I’m hearing stories of a pre-sale condo gold rush going on in Surrey and parts of the Fraser Valley. One story that was relayed to me was of a person who bought 4 pre-construction 1 bedroom units with the plan to flip or assign them over the next 18 to 20 months before the units were completed. Apparently this buyer had not even talked to a mortgage broker or had the additional funds to close on these units. In my opinion this is a recipe for disaster. This buyer has no idea of the risk he is taking without having the financial ability to close on these units in the event that the market does not continue to increase.