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.

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.
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.
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.
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.
Hiring a lawyer can preserve your right to back out if problems arise during a closing. We can advise you how to proceed if:
We amend your purchase agreement or end it altogether if the sale is not satisfactory to you.
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.
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
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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.
Hiring a lawyer can preserve your right to back out if problems arise during a closing. We can advise you how to proceed if:
We amend your purchase agreement or end it altogether if the sale is not satisfactory to you.
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