Assignment Sales Explained
An assignment lets you transfer your purchase agreement to another buyer before closing. Whether you can do it depends on your agreement.
Check the clause
Many agreements restrict or prohibit assignments, or allow them only with builder consent and a fee. Review this clause before signing if flexibility matters to you.
Costs and tax
Expect an assignment fee, legal fees and possibly HST on the profit. Profits may be taxed as income, and anti-flipping rules can apply to short holds.