarding 1200/1500 pm is a realtor's math - take it with a grain of salt.

I wouldn't be surprised if you fail to understand the difference.

Hiren

I hope govt doesn't allow selling property before closing . There are reasons why they want people to live in the house rather than just flipping . Flipping house doesn't boost economy in any way . It just makes house un affordable for coming generations .

Ever heard of hoarding and black marketing !!

Anyways thanks for contributing as this thread cleared quite a bit of clouds especially the HST part .

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Growing Old Is Mandatory ..Growing UP is Optional

I hv an Italian frnd single mom with 2 children who stayed in a detached house 3 bhk on rent for 12 yrs paying $1500 + 65% utilities and whn she was settled, suddenly one day she received 2 mnths notice frm landlord to leave the place since thy wanna sell the house. This lady was so shocked that, she started crying coz she has to move in winter. I was equally shocked coz she is a good tenant. I calculated she paid 18000x12= 216000. She could hv bot a house 12 yrs back for 180k.

I think our govt shd work out some financial package for people who are settled in this country for more thn 25-30 yrs. This lady who
is now 50 yrs old stand no chance of owning a house or condo. There are so many people here who hv paid rent for 25-50 yrs.

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Revenge can be bitter sweet, but if u sit back and watch, KARMA can be pure entertainment.