WHAT IS A CONTRACT/CONDO ASSIGNMENT?
A pre-sale condo or contract assignment is when the original buyer of a condo sells their rights to another Buyer before that condo is completed, this is known as "Flipping your unit before Notary". The reason the word “Assignment” is used is because the original buyer assigns their rights over to the new buyer and the assignment must be witnessed/signed off by the developer and in some cases a fee will apply.
Is it allowed in Quebec?
Yes and no, it depends on the developer in question and we encourage you to meet with us regarding an given project to know what the "fine-print" entails and let us guide you to ensure your making a well-informed investment.
Have a unit to assign? Complete the below form:
