Each assignment sale is unique and it may be necessary to get the help of a lawyer if you've never dealt with it.
There are a number of variables to consider:
a) Is the unit listed on MLS? Do you need to negotiate your own commission? This needs to be discussed - assignments are a lot of work and you need to ensure you're protected.
b) What documents are used to draft the assignment offer? OREA has an "Assignment of Agreement of Purchase and Sale" document, however, some builders require you to use THEIR paperwork. I've seen some agents negotiate on traditional Agreement of Purchase and Sale paperwork and then transfer it over to the necessary documents. Not a big fan of this as you are in theory creating two agreements.
c) Moneys (here is where it gets fun - I'll explain the nuts and bolts of it and then use an example with numbers)
Typically, the person selling has put down a deposit and has a balance owing. In addition, the price of the unit has likely increased (the profit).
As a buyer, you need to negotiate the final sale price - which will include a) payback of deposit, b) profit, c) balance owed to builder. If there is still a deposit owed to the builder, it needs to be negotiated and stated in the clauses that both parties understand that the NEW Buyer will be responsible for that additional deposit payment.
For example, the original purchaser (seller) purchased a condo for $250,000 with $50,000 down. The same condo is now being sold for $300,000. There is an additional $10,000 deposit payment to be made to the builder.
Therefore,
$50,000 already paid by way of deposit to the builder
$200,000 owed to the builder
$10,000 of which will be paid upon occupancy for a final deposit
Your offer will look something like:
$300,000
$100,000
The payment timeframe of this also needs to be negotiated. Typically speaking, the cleanest method is the $100,000 to be paid up front. That way you are simply buying out the original purchaser out of the contract.
However, we are seeing more and more where they will, say, pay off the $50,000 deposit immediately (needs to be negotiated again if this is going into a trust account which can only be accessed upon final registration/closing or immediately) and then the $50,000 profit is to be paid upon closing. It can get messy and you will likely need the assistance of a lawyer if it comes to this to ensure you have a clean clause that can deal with it.
CLAUSES
-Acknowledgement that the new buyer is responsible for the remaining deposit
-Acknowledgement that the new buyer is responsible for the interim occupancy fee
-Acknowledgement that the seller understands that if the buyer is unable to close, the seller (original purchaser) will be responsible for closing the condominium
-Laying out the payments and who is responsible for what payments and when (I know Brian is very picky about his assignment contracts, and I'm hoping he has some comments in this thread about all of this)
-Has the unit been rented during interim occupancy? Is there tax implications for this? Do both parties acknowledge this?
Assignments are messy and each one is unique with their own circumstances.
Good Luck!