Assignment of Purchase and Sale
Close your real estate transaction with confidence. Available for virtual and in-person closing, we bring legal expertise to you in the most convenient and affordable way.
Advantages of New Home Assignments
Buying or selling a house in Ontario? You’ll need a written agreement of purchase and sale. Offers to purchase are legally binding contracts outlining the agreed-upon conditions of the buyer and seller of a property. Axess Law’s real estate lawyers protect your legal interests. Having your agreement of purchase and sale explained by our Ontario lawyers ensures you understand all the details before you make legal commitments.
Assignments of purchase agreements give you the advantage of being the first owner and occupier of a home or condo. You can move into your home with the confidence no one has lived there before you. Although less popular, assignments are also possible for resale homes. Ask your real estate agent if they have any resale homes you might consider.
How It Works
01
Request Quote
Click on ‘Get Started’ button to receive a quote from us. If you decide to proceed, our customer care team will reach out to you within minutes to discuss the next steps.
02
Upload Files
You will receive a secure intake link in your inbox to submit your closing documents. After receiving your documents, we will work with the lender to prepare for closing while keeping you informed at all times.
03
Sign Agreement
Once your closing documents are ready, we will book an appointment to review and sign the documents with you. Depending upon your convenience and location, you can meet your lawyer in person or virtually.
Documents We Need
Get legal advice when you make an offer to purchase a property a buyer wants to assign to you. Assignments of purchase and sale are unlike most real estate transactions. You won’t regret asking Axess Law to review the agreement of purchase and sale or negotiate with the seller’s lawyer to close the deal.
- Driver’s license
- Canadian passport
- Ontario photo card
- Canadian citizenship card with photo
- PR card with photo
Why Do I Need Legal Advice?
Hiring a lawyer can preserve your right to back out if problems arise during a closing. We can advise you how to proceed if:
- the seller is not the legal property owner
- the property title contains liens
- property lines don’t agree with legal surveys
- construction defects are exposed during home inspections
- your home is in a flood or wildfire zone
- heritage designations restrict property improvements
- transportation or other municipal plans could affect your enjoyment of the property
- or strata council minutes include costly special fees you want the seller to assume.
We amend your purchase agreement or end it altogether if the sale is not satisfactory to you.
Are Assignments a Good Deal?
They can be, especially if the original buyer is anxious to sell. Although not always true, profits on selling a newly constructed, not yet occupied condos or homes can be slim for the original purchaser. And that, works to your advantage. Still, if the builder hasn’t covered it, you could wind up paying the HST Plus, by “stepping into another’s buyer’s shoes”, as one realtor put it, you assume all of the original buyer’s liabilities.
Pros and Cons of New Home Assignments
New home assignments come with pros and cons. What to expect when you purchase a home or condo still under construction:
You could get into a building otherwise sold out
You might get to pick the final finishes
You assume the previous owner's obligations
You may owe extra fees or adjustments on closing
What Our Customers Say About Us
My wife and I had an amazing experience with Axess Law regarding our very first home purchase. They were very responsive to our questions, calling the same day (multiple times) and returning any missed call. They were diligent, fair, and transparent. I would use their services again.
★★★★★ 5/5
The team at Axcess Law was extremely easy to work with. They were quick to respond, answered all my questions and made the entire process of closing really easy.
★★★★★ 5/5
They set up a team dedicated to my sale of real estate, and dealt with my queries outside the scope of work, out of my inexperience and being detached from legal issues, diligently and with utmost patience. As a result, I not only achieved a smooth transaction with clear documentation, but also gained invaluable experience and a lawyer’s team that I would consult and retain for my future needs.
★★★★★ 5/5
My wife and I had an amazing experience with Axess Law regarding our very first home purchase. They were very responsive to our questions, calling the same day (multiple times) and returning any missed call. They were diligent, fair, and transparent. I would use their services again.
★★★★★ 5/5
"As this was our first time purchasing a home, my wife and I believe that Axess Law genuinely ensured that all the basics were covered by educating us. We felt comfortable moving forward with this transaction. Thank you to Axess and law the staff assigned to us for their due diligence and flexibility"
★★★★★ 5/5
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We are rated 4.8/5 based on 1,475 reviews.
Convenient Appointments
Make an appointment by calling +1.877.402.4207 or fill out our online booking form. Axess Law gives you the choice of booking an online or in-person appointment. Our lawyers are available 7 days a week, at times convenient for you. We can meet in person, by phone, email, or via a remote video call. Axess Law has 5 offices located across the Greater Toronto Area – all with onsite parking or easily accessible by public transit.
Some FAQs
Should HST be due, you may be responsible for paying it or the builder may include it in the unit price. Your real estate agent can usually explain if GST/HST applies or ask Axess Law. Our virtual real estate lawyers can connect with you virtually anywhere in Ontario.
Purchasers of new-build condos have a 10-day cooling-off period to withdraw their offer. Axess Law can review contracts for other properties to determine if there is a cooling-off period and when it ends.
If a deal collapses because you back out, you could be sued for any difference between how much you offered and what the next buyer agrees to pay, plus court costs. Courts may also award costs for deposits the first purchaser made on another home, lost opportunities to sell the property to other buyers, or expenses such as storing furniture while the home is resold.
Consider getting bridge financing to prevent a lawsuit if your circumstances change or talk to an Axess Law lawyer if the builder reneges on their contract.
Axess Law’s real estate lawyers protect your legal interests. Having your agreement of purchase and sale explained by our Ontario lawyers ensures you understand all the details before you make legal commitments. Axess Law real estate attorneys take you through your legal rights and obligations when you buy or sell property in Ontario. They explain what legal terms and deadlines mean for your offer of purchase or sale.
Hiring a lawyer can preserve your right to back out if problems arise during a closing. We can advise you how to proceed if:
- the seller is not the legal property owner
- the property title contains liens
- property lines don’t agree with legal surveys
- construction defects are exposed during home inspections
- your home is in a flood or wildfire zone
- heritage designations restrict property improvements
- transportation or other municipal plans could affect your enjoyment of the property
- strata council minutes include costly special fees you want the seller to assume.
We amend your purchase agreement or end it altogether if the sale is not satisfactory to you.