I've never bought a house before so forgive me if this is a stupid question, but recently I was told something about deposits with home builders that got me confused.
So my parents have been nagging me to buy property in Toronto, Canada. In the latest development in this nagging, I was told that if I paid a 50k deposit to the builders for a to-be-built new home, I could settle with some other buyer before the home even is built, and they pay me some compensation (presumably greater than 50k) to transfer the rights of the deposit to them instead.
Is this really a thing? First time I've heard of it.
Up until now I always considered stock indices to be a better investment than houses.