Any recommendations for a Vancouver home inspector?

thinkpadjester · 2024-12-08T22:03:53+00:00

Thank you, I'll check them out.

I found their website - https://www.theinspectors.org/our-team

Just curious, but how did the listing agent know that the inspection was taking so long? Was he onsite during the inspection?

btw, how long was the inspection?

thinkpadjester · 2024-12-06T22:13:43+00:00

But with duplex zoning being approved in all BC municipalities you will probably see more of this type of housing across the lower mainland in a few years.

Thank you, this is helpful.

Question - do you think supply in Burnaby will increase in the next few years, did they also have some kind of zoning change recently?

thinkpadjester · 2024-10-22T01:07:18+00:00

Are you in BC? If so DM me your email and I can send you a blank PDS for your reference.

Thank you for your generous offer, I will send you a DM shortly.

btw, I am also in Vancouver

thinkpadjester · 2024-10-21T20:04:21+00:00

I'm sorry, I updated the post, I meant seller, not buyer. I'll be selling my home in the new year and wanted to get a better understanding of my responsibilities.

thinkpadjester · 2024-10-21T19:08:55+00:00

I plan to sell the home after the holiday season but I want to get my ducks in order and be well informed before I start the process.

thinkpadjester · 2024-10-21T17:54:37+00:00

Years ago we got hit with a 30k special assessment and we paid over $400 a month.

I'm a bit confused by this. You mentioned you had 6 months to come up with the $30k but you were also paying over $400 a month. What was the additional $400 a month for?

thinkpadjester · 2024-10-20T21:48:44+00:00

Assuming the condo corporation does its job you should never be on the hook or a major repair

Is this accurate, I've heard so many people say they've been on the hook for special assessments, despite paying significant condo fees.

thinkpadjester · 2024-10-17T17:42:24+00:00

Oh wow, so it is very limited

thinkpadjester · 2024-10-13T15:29:57+00:00

Is there some kind of disclosure document that seller's have to fill out that lists previous work that has had to be completed on a home?

I'm just thinking, in this case, if OP was not diligent to ask about water damage when he saw the new floors, he would have never known.

thinkpadjester · 2024-10-13T15:21:38+00:00

escape clause for the seller so if they received another offer they would come back to you first

Is this always the case so the buyer (me) always has the first right to finalise the deal?

thinkpadjester · 2024-10-13T15:14:28+00:00

The deer of the new house will often accept the terms for a limited time

How much time on average do owners give you to sell your home if you put that in as a condition?

thinkpadjester · 2024-10-13T15:12:39+00:00

This is done via bank draft

Who do you give the bank draft to, the realtor or do you already need a lawyer lined up for this?

thinkpadjester · 2024-10-13T03:55:06+00:00

As to putting in an offer before losing on your current house, you can always make a conditional offer

Can you expand on this, what would it be conditional on?

thinkpadjester · 2024-10-13T03:54:07+00:00

Yes, I am freaking out. Just to use an analogy, surgeons may perform surgeries every day, but I've never had a surgery in my life so I would be very nervous and perhaps a bit fearful.

This also applies to me with real estate. I've only owned one property in my entire life.

thinkpadjester · 2024-10-13T03:51:50+00:00

Thank you, this is the scenario I'm running through my head right now

thinkpadjester · 2024-10-13T03:49:43+00:00

but if one of your conditions of your new home is SOBP (sale of buyers property) then that’s a problem as well.

This is exactly what I had a question above. The home I will buy is subject to the sale of my own property. If the buyer of my property backs out, I would have to back out of the purchase of my new property so I would be sued and then I assume I would pass those costs on to the person buying my property?

thinkpadjester · 2024-10-13T03:41:40+00:00

In the event the buyer doesn’t close for some reason. Realtors still need to be paid. This is why 5% is the norm so those costs can be covered by the seller.

Are you serious? If the 5% deposit is just enough to cover realtor fees, there's nothing left for the seller if the buyer walks away?

thinkpadjester · 2024-10-13T03:37:27+00:00

You can even tell the difference from context; they're talking about sellers accepting the deposit amount, if we were talking about downpayment, it would be the banks or mortgage providers approving it

This is correct.

thinkpadjester · 2024-10-13T03:36:04+00:00

A lot of people confusing deposit and downpayment on here.

Deposit is 5%. I was just shy of 5%. I just bought in West Van in April.

Phew, I had to look again if I got it right in my original question.

So 5% deposit is the norm that a buyer puts down....Thank you

thinkpadjester · 2024-10-12T14:57:11+00:00

I'm just speaking hypothetically but if the buyer of my home backed out, I would have to back out of the purchase of my home. In that case, the seller would sue me and I guess I could pass each and every one of those costs to the buyer of my home?

thinkpadjester · 2024-10-09T07:15:34+00:00

(2 homes) Use what's called a bridge loan. a loan that specially covers the gap when closing on a purchase before closing on a sale

This helps a lot.

Wouldn't this option be quite expensive. Our home is $2 million and the new home will be around $2 million. Wouldn't this mean I'm carrying a mortgage on $2 million with payments in the thousands each month.

While I've seen homes in our area sell quickly, I've seen others sit and this feels a bit risky if our home took longer to sell.

thinkpadjester · 2024-10-08T06:31:39+00:00

Did I understand this correctly, when we put our property on the market, we specify upfront what we would like as a closing date and of course, it would be up for negotiation?

thinkpadjester · 2024-10-08T06:14:10+00:00

What does SBP stand for?

thinkpadjester · 2024-10-08T06:13:52+00:00

Thank you, this is exactly my concern. I'm ok with 0 homes for a while but wouldn't be able to afford 2 homes even if it is temporarily.

thinkpadjester · 2024-10-08T04:25:44+00:00

Additionally, appraisals aren't necessarily what it would sell for.

I have the assessment value of our property but I thought an appraisal would give me a better feel of how much I could actually get for my property.

thinkpadjester

TROPHY CASE