Three gates, in this order
An owner rings us, two years into a four year build, because a job has moved or a marriage has ended or the money is needed elsewhere. The question is always the same: can I get out?
Usually yes. But the answer is decided by three gates, and there is no point discussing price until all three are open.
Gate one: does your contract permit assignment at all? Some do, freely. Some permit it only after a stated percentage has been paid. Some require the developer's written consent, which is a polite way of saying it is their decision. And a few prohibit it outright before completion. Find the clause before you tell anyone the property is available.
Gate two: what does the developer charge to allow it? An assignment fee is normal and is usually a percentage of the price or a fixed administrative sum. It is theirs to set within the contract, and it comes out of your proceeds.
Gate three: are your payments current? Nobody will approve a transfer on a contract that is behind schedule. Clear the arrears first or the conversation stops there.
What you are actually selling
This matters more than most sellers expect, because it defines who will buy.
You do not own a finished apartment. You own the right to receive one, on terms someone else agreed to write, with the remaining payment schedule attached. Your buyer is stepping into your position: your completion date, your specification, your instalments, your developer.
That means your buyer inherits your risks as well as your unit. A well run project with a good delivery record makes assignment straightforward. A project that has already slipped twice makes it hard, and no amount of discount fully compensates for a completion date nobody believes.
You are not selling a property. You are selling a contract, and the developer decides whether that contract may move.
The money, honestly
Sellers tend to calculate the gain and forget the deductions. Work it the other way round.
| Line | Effect on what you keep |
|---|---|
| What the buyer pays you | Your headline figure |
| Assignment fee to the developer | Deducted, and set by your contract |
| Legal fees, both sides of the paperwork | Deducted |
| Agency commission, if you use one | Deducted |
| Any outstanding instalment due before transfer | Deducted |
| Currency conversion, if you paid in one currency and sell in another | Can move the result either way |
Whether a gain is taxable, and where, depends on your own position and the rules in force. That is a question for your lawyer and for a tax adviser in your home country, not for a seller's spreadsheet. Ask early, because the answer can change whether the sale is worth doing at all.
Who actually buys an assignment
The buyer pool is narrower than the open market, and knowing that saves months.
Assignment buyers are people who want this specific project and missed the release, or who want a shorter wait than a fresh purchase offers, or who are comfortable buying a contract rather than a building. That is a real group, but it is a small one, and almost none of them are first time buyers on a viewing trip. First timers want to walk through something.
Price accordingly. An assignment usually has to sit slightly below what the developer is asking for a comparable unfinished unit, because you are asking someone to take an unfamiliar route to the same outcome. If the developer still has stock in the same building at your price, you have no offer to make.
The order that keeps you safe
Do it in this sequence and very little goes wrong.
- Read the assignment clause yourself, then have your lawyer confirm what it means in practice
- Write to the developer, ask what they charge and what they require, and keep the reply
- Bring your payments fully up to date
- Agree the price and the split of costs in writing before anyone celebrates
- Let the lawyers move the contract; never accept money directly against a promise to sort the paperwork afterwards
- Get written confirmation from the developer that you are released from the obligations, not merely that a new name has been added
That last point is the one people skip and the one that matters most. Until the developer confirms your release in writing, you may still be the person they look to if the new buyer stops paying.
If you are in this position with a property we listed, tell us and we will read the clause with you before you decide anything. If it was bought elsewhere, we will still read it. Sometimes the honest advice is to hold on for another eight months and sell a finished apartment to a much larger audience, and we would rather say that than take an instruction we cannot deliver on.
