Changes to Disclosure Statements for Pre-Sale Condos
Tuesday, October 9th, 2007The Superintendent of Real Estate has introduced two new Policy Statements to further enhance consumer information and awareness and assist purchasers in understanding offerings of real estate developers. Beginning on November 1, 2007, Disclosure Statements filed under the Real Estate Development Marketing Act will require additional information regarding the terms of pre-sale agreements, the background of developers, and potential conflicts of interest.
The full text of the Information Bulletin can be found at http://www.fic.gov.bc.ca/pdf/real_estate/redma-07-03.pdf.
