Category: Featured Post

Pre-construction sales of residential property are defined by the fact they are real estate transactions on property not yet built, or where construction is not yet finished. A Developer markets a property for pre-sale and usually sells a certain number of units before construction will commence. If you’ve bought a presale condo as an investment,…

What Is A Presale Assignment? Presale real estate contracts are those entered into before the residential unit has been built, or construction is not yet complete. Generally, buyers of presale units are permitted, under certain circumstances, to sell those Contracts to a third party, which is known as an Assignment. Often, but not always, the…

In Vancouver, many condos are sold by way of presales. This means the developer pre-sells the units, or a portion of the units in the building, before construction begins. This is done for a variety of reasons including reducing their own financing costs and inventory, as well as lowering the risk to the Developer. But…

An assignment sale is defined as a sale of the property by a buyer to another person before or during the construction of the property, or during any time before the buyer takes possession. The benefit for new condo buyers who buy assignments is that they can enter into a deal early and usually get…

What is an assignment? As the name implies, an assignment is when the original buyer of a property gives up their rights to that contract and assigns it to another buyer (Assignee).  An assignment is different from a sale of property because in a sale both parties (the seller and buyer) are involved; and in…

An assignment sale is when a property is sold before it has been built. This usually happens with condos or houses, but can also occur with other types of properties such as apartment buildings or commercial buildings.  The original buyer of the property pays the builder an additional fee (Assignment Fee) to allow him to…