AssignmentAssignment sale
1 bed + den · 1 bath · 545 sq ft · S
Asking price $599,000
Original price $605,990 · −$6,990
In plain words
This is an assignment: you take over the original buyer's contract for Festival · 1 bed + den. You'd pay the seller about $114,208 when the assignment closes (their $121,198 deposit, less $6,990 because the asking price is below what they paid) and you pay the builder the balance at final closing (estimated occupancy: June 2025). We confirm every figure first.
Details as advertised — not yet verified. Our team confirms the deposit, builder consent and closing costs before you offer.
Builder consent pending — the suite number and exact floor are shared once permission is confirmed.
The assignment math
Figures as advertised, not yet verified. We confirm them before you offer.
Paid by the seller: $121,198 (20%)
An estimate in three steps: what you pay the seller now, what you owe the builder before closing, and what’s due at final closing. Change the settings to see your number.
Total cash you need, all-in$128,255
Mortgage at final closing: $479,200 · Land transfer tax: $8,455
Estimate only, not tax or legal advice. Land transfer tax is worked out on the full price you pay ($599,000); your lawyer confirms it. Occupancy fees and adjustments aren’t included. Built from figures as advertised; confirm with us.
Between occupancy and final closing you can move in and pay the builder a monthly interim occupancy fee. It isn’t rent toward the price.
Most builders must approve an assignment and charge a fee; nothing is final until they consent in writing. If the builder refuses, the assignment can’t go ahead.
Assignment sale of a 1-bedroom + den 1b+d at Festival, Vaughan by Menkes. 1 bath, about 545 sq ft, S exposure, no parking, no locker. Asking $599,000; original purchase price $605,990; $121,198 in deposits paid. Estimated occupancy: 2025-06. Details are as advertised and not yet verified by Summitly — ask our team to confirm the deposit, builder consent and closing costs before you offer.
The seller has paid the builder $121,198 (20% of the original price). You pay that back to the seller when the assignment closes; it stays with the builder and counts toward your price. These figures are as advertised; we confirm them before you offer.
You take over the original buyer’s contract with the builder before closing: you repay their deposit, pay any difference in price, and close with the builder.
Vaughan · 1B+D
1 bed + den · 1 bath · 545 sq ft
Builder assignment fee: ask us
Details as advertised — not yet verified
Vaughan · 1B+D
1 bed + den · 1 bath · 544 sq ft
Builder assignment fee: ask us
Details as advertised — not yet verified
Vaughan · 2B
2 bed · 2 bath · 697 sq ft
Builder assignment fee: ask us
Details as advertised — not yet verified
Coldwell Banker Summit Realty, BrokerageZara is an AI virtual agent. Advisors are licensed REALTORS® at Coldwell Banker Summit Realty, Brokerage.
