The condo at 1370 Costigan #406 is an “assignment” sale.  The owner is basically selling their interest in the agreement with the builder.  Because they don’t technically “own” the unit, the person selling usually needs permission from the builder, and may even offer the builder a nominal fee in order to sell the agreement.

Once you begin negotiation on an assignment, you want to be clear about who is paying the closing costs, and be sure to ask for written proof that the builder is agreeable.  They’re a little more complicated than a resale purchase, but with the right advice you can make them happen.

The last assignment in this development was listed higher, dropped their price to this level, and then sold in multiple offers… and it looks like this one is following the EXACT same path.  They’re reviewing offers on July 16th.  And at less than $400 per square foot, it starts to look pretty attractive for the right price.

Cardinal Court is easily the pick of the day – it’s a little cul-de-sac street where you imagine your kids playing hockey or basketball.  In fact, I don’t think I’ve EVER even set foot on the street.

Yes, the cabinets are wood and melamine (old style), but you can put a lot of money in this place and still end up at a very decent number.  A home on Lyndsay with a pie-shaped lot sold for $200k more than this home recently… and this one wouldn’t need nearly that much to make it shine.

Also, thanks to friend of the show Colin Best for pointing out that I was mentioning Charles Street in yesterday’s episode, instead of Maiden Lane.  Close enough, right?  🙂

Finally, one thing I didn’t see written anywhere in the description for Switzer is details about the solar panels.  Often these panels are added to the property for a one-time payout of a few thousand dollars, or you can receive a yearly, smaller payout for the next 10-20 years.  Removal or buy-out can be expensive, and with some companies, you don’t actually get to use the energy you are creating… it’s almost like having a “roof tenant” where you’ve agreed to have somebody else stay on your property for a very long time.

The owner may also have purchased the solar panels for themselves – in which case, they would receive the full benefit of energy generated.

Here comes the sun!  Little darling, just a music video today with no hosting.  🙂

As with most things, proper advice from the right people, and a thorough gathering of facts, will avoid many issues.

Tomorrow I’ll talk more about the interest rate increase, and what it means for most people.