Assignments by CondoNow2021-01-14T23:14:44+00:00

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An assignment sale allows a purchaser to sell their condo before it closes.

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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 builtPurchase 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. 

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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 [...]

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