Why is a deposit required when making an offer to purchase a home?

A deposit is evidence of a Buyer’s “Good Faith” to purchase the property.  A Seller cannot accurately evaluate the Buyer’s sincerity if there is no deposit on the transaction.  When you are ready to purchase a home, I can advise you of your options on how to best structure your deposit.

 

 

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Steady Growth in BC Homes Sales in 2013!
Courtesy of: BCREA 2013 Third Quarter Housing Forecast Update

Vancouver, BC – January 13, 2014….Great News!!  After declining nearly 12 per cent in 2012, home sales posted steady growth through last year,” said Cameron Muir, BCREA Chief Economist. “Greater Vancouver, Kamloops and Okanagan Mainline Board areas posted the most significant changes, wit ...

Starting January 2, 2014, Canada Mortgage and Housing Insurance Corp (CMHC) will be charging 3.25% premium insurance cost for all new mortgages from Buyers with a 10% downpayment.  The CMHC insurance premium is a vehicle which allows all Buyers with under 20% downpayment to secure a mortgage.  CMHC insures against default on mortgages offered by Lenders. CMHC is backed by the Federal Governme ...

Vancouver, BC - Yes......it's BC Home Assessment value time in our lovely Province!  It's our post Christmas Holiday rev up for Spring. 

I think for most homeowners, the BC Assessment evaulations are a mystery, as they don't appear to co-inside with "Market Value" (what a Buyer may pay for a home).  

Many clients contact me once they have received their Assesment Notice and some are w ...