condo assignment sale hamilton ontario

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"assignment" in Real Estate in Hamilton

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New Towns & Detached in Caledonia

New Towns and Detached in Caledonia, Thorold, Brantford, Stoney Creek. Flexible deposit structure, Assignment Available, Closing 2024-2025 Call/Text 647-831-4698

$749,000.00

120 Springvalley Cres

Assignment Sale!! Luxe Condominium is an exciting new trend-setting condominium that will be your desired destination for a modern carefree lifestyle. Executive 2 bedroom 2 bath Condo on Prime West ...

$499,999.00

#1419 -1 JARVIS ST E Hamilton, Ontario

MLS® #X8124356 ""Assignment sale"" A Brand-new condominium built by Emblem development comes with a total 693 Square Feet ( 632 sq ft suite and 61 sq ft Balcony) with 2 Spacious Bedrooms & a full ...

$599,000.00

1 JARVIS Street

Exciting opportunity awaits at 1 Jarvis with this remarkable assignment! This exquisite condo boasts 2\r\nbedrooms, 2 full washrooms, and an expansive terrace spanning 367 square feet. Plus, enjoy ...

120 Springvalley Crescent

120 Springvalley Crescent, Unit #302 Hamilton, Ontario

MLS® #H4182487 Assignment Sale!! Luxe Condominium is an exciting new trend-setting condominium that will be your desired destination for a modern carefree lifestyle. Executive 2 bedroom 2 bath Condo ...

CONDO 2+2 CLOSE TO McMaster and Hamilton Hospitals

Close to McMaster, St. Joseph's Healthcare Hamilton, Hamilton General Hospital, and Juravinski Hospital. 2 bed. 2 bath available for RENT A new condo development by Emblem at Jarvis St and King St E ...

AMAZING CONDO ASSIGNMENT ON MAIN IN HAMILTON!! CALL 6474702604

ARE YOU LOOKING FOR A CONDO IN DOWNTOWN HAMILTON? WESTGATE OFFERS AMAZING VIEWS WITH PREMIUM UNITS!!! This is a great deal, won't last longl!! Fill in the form above and I'll get back to you ASAP! ...

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$399,999.00

1 Jarvis distressed assignment sale

Welcome to 1 Jarvis Condos Located in Hamilton. 1 Jarvis is EMBLEM Development's first building in Hamilton, designed by Studio JCI. It's 14 storeys if you don't include the mezzanine, and it's 15 ...

$449,999.00

#920 -1 JARVIS ST S Hamilton, Ontario

MLS® #X8102406 Offer Anytime*** Assignment Sale *** 1 Jarvis St, Hamilton. 461 Sqft Interior, 56 Sqft balcony 1 bedroom/ 1 Bathroom is for sale. Floor to ceiling windows, 8'6"" Ceiling Height. Quartz ...

$379,000.00

¤ Located near Ferguson Ave & King William St Hamilton

** ASSIGNMENT SALE ** 1 Jarvis Condos is conveniently situated in the heart of downtown Hamilton, avibrant and bustling neighbourhood that boasts a very high Walk Score. Residents will enjoy ...

¤ Hamilton 1 Bdrm 1 Bth - Ferguson Ave & King William St

Assignment Condo Sale

CONDO ASSIGNMENT SALE 2 bed. 2 bath A new condo development by Emblem Developments currently sold out at Jarvis St and King St E in Hamilton. The development is scheduled for completion in April, ...

¤ 1 Bdrm 1 Bth - Ferguson Ave & King William St | Schedule Appt

¤ 1 Bedroom 1 Bths located at Ferguson Ave & King William St

#320 -1 JARVIS ST Hamilton, Ontario

MLS® #X8096242 Exciting opportunity awaits at 1 Jarvis with this remarkable assignment! This exquisite condo boasts 2 bedrooms, 2 full washrooms, and an expansive terrace spanning 367 square feet. ...

¤ Located in Hamilton - It's a 1 Bdrm 1 Bth

¤ This One's A 1 Bdrm 1 Bth Located At Ferguson Ave & King Will

$420,189.00

1 Jarvis St N

*** assignment sale **** BRAND NEW, NEVER LIVED IN, MODEL WOOD 6 model, 460 sq ft interior, 56 sq ft balcony single bedroom and one full bathroom, soft close hardware, countertops and backsplash, ...

$759,000.00

Homes for Sale in Central East, Hamilton, Ontario $759,000

This is assignment sale.Two storey Townhouse.Two bedroom and underground parking.Estimated occupancy May 2024.Deposit $32,900.00Taxes not assessed yet.New building.Condo fees to be determined. Family ...

¤ Ferguson Ave & King William St - Hamilton

¤ Ferguson Ave & King William St 1 Bdrm 1 Bth | Make an Appt

NORTHSHORE CONDOS IN BURLINGTON STARTING * MID $600's *

* FREE ASSIGNMENT * # Nestled within the picturesque LaSalle neighbourhood just west of downtown Burlington. # Northshore Condos features rolling fairways of Burlington Golf and Country Club. # ...

Design District condos in Hamilton - * Free Assignment *

* TOWER 1 * - STARTING FROM HIGH $ 400's - ** SPECIAL BONUS INCENTIVES FOR INVESTORS ** - FREE MORTGAGE PRE-APPROVAL - FREE LAWYER REVIEW # Introducing The Design District Condos , GTA’s most ...

RADIO ARTS CONDOS IN HAMILTON @ MID $ 500's*STEPS TO FUTURE LRT*

* FREE ASSIGNMENT * # Radio Arts, an exciting new 14-storey condominium coming soon to Downtown Hamilton # LOCATION : King St W & Caroline St, Hamilton. # REASON TO INVEST / BUY : - Moments from the ...

$404,900.00

#521 -1 JARVIS ST Hamilton, Ontario

MLS® #X8092092 ** ASSIGNMENT SALE ** 1 Jarvis Condos is conveniently situated in the heart of downtown Hamilton, Project by EMBLEM Developments! Brand New Unit.Never lived in, be the first one to ...

1 Jarvis St

** ASSIGNMENT SALE ** 1 Jarvis Condos is conveniently situated in the heart of downtown Hamilton, Project by EMBLEM Developments! Brand New Unit.Never lived in, be the first one to move in! Available ...

¤ 1 Bed / 1 Bth For Sale

¤ w/1 Bedrooms In Hamilton

¤ Inquire About This 1 Bdrm 1 Bth - Ferguson Ave & King William

$799,900.00

Lakeshore & Martha St - Burlington

***HUGE TERRACE DIRECTLY FACING THE LAKE*** This is An Assignment Sale! Luxury Living Right on The Lake In the Thriving Burlington Lake Shore Walk to all the Conveniences. 4th floor Unit With a Huge ...

¤ A 1 Bdrm 1 Bth Ferguson Ave & King William St

$419,900.00

1 Bedroom 1 Bths - located at King St. E. And Wellington St.

ASSIGNMENT SALE OPPORTUNITY - 1 BED & BATH, 512 SQFT READY TO MOVE IN APRIL 2024 Embrace the urban lifestyle at 1 Jarvis Street, Hamilton, a new development by EMBLEM strategically situated for your ...

¤ Inquire About This One At Ferguson Ave & King William St

¤ @ Ferguson Ave & King William St

¤ 1 Bdrm / 1 Bth in Hamilton

¤ 1 Bedroom 1 Bth Located in Hamilton

¤ Look No Further!

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Condos for Sale in Hamilton, ON

406 condos for sale in hamilton.

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#206 -121 King St East St Hamilton, ON

890 Limeridge Road E|Unit #53 Hamilton, ON

#5w -174 Mountain Park Ave Hamilton, ON

174 Mountain Park Avenue|Unit #5w Hamilton, ON

#34 -441 Stonehenge Dr Hamilton, ON

#55 -800 Paramount Dr Hamilton, ON

1666 King Street E Hamilton, ON

#42 -800 Paramount Dr Hamilton, ON

1809 Upper Wentworth Street|Unit #7 Hamilton, ON

301 Frances Ave Hamilton, ON

#408 -77 Leland St Hamilton, ON

#334 -10 Mallard Tr Hamilton, ON

1402-75 Queen Street N Hamilton, ON

8 Woodman Drive S|Unit #602 Hamilton, ON

174 Mountain Park Avenue|Unit #2w Hamilton, ON

#2w -174 Mountain Park Ave Hamilton, ON

20 Meadowlands Boulevard|Unit #23 Hamilton, ON

#23 -20 Meadowlands Blvd Hamilton, ON

#16 -876 Golf Links Rd Hamilton, ON

#42 -566 Southridge Dr Hamilton, ON

566 Southridge Drive|Unit #42 Hamilton, ON

#10 -30 Mia Dr Hamilton, ON

#203 -301 Frances Ave Hamilton, ON

#605 -67 Caroline St S Hamilton, ON

67 Caroline Street S|Unit #605 Hamilton, ON

#42 -1675 Upper Gage Ave Hamilton, ON

421-77 Leland Street Hamilton, ON

#1508 -15 Queen St S Hamilton, ON

103-455 Charlton Avenue Hamilton, ON

112 King Street E|Unit #1003 Hamilton, ON

1964 Main Street W|Unit #806 Hamilton, ON

80 King William Street|Unit #212 Hamilton, ON

413-1 Jarvis Street Hamilton, ON

4 Radison Lane|Unit #1 Hamilton, ON

#1 -4 Radison Lane Hamilton, ON

#601 -121 King St E Hamilton, ON

#12 -34 Southbrook Dr Hamilton, ON

#21 -261 Skinner Rd Hamilton, ON

#226 -125 Shoreview Pl Hamilton, ON

77 Leland Street|Unit #304 Hamilton, ON

#304 -77 Leland St Hamilton, ON

150 Main Street W|Unit #402 Hamilton, ON

#402 -150 Main St W Hamilton, ON

293 Mohawk Road E|Unit #702 Hamilton, ON

#702 -293 Mohawk Rd E Hamilton, ON

121 King Street E|Unit #601 Hamilton, ON

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Pre construction & new condos for sale in Hamilton, ON

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Hamilton new construction real estate market

There are 119 new home communities in Hamilton , a mix of high-rise and low-rise that are planned, under construction or recently completed. There are 62 condo communities in Hamilton , with 339 floorplans and units for sale. There are 54 townhouse communities in Hamilton , with 85 floorplans and units and 32 single-family home communities , with 230 floorplans and units for sale. The median price per square foot for a low-rise home is $530. The most active developer in Hamilton is New Horizon Development Group . Find your new construction home in Hamilton by browsing the map, or using the filters above. Filter map search results by number of bedrooms or price. More filters are available on the map. Save your search to receive updates on Hamilton new home inventory that meets your criteria.

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Assignment Pros

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Assignment Specialists in Ontario

Ontario’s Largest Assignment Wholesaler And Experience With Over 200+ Units

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Why Assignment Pros

Condo Assignment Specialists

This is all we do, we have a complete understanding of assignment transactions and as subject matter specialists we specialize in the acquisition and sale of assignment properties in Ontario.

Extensive Assignment Network

Our exclusive and proven marketing system means we have access to the largest network of assignment sales in Ontario, enabling us to sell your unit for highest value and helping connect buyers to their preferred unit.

Turn-Key Service

Our team is complete with assignment lawyers and accountants to ensure you can make an informed decision and have the required expertise throughout the transaction.

What Does “Assignment” Mean in Real Estate?

An assignment refers to a sales transaction where the original buyer (the assignor) of the property enables a new buyer (the assignee) to assume the buyer’s rights and duties under the Purchase and Sale Agreement (APS) before the original buyer closes the property. 

The assignee will be the one to complete the deal with the seller. Overall, it’s vital to have an experienced and certified assignment specialist assist you when buying or selling an assignment property in Ontario. Our team from Assignment Pros can provide a smooth and successful experience for both assignees and assignors.

Active Condo Assignments for Sale

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– 1 Bedroom, 1 Bathroom (549 Square Feet)  – Original...

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2 Bedroom, 2.5 Bathroom 1332 Square Feet with Massive Rooftop Terrace...

Sunnidale Wasaga Beach – SELLING UNDER COST

Semi-Detached, 3 Bedroom, 2.5 Bathroom 1477 Sqft Capped Development Charges...

Tridel at the Well – Toronto – SELLING AT 2019 PRICING

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1 Bedroom + Den, 2 Bathroom (678 Square Feet +...

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 Sold Out Project in Coburg Occupancy: January 15th, 2024 Original...

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2 Bedroom, 1 Bathroom 733 Sqft with Large Patio (580sf Interior...

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1 Bedroom, 1 Bathroom (555 Square Feet + Massive 252...

Mississauga Oro at Edge Towers

Toronto panda condos, kitchener young condos, vaughan mobilio condos, mississauga m-city project, barrie mapleview park, windsor laurier horizon.

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Deposit Paid to Builder: $33,000 Five Appliances and Washer and...

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Rich in history, nature and culture, Kleinburg is one of...

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Rare assignment in revolutionary Nordic Condos – a 12-storey condominium...

Nahid Kennedy Level

Located at 615 Kennedy Rd., Nahid Kennedy is ideally situated...

Georgian Model Elevation

33 Foot Lot 9 foot ceilings with large basement windows...

Get an Accurate Assignment Market Update

During our initial consultation, we will provide an accurate analysis of similar units sold in both assignment markets and resale markets and explore the pros and cons of the unit you intend to acquire.

Benefits of Having Assignment Pros Assist You 

We Can Provide Increased Visibility and Traffic to Your Assignment Property

It can be challenging to find buyers for an assignment property. We can help you fast-track your assignment sale by enabling you to utilize our extensive network and

No Need to Worry About All the Legal Paperwork

When you work with us, we will handle all of the time-consuming and colossal legal paperwork for you. We are well-versed when it comes to collecting and submitting all the necessary legal documentation for an assignment sale.

We Can Find the Best Deals for You

We have access to a wide range of assignment properties, including assignment properties that may not be available on other listings. Through our extensive database and our comprehensive network, we ensure that we can find the ideal assignment property for you.

We’ll Assist You From Beginning to Closing

Whether you are an assignor or an assignee, we will thoroughly assist you throughout the entire assignment sales process.

Important Factors to Consider When Purchasing or Selling Assignment Properties

Although selling and buying assignment properties is legal in Ontario, there are important technical restrictions and requirements that govern the purchase and sale of pre-construction assignments.

Developer Restrictions

Restrictions pertaining to the number of assignments permitted by law per project and assignment fee. Assignment Pros understand all restrictions and regulations of assignments in Ontario.

Condo Registration

If the assignment property is a condominium, it must be registered with the condominium corporation, and the assignee must meet the same requirements expected from the original buyer.

Tax Implications

Condo assignments may be subject to additional taxes such as capital gains taxes and land transfe r taxes. Our assignment lawyers and accountants help clients close deals with a peace of mind.

Retrieving Disclosure Statement

Before an assignment sale in Ontario is approved and legalized, developers must provide assignors with a full disclosure statement outlining all the necessary terms and conditions of the sale.

Finding the Best Financing Options

Finding financing for Ontario condo assignments may be more challenging as some lenders require a higher down payment or charge a higher interest rate. Assignment Pros can help.

CONTACT OUR ASSIGNMENT EXPERTS NOW

Difference Between Resale and Assignment

Resale properties.

• The property is registered in the land registry system in Ontario.
• You can physically view the property
• Requires a mortgage
• Closing date is 60-90 days
• Potential for growth is lower compared to assignment properties

Assignment Properties

• The property is not yet registered and will only be registered to the land registry system once construction is finished.
• You can’t physically view the property until construction is finished.
• Does not require a mortgage but requires at least a 25% down payment.
• Closing date can vary from months to years

Our Condo Assignment Services

Excellent Marketing

It can be challenging to market an assignment property due to its niche nature. We will ensure that your assignment property will attain maximum exposure using our proprietary marketing system. We will leverage our exclusive channel to fast-track your property sale.

Access to our Database

To secure the best deals, access to new listings is vital. Through our extensive database and comprehensive networks, we can provide assignees with an exhaustive list of properties to choose from. We will also regularly alert you for new listings added to our database.

Market Analysis

Market analysis is crucial in ensuring that sellers and buyers get a fair offer for their assignment property. Assignment Pros can perform in-depth market analysis and provide deep insight into current supply and demand dynamics to help you determine the accurate value of your property. 

Hear What Our Clients Say About Us

Their team was outstanding!! We are very lucky to have had the opportunity to work with Taz & Labeed . They are not only genuine, but take much pride in all aspects of their work and makes sure things run smoothly. From day they have been very helpful and always looked out for our best interest in finding us our Assignment property. Thank you so much, you guys are truly gems!!!

I had Purchased a precon a few years ago and unfortunately could not close on the unit. I had never done an assignment sale before so was a little bit nervous as I had heard they can be complex. The guys at Assignment Pros were awesome and easy to talk to when I reached out to them. They went over the entire process from start to finish and provided honest and transparent advise. Long story short we were able to sell my unit and I couldn’t be happier and more importantly a stress off my shoulders

Labeed is very knowledgeable and professional and knows what he is doing, he guided me through each step and made sure that all my questions were answered. Thanks to him I was able to buy a brand new condo downtown on Assignment under market value!

These guys have been by far the best to work with in the industry! I’ve been in the market for some time and worked with many agents but my experience with them has been outstanding. They went above and beyond exceeding my expectations on my first Assignment Sale. Their extensive knowledge and experience in the market as Top real estate agents made the whole process very smooth. I am very satisfied and comfortable working with Taz and the team. I highly recommend them to everyone looking to sell or buy an assignment.

Toronto’s Largest Assignment Property Wholesalers

Assignment Pros is Toronto’s largest assignment property wholesalers.  We provide reliable, honest and expert guidance no matter your price range.

An assignment sale condo is a sale of a contract stating the purchase of a pre-construction condominium unit.

Selling a condo assignment is a complex process that involves finding a buyer, obtaining consent from the developer, accurately determining the value of the property and more. 

When selling a condo assignment, it’s best to seek assistance from the assignment experts at Assignment Pros, we will assist you throughout the process and expedite the process.

Buying an assignment condo entails thorough research, finding financing options, and negotiation, which can be overwhelming, especially to inexperienced buyers. 

If you’re considering purchasing an assignment property, let the assignment experts from Assignment Pros help you. We will deal with all the hefty paperwork and help with negotiations. We can assist you from establishing your initial budget to closing the deal.

Yes, assignments are generally legal in Ontario. However, there may be a few restrictions when it comes to buying and selling assignment properties depending on the specific terms of purchase agreements and the developer or builder’s policies. 

The mandatory disclosure of the assignment and restrictions on the assignment fee is currently implemented by the Ontario government to protect both the assignor and assignee. 

It’s vital to thoroughly review the purchase agreement and seek assistance from experienced assignment professionals before buying or selling an assignment property.

Talk to Our Assignment Property Experts Today

Contact us now and talk to one of our Ontario condo assignment experts today to discuss your assignment property acquisition or property assignment sale.

Major Cities Served:

We provide assignment sales services in the following cities:

• Toronto & GTA
• Mississauga

*E.&O.E. Terms and Conditions Apply – All information herein was gathered from sources both professional and lay deemed to be reliable. Assignment Pros and its representatives make no representation as to its accuracy and will not be held responsible for any discrepancies. Prospective purchasers are advised to verify all information herein. All renderings, pricing, incentives and other information are subject to change without notice.

Not intended to solicit buyers or sellers currently under contract with another brokerage.

• Selling Assignments
• Buying Assignments
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• 647-567-9162
• 600 Matheson Boulevard West Unit 5, Mississauga, ON, L5R4C1

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Assignment Sales in Canada: What You Need to Know as a Buyer

• Closing cost in Ontario

What is an assignment sale?                                                                                                                                                                                                                                                                            We get this question quite often from both investors and end-users when it comes to the Toronto condo market, especially with the dramatic rise in condo buildings and pre-construction sales. Assignment sales can be a great opportunity for everyone involved, from the seller to the buyer. But working with a seasoned real estate broker is one of the most important things you can do. An assignment sale isn’t a typical transaction and there are many things you need to know before moving forward. Additionally here some useful facts about to Maximizing Your Investment in the  role of Amenities in Real Estate Purchases and Investments in Canada

What Does an Assignment Sale Mean? An assignment is a sales transaction where the original buyer of a property (the “assignor”) allows another buyer (the “assignee”) to take over the buyer’s rights and obligations of the Agreement of Purchase and Sale, before the original buyer closes on the property (that is, where they take possession of the property). The assignee is the one who ultimately completes the deal with the seller. In other words, an assignment clause allows the buyer of a home to sell the place before they take possession of it. Although an assignment sale is possible for both home and condos, it’s much more popular among condo pre-construction buyers. here some important Frequently asked questions about Inspection.

Assignment Sales

Why Would Someone Want to Sell Their condos on Assignment? With pre-construction condo purchases, the sale of suites typically takes place several years before the building is built. It’s a long time in between buying the suite and actually taking occupancy of it. And with this lag time comes life changes – a new job outside of the city or in a different province, a new family that’s expanding with children, etc. What worked for a particular buyer years ago may not be the current case at closing time.

Financial reasons is also another reason to sell on assignment. Perhaps the purchaser can no longer be able to close on the condo, or perhaps it’s an investor who bought pre-construction with no intention of closing on them, therefore using an assignment sale strategy to profit, based on quick appreciation in the area.

Often with pre-construction sales, there’s a long lag between when the original contract is entered into, when the Buyer can move in (the interim occupancy period) and the final closing. It’s not uncommon for a Buyer’s circumstances to change during that time…new job out of the city, new husband or wife, new set of twins, etc. What worked for a Buyer’s lifestyle 4 years ago doesn’t always work come closing time.

How Do Assignment Sales Work? We completed an assignment sale for a client at 87 Peter Street which was a new building that has occupied, but not registered yet. Our client purchased a 1-bedroom, 1-bathroom condo pre-construction for $320,000.00. He was looking to sell the unit on assignment and listed it at $525,000.00. We received an offer of $500,000 which the seller was comfortable accepting. Additionally Click here for know about Tax Exposure.

Typically, when assignment sales takes place, the seller is looking for a buyer who can provide him with a purchase deposit that equals what he had to put down – usually 20% of the original purchase price. After providing the seller with this sum, the deposit paid to the builder now becomes the new purchasers deposit . Any upside to the seller can be paid based on the negotiated terms – sometimes when the seller gets a mortgage for the condo, or even earlier – it’s all based on terms of the assignment deal.

Overall, assignments sales are not to be overlooked – there can be some fantastic opportunities to get into a highly desirable building that you may have missed out on or purchase a condo that you may otherwise not have had access to. But the importance of working with a realtor and lawyer who know the ins and outs of these deals is the key to making them work for you. Additionally here is the some more details about assignments sales.suggested by RECO

If you’re interested in learning more about Assignment Sale and some of the great opportunities currently available, Contact us  if you’re looking for a  Pre-construction condo  in the  GTA .

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List of Assignments for Sale in Ontario (2024)

Leading online marketplace for condos, townhomes & detached home assignment sales in ontario.

$ 1,199,999 2000 Sqft

Occupancy - May 2024

Sixth line & Dundas E

Bay Street Group Inc., Brokerage

$ 699,000 1444 Sqft

Mapleview Drive East & 20th Sideroad - IV

$ 680,000 1400 Sqft

Occupancy - Feb 2024

Glenridge Ave & Glendale Ave

$ 839,000 1125 Sqft

Occupancy - March 2024

Burnhamthorpe and Dixie

. Mississauga

$ 520,000 582 Sqft

Occupancy - Jan 2024

Neyagawa Blvd & Dundas St W- I

$ 875,000 1839 Sqft

Occupancy - Early 2024

Monarch Ave & Hunt St

$ 1,250,000 2058 Sqft

Burnhamthorpe and Sixth Line

$ 1,155,000 2500 Sqft

Occupancy - March 2023

Mapleview Dr E & Yonge St

$ 759,990 1757 Sqft

Simcoe St N & Windfields Farms Dr

$ 685,000 968 Sqft

Occupancy - February 1, 2024

201 Elmira Rd S, Guelph, ON N1K 1R2

Peter Lan Chung

Red Brick Real Estate Brokerage

$ 768,000 1300 Sqft

Occupancy - April 2023

530 Speers Rd.

Royal Lepage Real Estate Services Success Team

$ 1,080,000 2150 Sqft

Occupancy - Mar 2024

Ravi Godara

Elixir Real Estate

$ 510,000 478 Sqft

Occupancy - Dec 2023

Ridgeway Dr & The Collegeway

$ 1,100,000 1825 Sqft

Occupancy - Fall 2024

Kingston Road and Franklin Avenue

. Scarborough

$ 1,499,000 2550 Sqft

Mayfield & McLaughlin Rd- II

$ 1,299,990 2663 Sqft

4 HEARTWOOD GATE Whitchurch-Stouffville, Ontario L4A1M2

. Stouffville

$ 1,100,000 2389 Sqft

Occupancy - Spring 2023

Mapleview Drive East & Terry Fox Drive

$ 850,000 1537 Sqft

Occupancy - Nov 2023

Maple view drive E & Terry fox drive E

$ 700,000 686 Sqft

Occupancy - Summer 2024

Kennedy Rd & Corvette Ave

$ 1,086,000 2087 Sqft

Concession Rd 3 & Bunting Crt

$ 925,000 1955 Sqft

Occupancy - Oct 2023

Shellard Ln & Conklin Rd

. Brantford

$ 1,500,000 2250 Sqft

Occupancy - December 2023

Eglinton & Winston Churchill

$ 1,675,000 3100 Sqft

Occupancy - Sep 2023

Airport Rd & Walker Rd- II

$ 825,000 1804 Sqft

Conlin Rd E & Wilson Rd N -III

$ 949,000 1893 Sqft

Garden Street & Promenade Drive

$ 863,000 1708 Sqft

Occupancy - Fall 2023

Conlin Rd E & Wilson Rd N- II

$ 850,000 2350 Sqft

Hardy Rd & Oak Park Rd

$ 999,000 1770 Sqft

Occupancy -

Taunton Rd W & Lake Ridge Road

$ 1,425,000 2080 Sqft

Jefferson Side Rd & Yonge St- Richmond Hill

$ 610,000 1500 Sqft

Homestead Way & Uppers Ln

$ 1,200,000 1953 Sqft

Occupancy - Spring

Castlemore Avenue & York Regional Road 48

$ 1,400,000 2653 Sqft

Dryden Blvd & Anderson st

$ 2,200,000 3010 Sqft

Regional Road 25 & Britannia RD

$ 850,000 1957 Sqft

Dissette St & Holland St W

$ 799,000 1332 Sqft

Erin Mills Parkway & The Collegeway

$ 850,000 598 Sqft

Occupancy - Winter 2024

Spadina Ave & Front St W

$ 1,199,000 684 Sqft

Occupancy - June 2027

Queen St E & Church St,

$ 799,990 2152 Sqft

Occupancy - April 16, 2024

89 avenue Green Ash Avenue

Desiree Turda

Bay Street Group Inc.

$ 620,000 618 Sqft

Sky Harbour Dr, Brampton, ON L6Y 0C1

$ 1,250,000 2165 Sqft

Copper Creek Dr/Donald Cousens

$ 529,089 764 Sqft

Occupancy - Q1-2024

14th Ave SW & 12th St SW

$ 1,439,000 2514 Sqft

Coppermine St Oshawa Ontario L1H 8L7

$ 999,000 1640 Sqft

tenth line and Busato Drive

$ 2,300,000 2736 Sqft

Occupancy - April 2024

16th Ave and Markham Road

Olesya Andrianova

REVEL REALTY INC

$ 739,000 920 Sqft

Occupancy - January 2024

1010 Dundas Street East

$ 670,000 651 Sqft

Occupancy - October 2023

Burnamthorpe Road & Confederation Parkway

$ 1,695,000 2650 Sqft

Dundas & Sixth Line

$ 549,000 617 Sqft

165 Canon Jackson Drive Unit 308

Occupancy - September 2023

Airport Rd & Walker Rd

$ 625,000 1587 Sqft

Colborne St & Iroquois St

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Ontario Assignment Sale - Check out Pre construction Condos, Townhomes & Detached home assignment for sale in Ontario, Canada.

Is an assignment legal in ontario.

An assignment is a sales transaction where the original buyer of a property (the “assignor”) allows another buyer (the “assignee”) to take over the buyer’s rights and obligations of the Agreement of Purchase and Sale, before the original buyer closes on the property (that is, where they take possession of the property). The assignee is the one who ultimately completes the deal with the seller.

What is a preconstruction assignment sale?

Unless otherwise prohibited or restricted in writing in the original agreement of purchase and sale, It is mostly legally permitted. In some cases, the developer may charge the assignor a fee for this kind of sale. The best thing to do is to contact the builder directly to confirm if you are allowed to assign your purchase contract because assignment restriction and fees vary from builder to builder.

Homebaba is one of the leading online marketplace for pre-construction and assignment sales in Ontario. Check out hundreds of Ontario Assignment Sales advertised by Liscenced Real Estate Agents in Ontario. Toronto Assignment Sale - Homebaba . The listings such as assignment listings, resale listings or preconstruction project listings & description of the related pages are uploaded by Real estate agents. Homebaba does not verify the correctness of the data uploaded on its platform. Please contact the listing agent to verify the information. E&OE expected.

What is a Condo Assignment Sale? — Everything You Need to Know

What is a condo assignment sale, when does it occur.

Condo assignment sales occur before the final occupancy or closing date of a new construction property. An assignment sale occurs before the final closing of the property between the original purchaser (Assignor)  and the builder. 

As a new purchaser of an agreement, you are going to assume everything that the original purchaser agreed to in their original contract. For this reason, it is important to appoint a lawyer by your side to go over two important set of agreements. The first one is the agreement between the original purchaser and the builder. Lawyer will walk you over red flags or things like closing costs associated to the unit – remember you have to assume these terms. The second piece of agreement the lawyer will look at is the new agreement between the original purchaser (Assignor) and the new purchaser (Assignee) 

Reason for a Condo Assignment Sale

Assignment sales take place with all sort of new construction product such as townhomes, detached homes, condos, stacked townhomes & more. Why do these kinds of sales happen? The most common reason is the original buyer’s circumstances might change and present a reason to list their condo for assignment sale transactions. 

There are many reasons why one would decide to sell their unit on assignment since the gap of purchase time to occupancy is wide and can take 2-7 years depending on what type of property it is. Perhaps they will welcome a new member of their family soon and the condo just isn’t big enough for everyone. Whatever the reason, it isn’t always negative. It is important to work with professionals that can guide you throughout the process of an assignment sale.

Costs of Condo Assignment Sales​

Is selling an assignment better than a regular real estate transaction? Yes. Being the seller (assignor) is known to contain more tax fees than a unit that is already built and you’ve taken title of. As a buyer of an assignment, you do not need to observe such fees and a professional can walk you over your closing costs associated to the transaction. 

Now that you know what is a condo  assignment sale, you can therefore make an informed decision. We get a lot of questions about new condos and whether it’s better to wait or to list them for assignments right away. 

An assignment is better if you’re looking to get your money back sooner rather than later. Assignments will also see that the assignee pays the land transfer taxes and other taxes. Sometimes you can even make a profit on the market value if condo assignments are listed during a real estate boom.

It all sounds great, but selling condo assignments also has its drawbacks. For example, experienced real estate agents know it’s more difficult to sell an assignment property due to a much smaller buyer pool. Most assignment sales cannot be advertised online on platforms such as MLS. 

In most cases,, there are  marketing limitations when it comes to selling an assignment which can hurt your chances of finding a potential buyer

If you are looking for a new home sooner rather than later, an assignment sale offers closer occupancy dates, unlike purchasing something new that will only be ready in 5 years. In some cases, you may still have a chance to choose your own colours and finishes of the unit

Pros and Cons of Condo Assignment Sales for Buyers​

As a  buyers, you can expect to see advantages such as more options when choices are low. Since assignments are more complex, you typically face less competition on deals whereas in a hot market you may be in a bidding war scenario.

Pros and Cons of Condo Assignment Sales for Sellers​

The pros for assignment sellers are a shorter list compared to the ones for buyers. First of all, sellers can get their money faster and put that amount to good use such as reinvestment. Sellers will not be responsible for carrying costs such as occupancy fees or go ahead with the mortgage payments or other closing fees.

At times, the seller can also play the market and list the unit for higher than the original purchase price and make a profit. However, more often than not, sellers will have a harder time seeing offers due to marketing restrictions and a smaller buyer pool.

Since the process for assignments is also much more intricate, it will be difficult to find a  real estate professional out there that is familiar with this type of sale. For this reason, an assignment transaction can come with more complexity and would require additional knowledge. 

Now that you know what is a condo assignment sale, you can decide if it’s the route you want to take as a buyer or seller. There are more advantages from a buyer’s standpoint, but there are undeniable pros for sellers such as getting your money back faster and avoiding closing costs.

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10 Essential Things to Know About Real Estate Assignment Sales (for Sellers)

— We take our content seriously. This article was written by a real person at BREL.

What’s an assignment?

An assignment is when a Seller sells their interest in a property before they take possession – in other words, they sell the contract they have with the Builder to a new purchaser. When a Seller assigns a property, they aren’t actually selling the property (because they don’t own it yet) – they are selling their promise to purchase it, along with the rights and obligations of their Agreement of Purchase and Sale contract.  The Buyer of an assignment is essentially stepping into the shoes of the original purchaser.

The original purchaser is considered to be the Assignor; the new Buyer is the Assignee. The Assignee is the one who will complete the final sale with the Builder.

Do assignments only happen with pre-construction condos?

It’s possible to assign any type of property, pre-construction or resale, provided there aren’t restrictions against assignment in the original contract. An assignment allows a Buyer of a any kind of home to sell their interest in that property before they take possession of it.

Why would someone want to assign a condo?

Often with pre-construction sales, there’s a long time lag between when the original contract is entered into, when the Buyer can move in (the interim occupancy period) and the final closing. It’s not uncommon for a Buyer’s circumstances to change during that time…new job out of the city, new husband or wife, new set of twins, etc. What worked for a Buyer’s lifestyle 4 years ago doesn’t always work come closing time.

Another common reason why people want to assign a contract is financial. Sometimes, the original purchaser doesn’t have the funds or can’t get the financing to complete the sale, and it’s cheaper to assign the contract to a new purchaser, than it is to renege on the sale.

Lastly, assignment sales are also common with speculative investors who buy pre-construction properties with no intention of closing on them. In these cases, the investors are banking on quick price appreciation and are eager to lock in a profit now, vs. waiting for the original closing date.

What can be negotiated in an assignment sale?

Because the Assignee is taking over the original purchaser’s contract, they can’t renegotiate the price or terms of the contract with the Builder – they are simply taking over the contract as it already exists, and as you negotiated it.

In most cases, the Assignee will mirror the deposit that you made to the Builder…so if you made a 20% deposit, you can expect the new purchaser to do the same.

Most Sellers of assignments are looking to make a profit, and part of an assignment sale negotiation is agreeing on price. Your real estate agent can guide you on price, which will determine your profit (or loss).

Builder Approval and Fees

Remember that huge legal document you signed when you made an offer to buy a pre-construction condo? It’s time to take it out and actually read it.

Your Agreement of Purchase & Sale stipulated your rights to assign the contract. While most builders allow assignments, there is usually an assignment fee that must be paid to the Builder (we’ve seen everything from $750 to $7,000).

There may be additional requirements as well, the most common being that the Builder has to approve the assignment.

Marketing Restrictions

Most pre-construction Agreements of Purchase & Sale from Toronto Builders do not allow the marketing of an assignment…so while the Builder may give you the right to assign your contract, they restrict you from posting it to the MLS or advertising it online. This makes selling an assignment extremely difficult…if people don’t know it’s available for sale, how they can possibly buy it?

While it may be very tempting to flout the no-marketing rule, BE VERY CAREFUL. Buyers guilty of marketing an assignment against the rules can be considered to have breached the Agreement, and the Builder can cancel your contract and keep your deposit.

We don’t recommend advertising an assignment for sale if it’s against the rules in your contract.

So how the heck can I find a Buyer?

There are REALTORS who specialize in assignment sales and have a database of potential Buyers and investors looking for assignments. If you want to be connected with an agent who knows the ins and outs of assignment sales, get in touch…we know some of the best assignment agents in Toronto.

What are the tax implications of real estate assignment?

Always get tax advice from a certified accountant, not from the internet (lol).

But in general, any profit made from an assignment is taxable (and any loss can be written off). The new Buyer or Assignee will be responsible for paying land transfer taxes and any HST that might be due.

How much does it cost to assign a pre-construction condo?

In addition to the Builder assignment fees, you will likely have to pay a real estate commission (unless you find the Buyer yourself) and legal fees. Because assignments are more complicated, you can expect to pay higher legal fees than you would for a resale property.

How does the closing of an assignment work?

With assignment sales, there are essentially 2 closings: the closing between the Assignor and the Assignee, and the closing between the Assignee and the Builder. With the first closing (the assignment closing) the original purchaser receives their deposit + any profit (or their deposit less any loss) from the Assignee. On the second closing (between the Builder and the Assignee), the Assignee pays the remaining amount to the Builder (usually with the help of a mortgage), and pays land transfer taxes. Title of the property transfers from the Builder to the Assignee at this point.

I suppose it could be said that there is a third closing too, when the Buyer takes possession of the property but doesn’t yet own it…this is known as the interim occupancy period. The interim occupancy occurs when the unit is ready to be occupied, but not ready to be registered with the city. Interim occupancy periods in Toronto range from a few months to a few years. During the interim occupancy period, the Buyer occupies the unit and pays the Builder an amount roughly equal to what their mortgage payment + condo fees + taxes would be. The timing of the assignment will dictate who completes the interim occupancy.

Assignments vs. Resale: Which is Better?

We often get calls from people who are debating whether they should assign a condo they bought, or wait for the building to register and then sell it as a typical resale condo.

Pros of Assigning vs. Waiting

• Get your deposit back and lock in your profit sooner
• Avoid paying land transfer taxes
• Avoid paying HST
• Maximize your return if prices are declining and you expect them to continue to decline
• Lifestyle – sometimes it just makes sense to move on

Cons of Assigning vs Waiting

• The pool of Buyers for assignment sales is much smaller than the pool of Buyers for resale properties, which could result in the sale taking a long time, getting a lower price than you would if you waited, or both.
• Marketing restrictions are annoying and reduce the chances of finding a Buyer
• Price – What is market value? If the condo building hasn’t registered and there haven’t been any resales yet, it can be difficult to determine how much the property is now worth. Assignment sales tend to sell for less than resale.
• Assignment sales can be complicated, so you want to make sure that you’re working with an agent who is experienced with assignment sales, and a good lawyer.

Still thinking of assignment your condo or house ? Get in touch and we’ll connect you with someone who specializes in assignment sales and can take you through the process.

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Raj Singh says:

What can be things to look for, especially determining market value for an assigned condo? I’m the assignee.

Sydonia Moton says:

Y would u need a lawyer when u buy a assignment property

Gideon Gyohannes says:

Good clear information!

Who pays the assignment fee to the developer? Assignor or Assignee?

Thanks Gideon 416 4591919

Melanie Piche says:

It’s almost always the Seller (though I suppose could be a point of negotiation).

Fiona Rourke says:

If there are 2 names on the agreement and 1 wants to leave and the other wants to remain… does the removing of 1 purchaser constitute an assignment

Brendan Powell says:

An assignment is one way to add or remove people from a contract, but not the only way…and not the simplest. Speak to your lawyer for advice on what makes the most sense for your specific situation. For a straightforward resale purchase you could probably just do an amendment signed by all parties. If it’s a preconstruction purchase with various deposits paid, etc it could be more complicated.

Katerina says:

Depends on the Developer. Some of them remove names via assignments only.

Haroon says:

Is there any difference in transaction process If assigner or seller of a pre constructio condo is a non resident ? Is seller required to get a clearance certificate from cRA to complete the transaction ?

Nathalie says:

Hello , i would like to know the exact steps for reassignment property please.

Amazing info. Thanks team. I may just touch base with you when my property in Stoney Creek is completed in. 2020. I may need to reassign it to someone Thanks

Victoria Bachlowa says:

If an assignor renegs on the deal and refuses to close because they figured out they could get more money and the assignment was already approved by the builder and all conditions fulfilled what can the Assignee do. I have $33,000 dollars in trust in the real estate’s trust fund. They sent me a mutual release which I have not signed. The interim occupancy is Feb. 1 and the closing is schedule for Mar. 1, 2019. I have financing in place, was ready to move in Feb. 1 and I have no where to live.

Definitely talk to your lawyer right away. They’ll want to look at your agreement of purchase and sale and will be able to advise you.

With assignment sales, there are essentially 2 closings: the closing between the Assignor and the Assignee, and the closing between the Assignee and the Builder. With the first closing (the assignment closing) the original purchaser receives their deposit + any profit (or their deposit less any loss) from the Assignee. Can I assume that these closing happen at the same time? I’m not sure how and when I would be paid as the Assignor.

What happens to the deposits or any profits already paid if the developer cancels the project after an assignment?

Hi, Did you get answer to this? I did an assignment sale last year and now the builder is not completing apparently and they are asking for their money back. Can they do that? After legal transactions, the lawyer simply said “the deal didn’t go through”. Apparently builder and the person who assumed the assignment agreed on taking out the deal. What do I have to pay back after it was done a year ago

This is definitely a question for your lawyer – as realtors we are not involved in that part of the transaction. I would expect that just as the builder would have to refund your deposits, you would likely need to do the same…but talk to your lawyer. As to whether the builder can cancel a project, yes they always reserve that right (but the details of how and under what circumstances would be in your original purchase agreement). It’s one of the annoying risks in buying preconstruction!

I completed the sale of my assignment in Dec 2015 however the CRA says I should be reporting the capital income in 2016 when the assignee closed his deal with the developer in July 2016. That makes no sense to me since I got all my money in Dec 2015. Can you supply any clarification on that CRA policy please?

You’d have to talk to the CRA or an accountant – we’re real estate agents,so we can’t give tax advice.

Hassan says:

Hello, You said that there are two closings. The first one between the assignor and the assignee and the second one between the builder and the new buyer (assignee). My question is that in the first closing does the assignee have to pay the assignor the deposit they have paid and any profit in cash or will the bank add this to the assignee’s mortgage?

The person doing the assigning usually gets their money at the first closing.

Kathy says:

What is the typical real estate free to assign your contract with the builder ?

Hi Kathy While we do few assignments (as they are rarely successful, and builders do not make it easy), in past we have charged more or less the same as we do for a typical resale listing. While there are elements to assignments that should be easier than a resale (eg staging), many other aspects of assignments are much MORE time-consuming, and the risk much higher since attempts to find a buyer for assignments are often unsuccessful. It’s also important to note that due to the extra complication, lawyer’s fees to assign are typically higher than resale as well–although more $ for the purchase side vs the sale side.

Mitul Patel says:

If assignee has paid small amount of deposit plus the original 25% deposit that the assignor has paid to the builder and gets the Keys to the unit since interim possession has been completed, when the condo registration is done and assignee is getting mortgage from the Bank or Pays the remaining balance to the Builder using his savings and decides not to pay the Balance of the Profit amount to Assignor, what are the possibilities in this kind of scenario?

You’d need to talk to a lawyer to find out the options.

David says:

How much exactly do brokers get paid at sale of Assignment? i.e. Would the broker’s fee be a % of your assignment selling price or your home’s selling price? I’m really looking for a clear answer.

I am using this website’s calculator associated with selling your home in Ontario. But there is no information on selling assignments. https://wowa.ca/calculators/commission-calculator-ontario

Realtors set their own commission, so there is no set fee- that website is likely the commission that that agent offers. We often see commissions of 4-5% for assignments. The fee is a % of the price of the assignment – for example, you originally bought for $500K; you’re now assigning for $600K – commission would be payable on the $600K.

Candace says:

Question: if i bought a pre construction condo, can i sell it as soon as it closes or do i have to live in it for 1 year after closing in order to avoid capital gains taxes?

Or does the 1 year start as soon as you move in?

I would suggest you talk to your accountant re: HST credit implications and capital gains, but if you sell it for more than you paid for it, capital gains usually apply.

You mention avoid paying HST when you assign your property. What is the HST based on? It’s not a commercial property that you would pay HST. Explain. Thanks.

HST and assignments are complex and this question is best answered specific to your situation by your accountant and real estate lawyer. In some cases HST is applicable on assignment profits – more details can be found on the CRA website here:

https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/gi-120/assignment-a-purchase-sale-agreement-a-new-house-condominium-unit.html

If you are a podcast listener, the true condos podcast is also a great resource.

https://truecondos.com/cra-cracking-down-on-assignments/

heres one for your comment, purchase pre construction from builder beginning of 2021, to be finished end of 2021, (semi detached) here we are end of 2022, both units are now ready. Had one assigned but because builder didnt accept within certain time frame(they also had a 90 day clause wherein we couldnt assign prior to 90 less firm closing date (WHICH MOVED 4 TIMES). Anyrate now we have a new assinor but the builder says we are in default from the first one and wants 50k to do the assignment (the agreement lists the possibility of assigning for 12k) Also this deal would include us loosing our whole deposit and paying the 12k(plus fees) would be in addition too the 130k we are already loosing. The second property we are trying to close but interest rates are riducous, together with closing costs(currently mortgage company is asking that my wife be added to that one, afraid to even ask this builder. Any advice on how to deal with this asshole greedy builder? We are simply asking for assignment as per contract and a small extension for the new buyer(week or two) Appreciate any advice. Thank you

Dealing with builders/developers can be extremely painful, much worse than resale transactions in our experience. Their contracts are written to protect THEM. Unfortunately all I can say is follow the advice of your lawyer.

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