Monthly Archives: July 2012

How to Buy Vancouver Condo Presales 3 | Disadvantages & Risks

Posted on July 30, 2012 by mike

The Disadvantages and Risks of Buying a Pre-Construction Condo in Vancouver

In Episode 2 of How to Buy Vancouver Condo Presales, we talked about the advantages of condo presales for Owner/Occupiers. In Episode 1 we discussed the advantages of pre-construction condos for investors in Vancouver.

Today we’re going to discuss the disadvantages of pre-construction or presale condos in Vancouver for both investors and owner occupiers and what to watch out for with this kind of property.

Rights and Obligations with Presale Condos

When buying pre-construction condos Vancouver in Vancouver, its easy to overlook the potential negative aspects of this type of purchase or investment (especially for first time home buyers!)

Purchasing a presale condo is not the actual physical purchase of a tangible property. Its actually a contract for the right to receive and obligation to pay for a finished condo at a set point in the future, irrespective of market conditions or the buyers financial situation.

What are the Risks & Disadvantages of Presale Condos in Vancouver? Continue reading →

Posted in: For Buyers, How To Buy a Pre Sale Condo in Vancouver
Tags: Buy Offplan in Vancouver, Buying Pre Built Condo Vancouver, Disadvantages of Presale Condos, First Time Home Buyer Presales, How do Condo Presales Work, How Does Presale Work for Real Estate, How to Presale, Investor Pre Sale House Buyer BC, Making Money Condo Presales Vancouver, Pre-Construction Condos Vancouver, Problems with Buying PreSale Homes/Condos, Risks of Buying a Presale Condo, Should I Buy a Presale in Vancouver, Should I Buy Presale Condos, The Risk of Buying Presale Condos in Vancouver, Things to Consider Before Buying a Presale Condo in Vancouver bc, Vancouver Pre Seller Real Estate, What are the Disadvantages of Presale Condo, What are the Disadvantages of Presale Condos, What to Avoid When Buying a Presale, What to Consider in Buying a Pre Selling Condo
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Pre-Listing Home Inspections for Sellers in Vancouver with Dave Brighton

Posted on July 25, 2012 by mike

Inspect Your Own House in Vancouver Before Selling it?

Yes! Sometimes Sellers in Vancouver will get their own inspection on their home by a qualified Home Inspector before listing it for sale to get a very clear idea of the mechanical condition of their property. But why?

Why Get a Pre-Listing inspection on a Home in Vancouver?

I recently had the pleasure of talking to Dave Brighton, Home Inspector with Brighton Home Inspections on pre-listing inspections in Vancouver.

Inspections done on behalf of a Seller are done for several reasons:

Increased Certainty in Negotiations – Many Buyers in Vancouver Continue reading →

Posted in: For Sellers, How to Sell a Revenue Property in Vancouver, How To Sell A Vancouver Condo
Tags: Advice on Home Inspections in Vancouver, Condo Inspections, Dave Brighton Home Inspector, Home Inspections for Sellers, Home Inspections in Vancouver, Home Inspectors in Vancouver, House Inspections, Pre-List Inspections in Vancouver, Pre-Listing Home Inspections for Sellers, Vancouver Home Inspections, Vancouver Real Estate Inspections, What to do when Listing a Home in Vancouver
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Presale Condos in Toronto and the July 2012 Mortgage Rule Changes!

Posted on July 16, 2012 by mike

Presale Condo Market in Toronto and the July 2012 Mortgage Rule Changes

The Federal Government recently tightened the rules for mortgages in Canada and Jim Flaherty specifically mentioned that the Toronto condo market and the presale market in Toronto as the main reason for the mortgage changes. As a Vancouver Realtor, I know the Vancouver real estate market inside and out. Toronto, not so much, so I called in and expert!

I recently had the pleasure of discussing presale condos (a favourite topic of mine) with a top Toronto Realtor and the July 2012 Mortgage Rule Changes. Have a look!

The following is a guest blog post written by Andrew la Fleur, a Realtor in Downtown Toronto with Remax Condos Plus. Andrew focuses his efforts on the pre-sale (pre-construction) condo market of Toronto. Check out his blog at truecondos.com or follow him on twitter @andrewlafleur.

The pre-construction condo market in Toronto so far in 2012:

2011 was an all time high year for the condo market in Continue reading →

Posted in: For Buyers
Tags: Andrew La Fleur, July 2012 Mortgage Rule Changes and Presale Condos, New Condo Projects in Canada, Off Plan Condos in Canada, Presale Condos in Toronto, Presales in Canada, Toronot Presale Condos, Toronto Presale Condo Market, Toronto Presale Condos, Toronto Presales and the July 2012 Canadian Mortgage Changes, Toronto Realtor
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Commission Calculator for Realtor Fees in Vancouver with Net Proceeds for Sellers!

Posted on July 11, 2012 by mike

Vancouver BC Real Estate Commission Fee Calculator

Real Estate commissions and the net proceeds (ie the amount a Seller receives from a real estate sale after costs) are often confusing for prospective property Sellers in Vancouver.

Most Sellers aren’t sure about how much commission they will have to pay (Check out my great video on what I charge for Real Estate Commissions) and how much tax (GST/HST) will be payable on the real estate commission fee once the property sells.

This calculator clears up this confusion!

Realtor Commissions with HST/GST Calculated!

All you need to do is input the potential sale price of the property in question (Not sure how much the sale price is? Check out this great video on Comparative Market Analysis or call me at 604-763-3136!) in the form above.

Then click “Calculate” and you will get the Continue reading →