In slow or downturn markets, it’s common for some buyers to try to get out of pre-sale contracts. They do so by ‘assigning’ the contract. This is when one party to an existing contract (the "assignor") transfers the contract's obligations and benefits to another party (the "assignee"). In most cases, developers don’t allow them to advertise on MLS, so we’ve included a few current examples of new assignments below:
#201 - 2688 Duke Street
1 BED | 1 BATH | 630 SQ. FT. INDOOR | 208 SQ. FT. OUTDOOR PATIO
#1004 - 1633 Capilano Road
North Vancouver, BC
1 BED | 1 BATH | 580 SQ. FT.
5706 - 1289 Hornby Street
2 BED | 2 BATH | 1,623 SQ. FT.
The details of an assignment are extremely complex as there are many variables that require expert help. If you’re interested in shopping assignments or have any questions of what the nitty-gritty of taking over an existing contract would look like, feel free to send us an email or give us a call!