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Selling a Vancouver Condo 9 – Marketing Strategies


Marketing Strategies when Selling Your Vancouver Condo

In the previous episode, we discussed the best time of year to sell your condo. Today we’re going to talk about marketing strategies for selling condos in Vancouver that bring together many of the topics and concepts we’ve discussed in previous episodes.

Many think that selling a condo in Vancouver is simply a matter of listing it on Realtor.ca at a price pulled from thin air with non-professional photos and little or no thought to light, exposure, and colour.

This is a good way to proceed

If you don’t want to sell your condo or you are not interested in getting the best possible price or outcome.

Thinking of Selling?

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Customized Market Strategies for Selling Condos Works Best

Condos in Vancouver in most cases are quite unique. This uniqueness requires   Continue Reading…

How to Buy a First Home 15 – Subject to Inspection & The Contract of Purchase and Sale

First Time Home Buyer Safety – Subject to Inspection in the Contract of Purchase and Sale!

In Episode 14, we talked about Subject to Financing and how this is a powerful way to protect a first time home buyer when it comes to financing. Today we are going to talk about the Subject to Inspection clause in the Contract of Purchase and Sale and how this can protect a new home buyer in Vancouver.

What is an Inspection When Buying a Home in Vancouver?

An Inspection or Home Inspection as they are commonly referred to in Vancouver is when the Buyer has a qualified and certified Home Inspector check over the physical condition of the property that is of interest.

In most cases the Home Inspection is done after there is an accepted offer and the Home Inspector checks the following:

  • The exterior envelope of the home (be it a condo or a house) that including, the foundation, parking garage, the roof, the walls, etc as well as the drainage systems and any out buildings or features on the grounds of the property
  • The interior of the home and all its mechanical and structural systems including plumbing, electrical, flooring, wall systems like drywall, ventilation, windows, skylights, etc

At the end of the Home Inspection, the Buyer receives and inspection report which will clearly lay out the condition of the property and any issues the property may have.

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Why do We Use Subject to Inspection?

Quite simply, a Home Inspection is designed to protect the  Continue Reading…

When to Sell a Condo 8 – Best Season to List a Property for Sale in Vancouver

How to Sell a Condo in Vancouver 8: When to List a Property for Sale

In Episode 7, we talked about things to avoid when preparing a condo for sale and in Episodes 5 & 6 we talked about how to prepare your condo unit for sale and the option of home staging.

Today, we’re going to talk about timing the Vancouver Real Estate Market and the best time to sell a condo.

Should I sell My Vancouver Condo now?

I get this question all the time and it is nearly impossible for me to answer.

Thinking of Selling?

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The decision to sell is rarely decided by what is happening in the Vancouver Real Estate Market. People decide to sell their condos because of personal or investment reasons that may not be related to the time of year or what is happening in the market.

The best thing for a prospective seller to is to look at what is happening in the real estate market here in Vancouver. I have great Vancouver Real Estate Statistics updated on a monthly basis available.

What is the Best Season to Sell a Condo?

This question I can   Continue Reading…

Selling a Revenue Property in Vancouver 1 | Capital Gains Tax and Deducting Commission in Canada

Selling a Revenue Property in Vancouver 1 | Capital Gains Tax and Deducting Real Estate Commissions in Canada

So, you’ve decided to sell an investment condo or other revenue property in Vancouver. The first thing you’ll want to do is talk with your mortgage lender to check how much your mortgage penalties are going to be.

Once there is clarity on the costs to end the mortgage you have to consider The Taxman, aka Canada Revenue Agency (CRA).

Thinking of Selling?

Use this form to find out how to sell your home sooner and for more money.

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I recently had the pleasure of meeting with Vancouver Accountant Sean Akeroyd with Akeroyd & Leung about the tax implications of selling an investment property in Canada.

Are The Sale Proceeds of an Investment Property in Canada Taxable?

When selling a revenue property in   Continue Reading…

How to Buy Vancouver Condo Presales 3 | Disadvantages & Risks

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.

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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…

An Answer to Florin’s Question: Can a Presale Bought High Ratio be Completed on Low Ratio?

Financial Leverage and Presale Condos in Vancouver

I LOVE Questions and Comments on my blog posts and appreciate them HUGELY!!

We recently had a great question (Thanks Again Florin!) in the comments section of Episode 2 of How to Buy a Presale Condo where we discussed the advantages of pre-construction condos for Owner/Occupiers.

This question was SOOOO GOOD, I decided to bring in a mortgage broker, Chad Watts and shoot an entire video on this topic!

Florins Question:

I asked my mortgage specialist about point 3 “Financial Leverage.” The one where you mentioned “buyer who previously was a high ratio borrower to become a low ratio borrower” if the property value goes up. She told me that this in not the case anymore. The bank will only base the financing on the purchase price of the home. Is this correct and if so is this true to all banks?

The mortgage specialist Florin spoke to is right.

There are rules restricting lenders from giving a mortgage on the actual market value of a presale condo if it has gone up in value from when it was purchased pre-construction to when it completes.

BUT, this does not mean the buyer of a presale condo in Vancouver cannot leverage the increase in value of the property between the time of purchase and the completion date.

Can a Presale Bought High Ratio be Completed on Low Ratio? Yes, in a Roundabout Way!

This only works when the presale  Continue Reading…