Starting May 16, 2016 all standard contracts in BC will contain the following wording as a result of the Vancouver flips:
"The Seller and the Buyer agree that this Contract: (a) must not be assigned without the written consent of the Seller; and (b) the Seller is entitled to any profit resulting from an assignment of the Contract by the Buyer or any subsequent assignee."
You have the ability to strike this clause out on the contract but you will need both parties consent to remove it from the contract.
Lake Okanagan Realty Ltd.
Tel: (250) 870-2792
Fax: (778) 484-5252