It really is amazing how some
condo units and buildings in Downtown Vancouver can garner multiple offers and
sell well above asking price in a matter of days. While similar units in the
same neighbourhood languish on the market for months with little or no interest
and sell well below asking when they finally do sell. Tilting the odds in your
favour iseasy, just ask yourself a few simple questions before you buy.
Is the building I'm buying into a desirable one and what kind of owners have bought into it? Is there sufficient interest in this building and neighbourhood and will I have any problems selling in a timely manner when the time comes to move on? How long does it normally take to sell a unit in this building and how many current units are for sale? The answer to these questions will tell you a lot about the condo and Strata Corporation you’re thinking about buying into.
There was an interesting documentary on CBC last week called "The Condo Game". If you missed it go to www.cbc.ca and look it up. It's yet another reason why the role of the experienced Realtor is going to be more critical in the coming years.