Tuesday Jul 28th, 2020
What all negotiations can one make in an assignment sale?
• Original terms and conditions with the builder
• Usual risks of pre-construction – time delays, changes to unit/
• Finishes and upgrades – Can new buyers choose?
• HST impacts
• Consent of Builder
• Restrictions on assignment?
• Assignment fees
• Land Transfer tax savings
• Review of original APS by a new buyer
• RECO advises anyone participating in an assignment to seek the
advice of a tax specialist. Generally, assignors can expect to pay
tax on any profits they realized from the assignment. Land
transfer taxes are paid by the assignee, as they are only due
when the sale closes (that is when the property actually