The Zadegan Group

Assignment

Work With The #1 Team In Assignment Transactions In Canada Canada Flag

#1

Real Estate Team By Volume Selling Assignments By Volume In Canada

200+

Assignments Listed In 2024

5

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What Is An Assignment Property?

An Assignment is a sale of a contract, meaning you are purchasing a pre-construction contract from a seller that currently owns that pre-construction unit. This pre-construction seller could have purchased this unit 1, 2, 3 or even 6-7 years ago from a builder during the pre-construction phase of that project. You would be purchasing that contract from the seller by way of an assignment and taking over the rights and responsibilities of the original contract. When an assignment sale takes place, the builder is involved in transferring the name of the contract to you as the new purchaser and the assignment transaction closes. These deals are all off-market so you won’t see them on MLS

What Is The Process Of An Assignment Sale?

1
Offer
Once we find a unit you like, we put an offer. The offer is typically a conditional offer on lawyer review and potentially financing if you need to ensure approval with bank. We draft the offer with the proper clauses to protect you in the sale and receive acceptance.
2
Conditions
Once we are in our conditional period, the lawyer needs to review two contracts. First, the assignment contract to ensure all the clauses are to the lawyers approval. Second, they review the original contract. Just by virtue of how an assignment works, you are buying an original buyers pre-construction contract so the lawyer will ensure you understand what you are purchasing.
3
Consent
Once we have waived all our conditions we are still conditional on builders consent. The builder needs to approve the assignment and prepare a consent contract to transfer the name on the original agreement from the sellers name to your name. This is your official assignment closing 🎉
4
Occupancy
Once consent has been granted, we wait until occupancy. If the unit you purchased is already in occupancy, great! If it’s not, then you’ll need to wait until the builder grants occupancy. Occupancy is when the builder gives you the keys to your new unit and you start paying an interim occupancy fee. This is not the time for mortgage as of yet.
5
Final Closing
The builder will notify you about your upcoming final closing. Once the building is fully completed and the builder is ready to register with the city, they notify you to prepare for final registration. Final registration is the time that you need to have your mortgage in place. Speak to your lender and close on final closing and now the title of the unit is officially yours!
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We’d Love To Hear From You

We’d love to hear about what you are looking for. Whether you are looking to sell a pre-construction contract you have or looking to purchase an assignment, out team would be happy to help!

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Featured Properties

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Step 1

John Doe finds a great pre-construction development and purchases a unit in the building. At this stage, John Doe is actually purchasing the rights to the unit via a purchase agreement, since the building is not completed.

Step 2

Before the building is completed and registered, John Doe has a change of heart. Perhaps he’s relocating or his family has grown since his initial purchase and he needs more space. Since the completion of a pre-construction development can take a few years, this is quite common.

Step 3

Due to the assignment clause in his purchase agreement, he is able to sell the contract for his unit. John Doe reaches out to The Zadegan Group for help — he knows they are the local experts in pre-construction and assignment sales, and trusts their expertise.

Step 4

The Zadegan Group takes on the sale of his contract, and with their established knowledge of the process and network of qualified buyers, are able to quickly find a buyer.

Step 5

The Zadegan Group guides both parties through a hassle-free sale; the buyer is excited to have purchased a unit in a building they originally missed out on, and John Doe has recouped his investment.

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How Buyers Benefit

Buying an assignment property is a fantastic opportunity for buyers for many reasons:

Better Opportunities: Oftentimes, buyers miss their chance on a pre-construction project and have to wait years for a unit in the building to come on the market. With assignments, buyers can get into their dream building earlier, sometimes just a few months before occupancy.

Less Competition: Assignments are a lesser-known purchasing option, therefore, fewer buyers pursue them. Assignment buyers can usually avoid stressful multiple offer scenarios and leverage a seller’s need to sell quickly.

A Brand New Space: Assignment buyers reap the benefits of purchasing in a brand new building. If they purchase early on in the process, they can usually select their finishes and upgrades, depending on the builder and contract.

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Selling An Assignment Property

Have you invested in a pre-construction unit that you now want to sell? The Zadegan Group is your key to a smooth assignment sale. Here are the advantages of selling your assignment with our team:

An Extensive Database: There are certain advertising restrictions for assignment sales (set by the builder) that make it more important than ever to work with a well-connected team. Our global network and established database of buyers will help your assignment reach a large number of people and sell for the highest possible price.

Exclusivity: Every aspect of your sale will be handled exclusively by our team, with support from our extended team of trusted professionals.

Swift Profits: With years of experience selling assignments, we have the expertise needed to help you secure your equity as quickly as possible and will ensure your profits reflect current market values.

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24 Hours

We maximize exposure for your assignment through our extensive network, ensuring visibility across multiple platforms.

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Buying or Selling an Assignment? Let’s Talk.

As Ontario’s #1 Assignment Team, we make assignment deals seamless, strategic, and successful — whether you're exiting or entering a project.

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The Zadegan Group

Contact Details

Phone

1-833-ZADEGAN

Email

[email protected]

Address

52 Scarsdale Road #208 M3B 2R7 North York ON

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