Presales 101: Assignment of Contracts - What They Are & How They Work in BC

Описание: What is an assignment of contract and how does it work with presale properties? In this video, Mariko & Kiyomi go over what an assignment of contract (AOC) is for presale properties, who the assignor vs the assignee is, the process itself, costs, & so much more. If you are thinking of being either a seller or buyer in an assignment of contract process, this is one you'll want to watch!

Buying a presale is quite different from resale, so it's important to work with a realtor with experience in presales. At Bridgewell, our team has extensive experience with presales and assignment of contracts. If you're looking for a presale realtor, reach out to our team today!

0:00 • Introduction
1:15 • What is an assignment of contract (AOC) & who's involved?
2:10 • Important note: with an AOC you are selling the CONTRACT not the property
2:30 • The assignment of contract process
2:50 • Common reasons people assign a property
4:00 • What is a lift in regards to AOCs?
4:35 • Feasibility of AOCs
4:50 • Are there restrictions to AOCs?
5:50 • Common restrictions to AOCs
9:00 • What are the assignment fees?
10:10 • Typical costs for AOCs
10:20 • Costs for assignor
10:50 • When are the assignment fees due?
12:05 • Costs for assignee
13:50 • When are the deposit & lifts due?
17:30 • Example of a deposit & lift breakdown
21:35 • Recap & Conclusion - Reach out to us for all your presale needs & exclusive VIP access to projects & incentives all over the Greater Vancouver & Fraser Valley!

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