Musenna Ucar, REALTOR® Salesperson

Realty Wealth Group Inc., Brokerage

Türkçe
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01 Assignments

Sell before closing.
Or buy below today’s price.

An assignment transfers a pre-construction contract from the original buyer to a new one before the building closes. It is the kind of deal at the centre of my practice: for sellers who need out, and for investors who want in.

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A

Two sides of one contract

Selling · the assignor

Your plans changed before the building did.

The closing is near, the mortgage numbers no longer work, or you would rather take the gain, or limit the loss, now.

  1. Read the agreement. The assignment clause, the builder’s consent conditions and fee, what may be advertised, and every deadline.
  2. Price it. Today’s comparable sales and assignments, the deposits you have in, and what a buyer will still have to close.
  3. Find the buyer. Investors and end buyers who buy assignments, reached through the channels your builder allows.
  4. Coordinate to the date. The assignment agreement, the builder’s consent and both lawyers, until it closes.

Buying · the assignee

A new home at today’s price, or under it.

You want a new condo or townhouse without the long wait, or an investment priced below what builders ask today.

  1. Find it. Listed and off-market assignments, including sellers working against a deadline.
  2. Check the contract you step into. Closing-cost terms, occupancy dates, the builder’s conditions.
  3. Run the numbers. Deposits to reimburse, the balance at closing, financing and HST.
  4. Close on time. Offer, builder’s consent, closing: a buyer who can close is the buyer who wins.
B

The timeline

Where is your contract on the calendar?

Choose a stage. The drawing shows the building; the red band is the window in which the contract can still be assigned.

The assignment window: from signing until final closing.

How an assignment moves through time: choose a stage

Stage 1 of 5

Agreement

You sign the agreement of purchase and sale with the builder, usually years before anything is built. New condominium purchases come with a short cooling-off period to review it with a lawyer.

If you are selling (assignor)

Read the assignment clause now, not later: whether you may assign at all, from when, what the builder charges for its consent, and whether the unit may be advertised on MLS.

If you are buying (assignee)

If you buy an assignment later, this is the contract you step into: its price, its deposit schedule, its closing-cost terms and its dates all become yours.

Stage 2 of 5

Deposits

Deposits are paid on a schedule over the months or years of the build. Until occupancy, they are usually the only money you pay the builder.

If you are selling (assignor)

Every deposit you have paid is reimbursed by the buyer when the assignment completes, on top of any profit. Your deposit total sets the size of that cheque.

If you are buying (assignee)

You repay the deposits the seller has made so far; the balance of the price is not due to the builder until final closing. Less cash today, a mortgage later.

Stage 3 of 5

Construction

The structure goes up and the builder confirms, or moves, the occupancy dates. This is where most assignments are bought and sold: time to market the unit, find a buyer and get the builder’s consent.

If you are selling (assignor)

Plan backwards from the dates. Builders often set a deadline for assignments well before closing, and their consent takes time. The earlier you decide, the more buyers will see it.

If you are buying (assignee)

You are buying at a fixed price for a home finished later. Check the latest occupancy date, the assignment terms and what the closing costs will be.

Stage 4 of 5

Occupancy

For condominiums, interim occupancy: the unit is ready and the buyer can move in before the building is registered, paying a monthly occupancy fee instead of a mortgage.

If you are selling (assignor)

Occupancy fees start and the calendar speeds up. An assignment is often still possible here, subject to the builder, but the buyer pool is the one that can close soon.

If you are buying (assignee)

A finished unit you can walk through before you commit. Ask what the occupancy fee is and when registration is expected.

Stage 5 of 5

Final closing

The building is registered, title transfers, and the buyer pays the balance and the closing adjustments, usually with a mortgage. After this the contract can no longer be assigned: a sale becomes a resale.

If you are selling (assignor)

Miss the line and you close yourself, mortgage and all. Deals at this edge are won by speed and by working with the builder: some of mine closed days before it, and one after it had passed.

If you are buying (assignee)

Arrange financing early: lenders appraise near closing, and a buyer who can close on time is the buyer a seller near the line will choose.

At this line, from my record

  1. Closed Apr 2025
    Milton
    Townhouse, 3 bedrooms
    Assignment sale
    Acting for the Seller
  2. Closed Mar 2025
    Oakville
    Condo, 2 bedrooms
    Assignment purchase
    Acting for the Investor
  3. Closed Jan 2025
    Mississauga
    Condo, 1 bedroom + den
    Assignment sale
    Acting for the Seller

General information about Ontario pre-construction contracts, not legal or tax advice. Every builder’s agreement is different; read yours with a lawyer.

C

The math

What changes hands, and when.

Put in your own figures, or try a scenario. When prices have fallen far enough, the seller ends up paying the buyer: it happens, and it can still be the better decision.

Try a scenario

The buyer pays you now
$200,000
Your deposits back, plus or minus the change in price, paid when the assignment completes.
The buyer owes the builder at final closing
$560,000
The rest of the original price, plus closing adjustments, usually with a mortgage.
Your gain, before tax
$42,000
Assignment price minus your purchase price and selling costs.

An estimate for planning a conversation, not an appraisal or advice. HST can apply to assignment proceeds, and every builder’s agreement sets its own fees and conditions: confirm with your lawyer and accountant.

D

From my record

Assignments I have closed.

For sellers and for investors, from one-week sales to a deal revived after its closing date had passed.

  1. Closed Jan 2026
    TorontoDowntown
    Condo, one bedroom
    Assignment purchase
    Acting for the Investor
    A rare buy: the seller forfeited deposits to assign the contract to my investor client. Finalized and closed.
  2. Closed Sep 2025
    Richmond Hill
    Townhouse, 3+1 bedrooms
    Assignment sale
    Acting for the Seller
    Sold as an assignment before the final closing, and closed.
  3. Closed Apr 2025
    Mississauga
    Condo, 2 bedrooms
    Assignment purchase
    Acting for the Investor
    The seller (assignor) paid the buyer (assignee) to take over the contract: my investor client was paid to buy.
  4. Closed Apr 2025
    Milton
    Townhouse, 3 bedrooms
    Assignment sale
    Acting for the Seller
    The offer came three days before closing, with the assignment deadline and the final closing already due. The builder granted an extension; the assignment was finalized and closed within two weeks.
  5. Closed Apr 2025
    TorontoDowntown
    Condo, 2 beds + media
    Assignment sale
    Acting for the Seller
    A long journey that took some time, seen through to closing.
  6. Closed Mar 2025
    Oakville
    Condo, 2 bedrooms
    Assignment purchase
    Acting for the Investor
    The final closing had already passed. We submitted an offer, negotiated with the builder to revive the deal and extend the closing, and it was assigned and closed within a week.
  7. Closed Jan 2025
    Mississauga
    Condo, 1 bedroom + den
    Assignment sale
    Acting for the Seller
    A tight timeline: sold just two days before the final closing.
  8. Closed Jan 2025
    TorontoDon Mills
    Condo, 2 bedrooms + den
    Assignment sale
    Acting for the Seller
    A high-pressure listing with a tight timeline, sold and closed.
  9. Closed Nov 2024
    Mississauga
    Condo, 2 bedrooms
    Assignment sale
    Acting for the Seller
    A swift sale and closing, coordinated with the builder and both legal teams.
  10. Closed Oct 2024
    Pickering
    Townhouse, 3+1 bedrooms
    Assignment sale
    Acting for the Seller
    A quick sale and closing as an assignment.
  11. Closed Sep 2024
    Mississauga
    Condo, 1+den
    Assignment sale
    Acting for the Seller
    We had one week to find the buyer and get the builder’s assignment consent. Sold and closed in one week.
  12. Closed Sep 2024
    TorontoScarborough
    Condo, 2 bedrooms
    Assignment sale
    Acting for the Seller
    Sold and closed in one week.
E

Questions

Straight answers.

Can every pre-construction contract be assigned?

No. Some agreements forbid it; others allow it only after a certain point, only with the builder’s written consent and a fee, or without advertising on MLS. The assignment clause in your agreement decides, so it is the first thing I read.

Who pays my deposit back?

The buyer. When the assignment completes, the buyer reimburses the deposits you have paid the builder, plus any profit you agreed. The builder keeps the deposits as part of the price, and the buyer pays the balance at final closing.

What if prices have fallen after I bought?

Then the difference comes out of your deposit. If the drop is larger than the deposit, the seller can pay the buyer to take over the contract, which may still cost less than closing on a unit you no longer want. My record includes a deal where exactly that happened, with my investor client on the buying side.

Is HST charged on an assignment?

For new residential property it generally is, on what the buyer pays for the assignment beyond the deposits being reimbursed. How it is collected and who bears it is settled in the assignment agreement. Confirm your case with an accountant before you sign.

Can a contract be assigned after the final closing date?

Normally not: after final closing the property is resold, not assigned. Sometimes a builder will agree to revive the deal and extend the closing. I have done it: in Oakville in 2025 the closing had already passed, and the deal was revived, assigned and closed within a week.

How long does an assignment take?

It depends on the builder’s consent process and the buyer’s financing. In my record the fastest went from finding the buyer to closing in one week. Your agreement’s deadlines and the builder’s consent process set the pace.

General information, not legal or tax advice.

F Consultation

Selling or buying an assignment?

Send me the project, your purchase price and your closing date, and I will tell you where you stand: what it could sell for, what you would get back, and how much time you have.

Musenna Ucar, REALTOR® Salesperson
Realty Wealth Group Inc., Brokerage

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