Why Having Your Own Representative For a Pre-sale is Important
While some buyers feel the need to see and touch the finished product before purchasing, others are comfortable buying properties from conceptual plans and models. Buying a pre-sale condo or townhouse can have its advantages such as better initial pricing and selection, as well as risks which can include delays and the impact of changing markets over the building cycle. Many aspects of buying a pre-sale condo are similar to that of purchasing a re-sale unit however; if you are not familiar with the process and what to watch for it can be overwhelming. Fortunately, you are able to enlist the services of a REALTOR® to assist you at no additional cost provided that you advise the Presentation Centre that you have representation. The following are some of the reasons why you should use a REALTOR® when buying a pre-sale unit:
Educate you on the pros and cons of pre-sales
Get inclusions not always offered by the Developer
Review of the Disclosure Statement and other documents
Realistic expectations regarding timeframe for Possession
Insights as to what is happening around the immediate building and potential changes in the future
Background on the Developer
Assistance in understanding how to read the floorplans
*Please note that in British Columbia, newly constructed homes are subject to the Provinces Good and Services Tax or GST. The tax is equivalent to 5% of the purchase price. For a quick calculation of the GST please refer to this calculator.
