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If you have purchased a property in a development which is still under construction and wish to re-sell your unit today, you must do so by way of an assignment sale.

The first step is to confirm and clarify the terms of your contract as to the conditions and costs (some contracts restrict assignments) associated with an assignment, usually the developer charges an administrative fee which is your responsibility in addition to any applicable commission charges.

Assuming that your Purchase and Sale Agreement allows you to assign the contract prior to completion you may do either of the following:

1. Find a buyer on your own - in which case you would be responsible for any administrative fees, advertising costs, contract preparation and legal costs associated with the assignment.
2. Hire a Real Estate Company such as Condotoday Rennie Marketing to handle the listing and sale process for which a commission fee will be charged
   Please be advised that because you technically do not own the property yet, listing the unit for sale on MLS is restricted unless permission is granted by the developer.

Selling an assignment is a complex real estate sale, should you assign your unit and the new buyer defaults at completion it is still the responsibility of the original buyer to close on the transaction. Click on Buying an Assignment for an example of an assignment transaction as to how funds are typically due and payable, we strongly recommend that you seek independent legal and financial advice before proceeding.

Should you decide to proceed with an Assignment Sale through Rennie Resales - Rennie Marketing Systems we will implement our Condo Assignment Sales System which includes the following:

If you have any questions or require further assistance please contact us.