How to Buy an Assignment in British Columbia

A presale assignment is the purchase of a contract before the original presale unit completes. Instead of buying directly from the developer, the buyer takes over the seller's contract subject to developer consent and legal review. Assignments can create opportunities when a seller needs to exit or when a buyer wants a nearly complete home that is no longer available from the developer.

The key assignment checks are original purchase price, deposits already paid, assignment price, GST responsibility, developer assignment fee, completion timing, financing, floor plan, parking, storage and whether the developer must approve the transfer. Buyers should also compare the assignment against current resale and presale alternatives to confirm whether the premium or discount is justified.

BC assignment deals require careful paperwork because the buyer inherits the original contract terms. A complete review should include the disclosure statement, amendments, original contract, deposit receipts and developer assignment documents. The Presale Properties team helps buyers compare assignment economics, confirm the numbers and coordinate next steps with lawyers and developer sales teams.