Monthly Archives: June 2011

Presale Condos and Mortgage Financing!

Getting a Mortgage on Your Presale Condominium in Vancouver

Pre Sale residential condos are a popular option for many home buyers and investors in Vancouver. (Want an explanation of Presale Condos? Check out this video here).

I recently had the pleasure of interviewing Jessi Johnson, a Mortgage Broker in Vancouver about mortgages and presales.

Most people buying pre sales get mortgages on these properties when they complete several months or years later. Getting a mortgage is a fairly straightforward process and for most buyers occurs with very few issues.

That said, very few buyers of presales realise that there is no guarantee that when they buy a presale condo there is a chance they may not be able to get a mortgage in a few years time when the property completes.

No Guarantee You Can Get Mortgage on a Presale?!
  Continue Reading…

Salt Downtown Vancouver Presale Condo with PRICING & FLOOR PLANS!

Salt by Concert Properties – A New Presale in Downtown Vancouver South

Salt is a new residential pre sale condo tower by Concert Properties located at the corner of Hornby and Drake in Downtown Vancouver. Concert will be selling 194 suites at this 33 floor concrete apartment tower that will be located at the former site of the Downtown Travelodge and Cold Beer and Wine Store.

How Much Will Presale Condos at Salt Vancouver Cost?  Continue Reading…

First Home Buyer Advice Vancouver 10: The Contract of Purchase and Sale – Dates

First Time Home Buyer Advice 10: Completion, Possession, and Adjustment Dates & BC’s Contract of Purchase of Sale

I am Realtor in Vancouver, BC, Canada and I have created this series of videos to help those who need help buying their first condo or house in Metro Vancouver, BC, Canada.

In Episode 9 of the First Time Home Buyers Guide for Vancouver we talked about the Deposit Section of the BC Contract of Purchase and Sale document.

Today we are going to talk about the Date sections (Section 3,4, and 5) on page 2 of the Contract of Purchase and Sale.

These Completion, Possession, and Adjustment Dates can be set at any time agreed to by the Buyer and Seller (One day after an Accepted Offer to years after).

In most cases the Completion Date comes first, and the Possession Dates and Adjustment occur the next day.

Remember! The Completion, Possession, and Adjustment Dates laid out in the Contract of Purchase and Sale only occur once all subject conditions have been removed!

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Dates on a BC Contract of Purchase & Sale  Continue Reading…

May 2011 Real Estate Board of Greater Vancouver REBGV Statistics Package

REBGV Stats May 2011 Mike Stewart


June 2, 2011

May 2011 Stats

Greater Vancouver housing market holds steady and favours sellers in May
Home sales remained at typical springtime levels on the Multiple Listing Service® (MLS®) in Greater Vancouver in May.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,377 in May 2011, a 7 per cent increase compared to the 3,156 sales  Continue Reading…