Pre-Sale Condo ASSIGNMENT OF CONTRACTS – 楼花转让
Pre-Sale Condo Assignment of Contracts – a contract assignment occurs when a buyer transfers the contract to buy property to someone else before the completion date.
For assignments of pre-sale contract, the Real Estate Development Marketing Act allows an assignment to occur. The developer’s contract of purchase and sale will outline if the developer’s approval is required. Any costs they may charge for the Assignor (original Buyer on the contract).
For assignments of non-pre-sale contracts, new rules came into effect in The Real Estate Services Act on May 16, 2016. This Act requires the licensed agent to alter a clause in the contract of purchase and sale. Add a clause regarding assignments and use the required Notice to Seller Regarding Assignment Forms to produce an offer that allows the buyer to possibly assign the contract to another party at a future date.
As a buyer, it is important to discuss possible assignment scenarios with your agent when writing your contract of purchase and sale.
The amendments further provide that licensees (original buyers agent) must take certain steps if they are involved in a potential real estate transaction where an offer to be presented to the seller does not include the Standard Assignment Terms. These requirements are further discussed below.
For Real Estate Services Act regulated assignments the Real Estate Council’s form entitled Notice to the Seller Regarding Assignment Terms must be used if that offer does not include one or both of the following terms (Paragraphs 20A & B of the standard Contract of purchase and Sale):
- A term that provides that the contract must not be assigned without your written consent
- A term that provides that you are entitled to any profit resulting from an assignment of the contract by the buyer or any subsequent assignee
A Buyer (Assignee) is advised to obtain legal advice before entering into an assignment of a contract. Should the Assignee not complete the purchase then the Assignor is responsible to complete the purchase under the terms of the original contract of purchase and sale.
对于非预售楼花合同的转让，《房地产服务法》新规定在2016年5月16日中生效。要求房地产经纪更改与开发商买卖合同中的一项条款，其实就是增加一项关于楼花转让的条款，使用Notice to Seller Regarding Assignment Forms（转让楼花通知声明）来向开发商提出买家在未来的日子里有可能会把楼花转让给其他人。