I have not read each entry in this thread. But, there is another method you can use, just in case it was not mentioned. Once you have an accepted offer, even with conditions, you can assign that offer to a third party. If you want, and the numbers warrant it, you can even add a finder`s fee...

In 1978 I was on the reverse end of a $75,000 deal. I was the buyer who wanted out, without going into the minutia. It cost me $22,000 in 1978 dollars to get out of it. In hind sight, it was probably a good move for me to bail, and may have saved me money in the long run. If you have a firm...

The last post makes a very good point. My earlier comment was based on the assumption that you are buying the entire building, not a few units within it. It is my understanding and belief that you could not purchase individual units within a non-active condo corp.

Hi Charly; I am helping a REIN member sell their home through a Rent To Own program. If your friend is interested in that, he/she can get some more information by clicking here, or by getting in touch with me directly. It is close to the corner of Broadway and Oak. Cheers, Dan

You can make your offer conditional upon reviewing ALL documents related to the supposed conversion, just to be sure he has done verything he said he was going to do. Get a release from the seller allowing you to check with the municipality on the status of the conversion. I made an offer on...

Thomas` advice is good advice. Rents do not always continue to go upward, as many of us in the AB market have discovered. Find a good commerical Realtor whom specializes in that area and type of property. Find out what the current rental and market situation is. You may be lucky and discover...

So where can one find this Ebook? Every Ebook that I have seen, including numerous that I have online, are all in PDF format. If you download it, you should be able to print it by hitting "ctrl p", or the print icon in the window it open in. However, it may have printing blocked by the...

Kathi, rental restrictions are one of the hidden threats of investing in condos in BC. Many investors think they are covered by a "Grandfather Clause" if a unit was rented before the impostion of the restriction. To some degree that is true. However, it is not absolute. If the imposition is...

I do not pretend to be a tax expert, but rather I am someone who knows just enough about tax to be a threat to myself. My comments above were about GST on the sale/rental of a newly constructed house. It goes without saying that CRA is going to gets its GST at some point. In an article on...

Contact one of your local Rotary Clubs and tell them what you are planning. You may even be invited to speak at one of their dinners. If they like it well enough, they may even get behind you as a club or district project. Rotary, and I am sure other service organizations do as well, ship...

I speaks Newfunese, Buddy. Duz dat elp, buy? And I also have many contacts in NS, if that is any help.

My experience has been that changing the amount of the monthly payment is not cumbersome at all. Once someone signs a PAP agreement, it is the payee who controls how much is withdrawn, not the payor. The agreement does not get shown to the bank. At least that was my experience three years ago...

I love Pre-Authorized Payments. And, NO, it is not the same amount of work as using cheques. With PAP, you preload all of your payments into the system once. From that point on, you click SEND each month, and the system takes care of the rest. You wait two to three days to get an NSF report...

Check the Resource Section. There is an interview with Mark Loeffler which is full of great info. He is also very free with his advice and information, as I am.

Quick answers: Kathi`s suggestion is a good one. The right to rent a unit, unless it is within the number of rental units permitted in a building, expires within one year of the original tenant`s (at the time of the by-law change) moving out. If the unit is one of the orignally allowed rental...

If an individual investor is GST registered, they also avoid paying the GST on the purchase, in the same way the corporation does.

But, then the other side of that question, Mark, is, "What happens if the TBs do not exercise the option?" It is a used house at that point, and the next buyer is going to object to paying the GST... rightly so in my mind. I am willing to bet CRA wants GST paid now. And, in my mind, it is the...

You are making the right decision. I have had a 30+ year career in this industry, and I have never come across an organization that is as helpful and supportive to all levels of investors. Your membership will be a great investment in your future. You can find the application form here. Good...

I hope you took pictures of the damage. At the very least, write a description of the damage you found, and keep your receipts. Create a book (three copies) with different tabs for presentation of your evidence and rebuttal. Suggested tabs: Photos of exterior of building and of the damage...

In BC strata corporations do have the right to enact by-laws restricting rentals. They can say, No Rentals, X number of rentals, or X% of the units can be rentals. I assume from your comments it is NO rentals. Once a strata unit is rented, the Council has NO authority to tell you when it is...