Rising demand has led to an increase in bidding wars, more sales over asking price and a greater number of “contract assignments,” where buyers sell their rights to a home before completing their purchases.
http://business.financialpost.com/personal-finance/mortgages-real-estate/luxury-home-buyers-in-vancouver-flipping-houses-to-other-desperate-buyers-before-ink-even-dries-on-sale-contracts