Langley Presales for only 5% deposit | best real estate deals BC
AS LITTLE AS $17,745 BUYS YOU A PRE-SALE THAT COMPLETES IN 2020!
We have a lot of great investment opportunities within British Columbia! If you are looking to relocate or for a real estate investment, I’d love to sit down and talk with you. Langley and Surrey currently have some great pre-sales that will complete in 2020 and 20201.
- Langley Pre-Sales; only 5% deposit until 2020!
- Surrey Pre-Sales; will complete in 2021. Put your deposit in and sit back and wait until it’s close to completing before either re-selling (assigning) or mortgaging to hold on to!
To discuss Kitimat, the Okanagan, Island, and Kootenays with me, please contact me to chat about other opportunities!
What is a presale condo or townhouse?
Right now, BC has a lot of presale development happening. Vancouver, Surrey (Surrey Central has many developments) Langley, Fort St. John, Kitimat, Nanaimo… well, you get the point, there is new development striking everywhere we look.
The developers will create renderings for new construction and often have a show suite or display suite, that way, we can oooh and ahhh over the finishings and overall size and layout before we buy. The developer will require a deposit, anywhere from 5% to 25%, this is so they can get their financing commitments from the bank to continue with the actual development and construction of the building.
The construction will take anywhere from 1 to 3 years and as soon as it is completed, then the buyer must finalize a mortgage with a bank/lender. Now, some buyers don’t finalize a mortgage, instead, they want to resell it to another buyer before ever having to get a mortgage. When they do this, it is called assigning a property.
It’s assigned because the original buyer that bought the unit 1-3 years ago wanted to take a gamble that if they paid the 5% to 25% deposit and then waited for the building to complete, that the market will have increased during that timeframe. The buyer had no intention on getting a mortgage or actually being on title for the property. They essentially had a signed contract that they were going to buy the unit and then they assigned that contract to another buyer. The new buyer would get a mortgage and have title to the property.
Why You Should Consider a Presale
Presales are great if you have a small amount of money and you want a brand new place to move into. It gives you time to save more money or get your income in check before the mortgage is required. Presales are also great if you are an investor and already own many properties, but have some cash in your account that you want to take a gamble with and put into real estate. Most presales go up in value, but, it’s still a gamble and not a sure win.
2018 is nearing an end and we have seen some big changes in the market over the past 6 months!
While condos and townhomes have been cooling down in sales and prices, single family homes have shifted into a buyer’s market!
If you or someone you know have been thinking of upgrading to a larger home, moving a bit further out of area, or even for an investment property then NOW is the time to actively look!
Referrals that close, receive a $200 referral cheque from me!