Life happens. Plans change. Here is how you can sell your pre-construction contract before the building is even finished.
You bought a condo 3 years ago. Now, it's almost ready, but your life has changed. Maybe you moved cities, got married, or just want to cash out your profits.
Enter the Assignment Sale.
What is an Assignment?
You aren't selling the condo (because you don't own it yet). You are selling your contract—the right to purchase the condo—to a new buyer.
Why Do It?
1. Profit Taking: If you bought for $500k and it's now worth $700k, you can assign the contract and walk away with the difference (minus fees) without ever getting a mortgage.
2. avoiding Closing Costs: If you can't qualify for a mortgage anymore, assigning is your escape hatch.
The Catch
Assignments are complex. You need:
- Developer permission (some charge a fee)
- A specialized lawyer
- An agent who knows how to market these (since they often can't be listed on MLS)
We specialize in assignment sales. If you're looking to buy a "distressed" assignment deal or sell yours, we have a private network of investors ready to move.
Precon Factory Team
Real Estate Investment Expert
Helping GTA buyers navigate the pre-construction market with data-driven insights and personalized guidance.