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The Toronto Condo Crash Is Imminent

Stuck with a condo nearing completion and worried about the market? You're not alone. Let's break down your options: close or assign? As we navigate these uncertain times, many are finding their pre-purchased condos aren't appraising at expected values. With the market down, you're faced with two choices. First, you could assign your property, selling your agreement to another buyer before closing. It might seem like an easy out, but with assignments stalling in the current market, finding a buyer willing to take over at a big profit is tough. Alternatively, you could close on the property, taking on monthly losses due to negative cash flow. This is a gamble, betting on the market's eventual recovery. Remember, closing means committing to years of potential financial strain unless the market swings back. The root of this dilemma? A market boom driven by low interest rates during the pandemic, leading to high purchase prices now misaligned with current values. Whatever path you choose, it's a decision weighed heavily by the market's unpredictable nature. Struggling to decide or need more insights? Book a call below and let’s chat. Schedule a 15-minute appointment to chat with me here: https://www.broadviewavenue.ca/appoin... ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Subscribe now to keep updated for more information. If you want to chat with us, do the following: 1. Send an email at [email protected]; or 2. Send a direct message on my Instagram account below; or 3. Book an appointment for a 15-minute video chat using the link on our website. If you’re not ready to reach out and just want to follow for more, find us online: YouTube: https://www.youtube.com/kennethyimhom... Instagram:   / kennethyimhomes   TikTok:   / kennethyimhomes   LinkedIn:   / kennethyimhomes   Facebook:   / broadviewavenue   Web: http://www.broadviewavenue.ca ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬