Understanding Assignment Sales in BC

What is an Assignment Sale?

An assignment sale occurs when the original purchaser of a presale condo sells their contract to a new buyer before the building is completed.

How It Works

When you buy an assignment, you're taking over the original purchase contract, including the price, deposit structure, and completion date. The original buyer assigns their rights to you.

Advantages

• Shorter wait time to completion
• Potential below-market pricing
• Instant equity if market has appreciated
• Opportunity to buy sold-out projects

Considerations

• Developer approval required
• Assignment fees may apply
• Less unit selection compared to initial launch
• Need to qualify for mortgage at assignment