Assignments
What is an Assignment?
A condo assignment refers to a real estate transaction in which the original buyer (assignor) of a pre-construction or under-construction condominium unit sells the rights to purchase that unit to another buyer (assignee) before the unit’s completion or before the original buyer takes possession of it. In essence, the original buyer assigns their purchase contract to a new buyer, and the new buyer assumes the rights and obligations of the original contract, including the agreed-upon purchase price and terms.
The original buyer (assignor) may decide to sell the assignment if they believe they can make a profit before the unit is completed, allowing them to capitalize on potential price appreciation without having to take possession or complete a final closing on the property. The original buyer may also decide to sell the assignment if they are unable to qualify for a mortgage. These are frequently referred to as “distressed” assignments.
New buyers (assignees) may see condo assignments as an opportunity to purchase a property that is in high demand, no longer available through the developer, or a property which is being offered at a great price due to seller distress.
Current Assignment Listings
| Project Name | Type | Location | Price | SQ.FT. | # of Beds | # of Baths | Parking | Locker | Photos | Closing Date | Builder Name | Deposits Paid | Location | Agent Name |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| M City 2 | Condo | Square One | $549,000 | 545 | 1 | 1 | 1 | 1 | Link | November, 2023 | Rogers Real Estate | $79,280 | Mississauga | MICHAEL SOUDEBOV |
| The Beverley | Condo | Thornhill | $925,000 | 1,046 | 3 | 2 | 1 | 1 | December, 2023 | The Daniels Corporation | TBA | Thornhill | MICHAEL SOUDEBOV | |
| CG Tower | Condo | VMC | $515,000 | 578 | 1 | 1 | 0 | 0 | April, 2024 | Cortel Group | $70,338 | Vaughan | MICHAEL SOUDEBOV | |
| OMG2 | Condo | Churchville | $625,000 | 611 | 1 | 1 | 1 | 0 | November, 2023 | The Daniels Corporation | $62,500 | Brampton | MICHAEL SOUDEBOV | |
| Mobilio South Tower | Condo | VMC | $732,000 | 645 | 2 | 1 | 1 | 1 | TBA | Menkes | $109,200 | Vaughan | MICHAEL SOUDEBOV | |
| Peter & Adelaide | Condo | Entertainment District | $899,000 | 757 | 2 | 2 | 1 | 1 | October, 2023 | Graywood | $125,000 | Toronto | MICHAEL SOUDEBOV |
We can help you narrow down or find other projects that suit your needs.