Comments for Canadian real estate blog - BestHomesBC.com and AssignmentsCanada.ca http://blog.besthomesbc.com A blog about Canadian real estate from BestHomesBC.com and AssignmentsCanada.ca Tue, 11 Aug 2009 17:10:29 +0000 hourly 1 http://wordpress.org/?v=3.0.1 Comment on Property sales strengthening – encouraging Real Estate Board of Greater Vancouver report by Buenos Aires real estate http://blog.besthomesbc.com/2009/04/06/property-sales-strengthening-encouraging-real-estate-board-of-greater-vancouver-report/comment-page-1/#comment-9579 Buenos Aires real estate Tue, 11 Aug 2009 17:10:29 +0000 http://blog.assignmentscanada.ca/?p=100#comment-9579 Thanks for the update. it´s great to read that we´re away from volatility. Thanks for the update. it´s great to read that we´re away from volatility.

]]> Comment on CTV Interview with AssignmentsCanada.ca by Chris D dot ca http://blog.besthomesbc.com/2008/03/01/ctv-interview-with-assignmentscanadaca/comment-page-1/#comment-2293 Chris D dot ca Mon, 02 Jun 2008 02:37:00 +0000 http://blog.assignmentscanada.ca/2008/03/01/ctv-interview-with-assignmentscanadaca/#comment-2293 This is a great post. Nice blog you have here too! This is a great post. Nice blog you have here too!

]]> Comment on Assignment market is hot in the Lower Mainland by Sherry Durnford http://blog.besthomesbc.com/2007/07/05/assignment-market-is-hot-in-the-lower-mainland/comment-page-1/#comment-883 Sherry Durnford Sun, 17 Feb 2008 13:01:59 +0000 http://blog.assignmentscanada.ca/2007/09/07/assignment-market-is-hot-in-the-lower-mainland/#comment-883 Hi Tim, It is important that you read over your contract with the builder. If the contract specifies that you can't assign your purchase until a certain date then you are legally out of luck. However, I would still write to the president of the building company and explain your circumstances, requesting an amendment or addendum to the contract in view of your situation. If, however, the contract is silent on the issue of assigning the contract then I believe that you are legally entitled to sell it. Contracts are generally assignable unless otherwise stated. It would help for you to speak with your legal counsel and/or a realtor. Hope this helps Hi Tim,
It is important that you read over your contract with the builder. If the contract specifies that you can’t assign your purchase until a certain date then you are legally out of luck. However, I would still write to the president of the building company and explain your circumstances, requesting an amendment or addendum to the contract in view of your situation. If, however, the contract is silent on the issue of assigning the contract then I believe that you are legally entitled to sell it. Contracts are generally assignable unless otherwise stated. It would help for you to speak with your legal counsel and/or a realtor. Hope this helps

]]> Comment on Assignment market is hot in the Lower Mainland by Tim Shaw http://blog.besthomesbc.com/2007/07/05/assignment-market-is-hot-in-the-lower-mainland/comment-page-1/#comment-730 Tim Shaw Mon, 28 Jan 2008 19:29:21 +0000 http://blog.assignmentscanada.ca/2007/09/07/assignment-market-is-hot-in-the-lower-mainland/#comment-730 Sapan, Thanks for replying! First off, I did not have a realtor who assisted me with this purchase. Second, as I said my plan was not to do an assignment. I did not even know what an assignment was. And the contract does not specify this limit of 5 units/3 months deal. At any rate, it is not about whose fault it is or what could have been done, I'm writing to understand the legal rights I have. I was hoping to get some of my questions answered. And yes, mls.ca is still THE main advertising vehicle for real estate. Other methods exist and they are being used, but most people out there are not familiar with them as much as they are with mls. mls is a central registry for properties so it guarantees maximum exposure. Anyway, I'm not a realtor and this point is not why I'm writing on this site, but I just wanted to respond because it was a rather obvious point. Sapan,

Thanks for replying!
First off, I did not have a realtor who assisted me with this purchase.
Second, as I said my plan was not to do an assignment. I did not even
know what an assignment was. And the contract does not specify this
limit of 5 units/3 months deal. At any rate, it is not about whose fault it
is or what could have been done, I’m writing to understand the legal rights
I have. I was hoping to get some of my questions answered.

And yes, mls.ca is still THE main advertising vehicle for real estate. Other
methods exist and they are being used, but most people out there are not
familiar with them as much as they are with mls. mls is a central
registry for properties so it guarantees maximum exposure. Anyway, I’m
not a realtor and this point is not why I’m writing on this site, but I just
wanted to respond because it was a rather obvious point.

]]> Comment on Assignment market is hot in the Lower Mainland by Sapan Behar http://blog.besthomesbc.com/2007/07/05/assignment-market-is-hot-in-the-lower-mainland/comment-page-1/#comment-723 Sapan Behar Sun, 27 Jan 2008 06:02:15 +0000 http://blog.assignmentscanada.ca/2007/09/07/assignment-market-is-hot-in-the-lower-mainland/#comment-723 Tim, simply put, if you didn't agree with the builder about the stipulation on assignments, you shouldn't have signed on the dotted line. Like everything else in a Contract of Purchase and Sale, this was negotiable. Your Realtor should have pointed this out. In fact, a competent Realtor would have counseled you not to sign the contract. As far as MLS being the Realtor "main advertising vehicle", you are sadly mistaken. However, if a Realtor is pushing MLS as their trump card, the Realtor is either too old to keep up with technology or is simply incompetent. Tim, simply put, if you didn’t agree with the builder about the stipulation on assignments, you shouldn’t have signed on the dotted line. Like everything else in a Contract of Purchase and Sale, this was negotiable. Your Realtor should have pointed this out. In fact, a competent Realtor would have counseled you not to sign the contract.

As far as MLS being the Realtor “main advertising vehicle”, you are sadly mistaken. However, if a Realtor is pushing MLS as their trump card, the Realtor is either too old to keep up with technology or is simply incompetent.

]]> Comment on Assignment market is hot in the Lower Mainland by Tim Shaw http://blog.besthomesbc.com/2007/07/05/assignment-market-is-hot-in-the-lower-mainland/comment-page-1/#comment-716 Tim Shaw Fri, 25 Jan 2008 19:57:31 +0000 http://blog.assignmentscanada.ca/2007/09/07/assignment-market-is-hot-in-the-lower-mainland/#comment-716 What rights does the builder have in deterring how many assignments can go on the market at a time? I purchased an apartment last year and was told at the time that assignments are not allowed until January of this year (2008). I did not know what an assignment was, and had no intent in selling before completion anyways. Due to unforeseen job-related circumstances (transfer out of country), I recently (first week of January incidently) contacted the builder to see what can be done in terms of selling the unit before completion. They told me that there are over 10 people ahead of me on a waiting list. Apparently the builder has given permissions to people to start advertising their units back in Sep-Oct time frame, which is NOT what they told me when I purchased my unit. My question is: what right do they have in determining how many units can be advertised at a time, they are telling me only 5 assignments can be allowed to go on the market every 3 months. So the next 5 people have to wait 3 months before they get their turn. Since all their units have sold out (and sold out last year) why are they doing this, and can they legally set an arbitrary number of how many people can go on at one time? Incidentally, none of their units are currently on the market (I have been checked with realtors and on the web). The contract I have does say that they have to issue written authorizing to allow the Purchaser (me) to advertise. But it does not specify a limit in terms of how many the builder can authorise at a given time, or the time period. Thanks! What rights does the builder have in deterring how many assignments can go on the market at a time?

I purchased an apartment last year and was told at the time that assignments are not allowed until January of this year (2008). I did not know what an assignment was, and had no intent in selling before completion anyways. Due to unforeseen job-related circumstances (transfer out of country), I recently (first week of January incidently) contacted the builder to see what can be done in terms of selling the unit before completion. They told me that there are over 10 people ahead of me on a waiting list. Apparently the builder has given permissions to people to start advertising their units back in Sep-Oct time frame, which is NOT what they told me when I purchased my unit.

My question is: what right do they have in determining how many units can be advertised at a time, they are telling me only 5 assignments can be allowed to go on the market every 3 months. So the next 5 people have to wait 3 months before they get their turn. Since all their units have sold out (and sold out last year) why are they doing this, and can they legally set an arbitrary number of how many people can go on at one time? Incidentally, none of their units are currently on the market (I have been checked with realtors and on the web). The contract I have does say that they have to issue written authorizing to allow the Purchaser (me) to advertise. But it does not specify a limit in terms of how many the builder can authorise at a given time, or the time period. Thanks!

]]> Comment on Home sales near record for third consecutive month by Vancouver condos http://blog.besthomesbc.com/2007/09/06/home-sales-near-record-for-third-consecutive-month/comment-page-1/#comment-417 Vancouver condos Mon, 12 Nov 2007 18:07:19 +0000 http://blog.assignmentscanada.ca/2007/09/06/home-sales-near-record-for-third-consecutive-month/#comment-417 I don't think buyers at the bottom end of real estate markets were being squeezed out. However, it is true that the market so far this year has performed stronger than they predicted it would. The Canadian real estate boom has seen prices rise throughout the country, and Vancouver has become the hottest market. Recently I have read that Century 21 Real Estate completed a survey of worldwide real estate earlier this year, and determined that downtown Vancouver is the most expensive market in Canada for housing. I don’t think buyers at the bottom end of real estate markets were being squeezed out. However, it is true that the market so far this year has performed stronger than they predicted it would. The Canadian real estate boom has seen prices rise throughout the country, and Vancouver has become the hottest market. Recently I have read that Century 21 Real Estate completed a survey of worldwide real estate earlier this year, and determined that downtown Vancouver is the most expensive market in Canada for housing.

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