Developer Assignment: Charges, Consent & Payment Sequence

Transferring a unit contract from one buyer to another may require developer consent and payment of charges or obligations under the contract. There is no universal percentage, and a deal should not depend on an undocumented workaround.

Start with the assignment clause

Review when assignment is allowed, the paid-percentage threshold, charges and calculation basis, required documents, and timing. Obtain current confirmation from the developer because operating procedures can change within the contract framework.

Obtain an account statement

It should show paid and outstanding amounts, upcoming instalments, penalties, maintenance, and any restriction or finance. Match it to the seller's receipts and do not use an old image to set closing figures.

Allocate every cost

The closing agreement should state seller price, developer fee, brokerage, tax, legal expense, and who pays each amount. Negotiate the net position of each party rather than one isolated percentage that hides total transaction cost.

Sequence payment and consent

Use only a limited refundable amount to reserve time, then tie major transfers to the current statement, attendance before the developer, and signed assignment. Use traceable payment and receipts naming the parties and unit.

Avoid dangerous shortcuts

A power of attorney or side agreement does not ensure that the developer recognizes the new buyer or transfers obligations. If the proposed route conflicts with the contract or the developer will not document it, pause for independent legal review.

Close with a written allocation statement

Before signing, create a schedule showing every amount, recipient, purpose, due date, responsible party, and the supporting contract clause or developer letter. Include near-term instalments, arrears, clearance, and brokerage where applicable.

The schedule total must reconcile to the cash actually required. Any difference or undocumented charge remains an open item and is not resolved by a broad label such as administration expenses.