Presales, Assignments, YES- You need a Realtor on YOUR side. Amacon's "The Beasley" Opportunity.
Vancouver, BC, Canada. Real Estate Information
Whether you gather your news from TV, radio or print, no doubt you have heard about developers such as Amacon suing buyers for completion of previously signed contracts. It is a contract, and breaching one usually has dire results for the offending party.
Having your Realtor act WITH you when purchasing a presale may not change what has happened, but they would have explained all of the ramifications of entering into a contract that has been written by the developer themselves. Which may have changed your mind. In busier markets, most often real changes to the contract were not possible. (Next in line...! ) In today's market I believe there is room for improvement, and more room to negotiate on some terms and conditions.
The standard forms used in almost all transactions of resale homes have been developed by The Real Estate Boards and Councils. These standard forms are designed to be fairly balanced between the signing parties' rights and obligations, and are updated regularly so to be "enforceable". Law is fluid and always changing.
Back to Amacon. While they have been suing buyers for completion at other projects, they are doing the right thing at "The Beasley" project at Nelson & Homer on the border of Yaletown. Due to the facts that the hole is not yet dug, and that construction costs are way down, (materials and labour) they are offering deep discounts. Not only on the prtion yet unsold, but also to those with contracts already in place." This is smart business that will avoid future lawsuits going both directions and make for better public relations all around. Their concrete supplier has stated that their savings alone should contribute about 1/3 of the cost savings being passed along to present and future buyers of their condos.
Read the story in The Vancouver Sun today. http://www.vancouversun.com/Business/Vancouver+condo+price+drop+leads+lawsuits+discounts/1398690/story.html
Please contact me if you would like more information about the release of suites starting April 4th at a $100K - $250K discount per condo for sale. I would be happy to discuss this with you in greater detail.
Blair Smith, - Realtor
Downtown Vancouver 604-313-8732
www.blairsmith.ca -Helping YOU make all the right moves.