Can I sell an assignment sale?
Can you turn an assignment sale into cash? Read this first — a direct, step-by-step plan to sell an assignment sale profitably.
Quick answer: Yes — but follow the rules
Yes, you can sell an assignment sale for a condo. Assignment sales are legal transfers of the original buyer’s rights in a pre-construction or resale condo purchase agreement to a new buyer. They are common in hot markets. But you must navigate developer clauses, lawyer review, and timeline risks.
What an assignment sale means for sellers and buyers
- Assignment sale: the original buyer (assignor) transfers their purchase agreement to a new buyer (assignee).
- Assignment fee: many contracts allow the assignor to charge a premium for transferring the contract.
- Developer approval: most builders require written consent and often charge an assignment fee or administration charge.
- Closing and deposits: the assignee typically steps into the original buyer’s position for deposits and closing obligations.
Step-by-step checklist to sell an assignment sale (practical and fast)
- Read your purchase agreement now. Look for an “assignment clause”. That clause sets your rules and fees. If you don’t understand it, stop and call a lawyer.
- Contact the developer immediately. Ask about their assignment process, forms, and approval timeline. Some developers block assignments or charge extra fees.
- Get a real estate lawyer who handles assignment sales. They will prepare the assignment agreement, handle closing documents, and confirm what funds are refundable or transferable.
- Price it right. Compare recent pre-construction and resale condo sales. Assignment buyers pay a premium for earlier possession or upgraded units. Use market data to set a competitive assignment price.
- Disclose everything. Provide signed purchase agreement copies, deposit receipts, and builder correspondence. Transparency speeds approvals and builds buyer trust.
- List with a realtor experienced in assignment sales. They will market to investors and buyers looking for quicker possession than new-build timelines.
- Manage timelines. Developer approval can take weeks. Ensure your buyer can meet deposit and financing windows.
- Close with a lawyer and follow developer instructions for assignment funds and documentation.
Common pitfalls to avoid
- Ignoring the assignment clause — you can lose money or be denied approval.
- Skipping a lawyer — assignments are legal transfers and require precise documents.
- Overpricing based on wishful thinking — market comparables matter.
- Not confirming mortgage transferability — not all lenders allow assignment financing.
Why use a local assignment sale specialist
Assignment sales move fast. You need someone who knows builder processes, legal steps, and where buyers live in the market. Tony Sousa is a top-selling condo agent for assignment and resale markets. He guides you through developer approvals, pricing, and closing, so you avoid delays and unexpected fees.
Ready to sell an assignment sale or want a free strategy call? Contact Tony Sousa at tony@sousasells.ca or 416-477-2620. Visit https://www.sousasells.ca for listings and client success stories.
Sell smart. Protect your deposit. Capture market value.
