As a realtor in Vancouver, British Columbia, I always strive to provide my clients with the best advice to make their real estate journey smoother and more cost-effective. Today, I'm excited to share a tip that could potentially save you a significant amount of time and money when it comes to presale projects.
Presale Projects and the Element of Time
Presale projects are a popular choice for many homebuyers, offering the opportunity to secure a brand-new property before its completion. However, it's important to keep in mind that these projects often take years to be finalized. Within that timeframe, a lot can happen, both personally and in the real estate market.
The Power of an Additional Buyer's Clause
To safeguard your interests and avoid potential obstacles during the construction period, including an additional buyer's clause in the contract is a smart move. Specifically, this clause allows you to add an immediate family member to the contract upon completion, if the purpose is to qualify for financing.
The Benefits of an Additional Buyer's Clause
By including this clause in your presale contract, you can avoid the developer's assignment and administrative fees. In a rapidly changing real estate market like Vancouver, this can amount to significant savings, both in terms of time and money.
Enlist the Help of a Professional Realtor
To ensure that your interests are protected and to navigate the complexities of the presale process, it is essential to have a professional realtor by your side. They will not only help you identify suitable presale opportunities but also make sure that the additional buyer's clause (among other protective clauses) is incorporated into the contract.
In most cases, developers are open to including this clause, as they understand the importance of flexibility in financing and accommodating immediate family members.
Are You Considering a Presale Purchase? Reach Out to Us!
If you are currently in the market for a presale property in Vancouver, I am here to help! I'm well-versed in presale projects and can provide you with valuable tips and guidance throughout the buying process!
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