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An assignment sale allows a purchaser to sell their condo before it closes.
What is an Assignment Sale?
An assignment sale is when the original buyer sells interest in a pre-construction property before they take possession – in other words, they sell the contract they have with the developer to a new purchaser. The buyer of an assignment contract is replacing the original purchaser.
Buyers
Get a Great Deal
Negotiate significant savings in comparison with resale and other pre-construction units.
Buy New
Move into a brand-new home never lived in with full warranty.
Move-In Sooner
Don’t want to wait years for the condo to be built? Purchase and move into your new dream home in just weeks or months.
Sellers
Gain Liquidity
Need or want to sell your condo before you close? Access cash and diversify your portfolio by selling now.
Eliminate Closing Costs
Save time and thousands in closing and mortgage costs.
Agents
Help Your Buyers
If you have clients looking to buy, take a look at an assignment sale, you may save them thousands of dollars.
Help Your Sellers
If you have clients in need of selling fast, an assignment sale can provide the liquidity they’re looking for.
Certified Confidence
Trusted network of legal professionals to ensure a rigorous and upright process for buyers and sellers.
Interested in Selling or Buying
a Pre-construction Unit?
a Pre-construction Unit?
The More You Know
Learn more about buying and selling pre-construction assignments below.
Pre-Construction Assignment Sale FAQ
Q: What is an Assignment Sale? A: An assignment sale is the sale of the contract for a newly built or still under construction condo unit or home. Q: Why do Assignment [...]
Benefits to Buying Pre-Construction
Key benefits in buying a pre-construction assignment unit just before closing include: comparing prices among other pre-construction units closing in the near future and other resale units, negotiating the purchase price, not having to wait 4 years or more for new pre-construction, and buying a new, [...]
Benefits from Selling Pre-Construction Before Closing
Key benefits in selling your pre-construction unit before closing include: avoiding closing costs, gaining liquidity and subsequently investing in another pre-construction unit, or simply diversifying your holdings. Mark purchased a pre-construction condo [...]
Steps to your Pre-Construction Unit Sale
It is the original purchaser’s responsibility to uphold the terms of the Agreement of Purchase and Sale. The new purchaser assumes the responsibilities once the pre-construction assignment sale is completed. The process [...]
What is a Pre-Construction Assignment Sale?
The transfer of a pre-construction contract from the original purchaser to a new buyer before possession of the unit is taken is called an assignment sale. John Smith decides to buy a new home in the pre-construction phase in [...]
The New Buyer in a Pre-Construction Unit
When an assignment sale occurs within the pre-construction real estate market the legal transfer of the contract for the home or condo in question is now assigned to the new home [...]
The Assignment Sale Legal Process
Buying and selling pre-construction units via the assignment clause is best executed with the assistance of legal representation. Advice from a lawyer well-versed in this niche market is highly advised. When Ben purchased his 2-bedroom plus den [...]
Finding Pre-Construction Assignment Sales
CondoNow is your resource to learn about or buy or sell pre-construction assignment units across the GTA. Did you know? We connect buyers and sellers of pre-construction assignment units. CondoNow is the leading resource for buyers, sellers, [...]
The Assignor is the Original Condo Buyer
When it comes to pre-construction assignment sales just remember that the original first buyer of the unit is called the assignor. Within the real estate market and any business-driven market, the [...]
Take Advantage of Pre-construction Assignment Sales
Life can change in an instant, whether it be of a positive or negative nature, things can change quickly. An assignment clause is included in the Agreement of Purchase and Sale to protect both [...]