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Does Your Home Inspection Come with a Property Warranty?

You  may have quickly answered, ‘Don’t they all?’ to this question. But,  this isn’t a run-of-the-mill warranty on the service or your inspector –  it’s a unique warranty attached to the property itself that protects  the property’s new owner.

Our Warranty and Client Protection  Program guards against surprises that show up after you take possession  of your new home – things that weren’t evident at the time of  inspection. We all know that it’s possible for sellers to hide certain  deficiencies with their property by cleaning or staging in order to not  have to disclose all issues. While full disclosure is required, key  information is often not shared between the seller and their real estate  professional.

What happens if issues are uncovered after possession?

If  sellers take extra measures to hide problem areas, it’s difficult for a  home inspector to detect every issue. Common coverups include using  bleach to temporarily clean away mould or painting the ceiling to hide  evidence of a leaky roof.

We’ve seen sellers take drastic  measures to avoid disclosure. That’s why we think it’s important to go  above and beyond for homeowners and our realtor partners to ensure the  property’s covered if issues arise after you’ve taken possession of your  new home – with coverage up to five years for some items (check  specifics with your inspector).

By this time, mould would have  returned or rain would have leaked through the roof, for instance, if  these were issues covered up during listing and selling of the property.

This  added protection can be another selling feature to set potential  buyers’ minds at ease. Also included with each inspection are  complimentary: technical advice for as long as the new buyer owns the  property; and appliance recall check, which scans consumer recalls for  dangerous flaws with home appliances. As an added bonus, the homeowner  can then register any other appliance acquired in the future and have  them checked for recalls at no extra cost.

Article provided by A Buyer's Choice Home inspection: https://bit.ly/2AJ3tvD


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What is a pre-sale?

Example scenario: When the developer intends to build an apartment building and applies for financing, the bank will grant financing under certain conditions. One of them will likely be a certain percentage of pre-sales the developer will need to secure before receiving the funds.
It is common practice for a developer to approach several real estate investors and offer them an opportunity to purchase units of the non-existent building at a discounted price, and on good terms.

Once the number of pre-sales is accomplished, the developer goes ahead with the construction, which will likely take two years or longer to complete. During construction, their marketing team offers the remainder of the units for sale at market value to the public.

If you are a RE investor, you know that it is preferable to be buying at the pre-sale prices, not market value prices.

The question is, how do you get the invitation to buy a pre-sale?
In the past many years, investors have made substantial income by buying at wholesale prices and selling at retail prices even before they needed to complete their purchase. I saw many of them lining up and sometimes even camping overnight in front of the sales center to get a chance to buy at lower prices, but not everyone was lucky enough. You needed to be well-connected to get an opportunity, and you had to act fast.

Today is a bit of a different story. Several projects in the Lower Mainland and Fraser Valley offer really good prices and incentives to secure a unit now and complete the purchase two or three years later. The list of incentives varies from one project to the next. Besides attractive prices, you can get low deposit amounts (5-15%), low or no assignment fees, free updates, a mortgage rate buy-down program, extra parking and more.

A month ago, I helped a few of my clients purchase a presale in Surrey that sold out in 2 days, and I know of another good developer that will be offering a few units for sale as well.

If you would like to know more about these opportunities, I would encourage you to call or email me, and I’ll be happy to send you details on those projects.
Kind regards,
Tibor Bogdan
Century 21 Creekside Realty Ltd.
45428 Luckakuck Way #190, Chilliwack, BC V2R 3S9
cell: 604-855-2521
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