Maddox is a new 32 story residential presale condo tower with 212 units located at Howe and Drake in Downtown Vancouver, British Columbia, Canada. This location was formerly the site of a Travelodge Motel.
The Developer of Maddox Vancouver
Cressey is the developer and they have a great reputation having built condo towers such as the Donovan at 1055 Richards Street and the Elan at 1255 Seymour Street.
A good faith Deposit is almost always offered (But not paid immediately!) when a Buyer submits an offer or Contract of Purchase and Sale to buy a residential property in Vancouver.
This deposit money is deposited and held to ensure the Buyer will go forward with the deal on the Completion Date after they have removed their subject conditions. This deposit money forms part of and is included in the purchase price.
On page 1 of 7 Section 2 on the sample offer or Contract of Purchase and Sale (see below) beneath Section 1 Price, you will find the amount of the deposit and the details on how and when it will be paid and held.
Thinking of Buying?
Are you a First Time Home Buyer? Fill out the form below for Mike's First Time Home Tips newsletter list.
From April 18, 2011 The Government of Canada Will No Longer Guarantee Home Equity Lines of Credit (HELOC)
In January 2011, Canada’s Department of Finance announced a series of changes to mortgage and property financing rules. These new mortgage rule changes are intended to cool Canada’s real estate market and slow Canadians per capita debt growth in the short term and support the long term stability of the Canadian property market.
CTV Interview with Norma Reid on Vancouver Real Estate and Rising Interest Rates.
Sorry no embedded video with this one. I had the absolute pleasure of being interviewed by Norma Reid of CTV Vancouver on the impact rising interest rates on Vancouver Real Estate. Here is a link to the CTV Video Site with the interview.
We shot this segment at my listing at 1908-1082 Seymour. There is link video of the suite on the listing page.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 4,080 in March 2011. This represents a 31
.7 per cent increase compared to the 3,097 sales recorded in February 2011, an increase of 30.1 per cent compared to the 3,137 sales in March 2010 and an 80.1 per cent increase from the 2,265 home sales in March 2009. The all-time sales record for March occurred in 2004 when 4,371 transactions were recorded.Continue Reading…