Assignment Sale BC Explained: How Presale Contract Transfers Work in 2026

Before entering an assignment transaction on either side, the original purchase agreement must be reviewed carefully. If the developer's consent is required, it needs to be obtained in writing before any money changes hands. Failing to follow the agreement's terms can void the assignment and put the assignor's deposits at risk.

What the Assignee Inherits

The assignee takes over the contract as-is. That means inheriting the original purchase price, unit specifications, completion timeline, and any amendments the developer and original buyer made. There is no renegotiating with the developer.

The assignee typically pays the assignor back for deposits already paid to the developer, plus a premium reflecting any appreciation in the unit's value since the original contract was signed. That premium is the assignment fee, and it is where most of the financial and tax complexity sits.

One practical issue assignees often overlook: by the time an assignment occurs, the original buyer has already selected finishes, colour packages, and upgrades. The assignee inherits those choices with no ability to change them. Ask to see the upgrade schedule and spec sheet before committing. For a fuller checklist on evaluating any condo purchase, see our guide on how to assess a condo building before you buy in BC.

Tax Implications for the Assignor

The financial picture for assignors in BC became considerably more complicated starting in 2025. There are three separate tax obligations to understand.

Income tax. Any profit from an assignment sale must be reported to the Canada Revenue Agency. Whether it is treated as a capital gain or as fully taxable business income depends on your original intent when you bought the presale contract. The CRA scrutinizes these transactions closely, particularly where there is any pattern of assignment activity. Get accounting advice before signing.

BC Home Flipping Tax. Effective January 1, 2025, BC introduced a provincial flipping tax that applies to assignment sales. If you held the original purchase contract for less than 365 days, you pay 20% of the profit to the province. That rate declines gradually and reaches zero at 730 days. This tax is separate from federal income tax and stacks on top of it. Limited exemptions exist for circumstances such as divorce, disability, or the death of a co-owner.

GST. If you bought the presale unit intending to live in it as your principal residence, the assignment may be GST-exempt. If the CRA determines your intent was to sell for profit, GST could apply to the assignment fee or to the total price paid by the assignee. The CRA has auditing teams with specific expertise in BC real estate, and assignment sales are a known focus area. Do not assume exemption without getting a written opinion from an accountant.

Tax Implications for the Assignee

The assignee's tax position is different from the assignor's, but it still requires attention before closing.

Property Transfer Tax. The assignee pays BC PTT at closing based on the total amount paid, including any assignment premium. For newly built homes used as a principal residence, BC's Newly Built Home Exemption can apply: full exemption on properties up to $1,100,000, with a partial exemption up to $1,150,000. On a qualifying purchase at the threshold, that exemption can save up to $20,000. Confirm eligibility with your lawyer or notary well before the completion date. For a full breakdown of how PTT is calculated across property types and price points, see Zealty's BC property transfer tax guide.

GST and the New Housing Rebate. Assignees typically pay GST on a newly built home, since the property has not previously been owned. The federal New Housing Rebate, which can reduce GST on homes under $450,000, may or may not be available depending on how the assignment was structured and whether the original buyer already claimed it under their purchase agreement. Your lawyer needs to clarify the rebate position before completion.

Search BC Listings and Track the Market

Assignment sales are not always easy to find. Many are marketed privately through agents or developer networks. When they are publicly listed, they appear in the MLS like any active listing. Zealty's map search covers live MLS listings across BC with full pricing history on every property, so you can see what an assignor originally paid and how the unit has been priced since.

Browse active condo listings in the key Metro Vancouver presale markets:

• Metro Vancouver condos for sale
• Burnaby condos for sale
• Surrey condos for sale
• Coquitlam condos for sale
• Richmond condos for sale

For a current read on prices and inventory in each of these markets, check the live housing market stats pages:

• Metro Vancouver housing market
• Vancouver City housing market
• Burnaby housing market
• Surrey housing market
• Coquitlam housing market
• Richmond housing market