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What To Look For When Buying a Home with a Pool

~ What to look for when buying a home with a pool ~

If the pool is open, some home inspection services will check both structural and mechanical aspects as part of their pre-purchase service. If your home inspector doesn’t have the expertise, ask a pool inspector to come and have a look.  Although this can be more difficult in the fall and winter especially if there’s a cover or the pool is empty.


In addition to an inspection, here are a few more questions to ask and things to look for:
• Ask who installed the pool and who has been looking after it. Your realtor should know whether the pool company is reputable.
• Imagine what the backyard will look like in summer, or ask to see photos. Make sure it gets adequate amounts of sun and shade, and check for overhanging trees that will drop leaves in the pool. Check that the lights work.
• Ask for a written assurance from the owners that all pool equipment works. Pool equipment and plumbing can be expensive to replace. The pool or home inspector will check them to make sure they’re working properly and have been adequately maintained.Keep in mind that most of the home inspectors will not inspect the pool you may have to get another inspector that specialize in pool inspections.
• If there are signs of repair, ask what happened. If it’s a vinyl-lined pool, look for tears. Stains may be merely an
aesthetic concern, but they could also mean a problem lurking.
• If there are no obvious tears or cracks, look for water-saturated soil in the area around the pool, pump or
• The water should be crystal clear. If it isn’t, ask why.

• Review the operating costs. For an average 12-by-24-foot pool, the pump shouldn’t cost much more than $40 a month to run. The heating costs shouldn’t exceed $100 a month. And the chemicals should be approximately $500 a season. If costs are higher, it could be an indication that the equipment will need to be replaced soon.

Kind Regards,
Tibor Bogdan


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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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