Originally Posted by chinook79 (Post 9005388)

I have a RE deal that's closing in just over a month and half. all subjects have been removed, and it's undeveloped land. Buyer is requesting us to sign consent form for city so that he can start working on getting permits to develop the land. The property was sold heavily discounted at more than 30% below assessed value. I have no legal obligation to sign the form other than good-will to help buyer get started working on the property.
The risk I can think of by signing consent form is that since buyer hasn't paid full price, there could be issue rising if he finds anything that may impact value of the land. There is no reason to believe that there is any issue with land, but since it has never been developed, it's not an impossible scenario.
Buyer already demanded lowering price once after offer has been accepted on the ground of extra work required than expected prior to removing their subject, and the deal almost broke off.
Would you be signing consent form in my case?

Originally Posted by roastpuff (Post 9005390)

Hey guys, I am thinking of selling my 2BR/2BA apartment and finding a larger townhome-type of dwelling, as my wife and I are thinking of starting a family within the next year or two. What do you think would be better - to hold and sell next year, or try to sell this year?

We would like to sell the apartment to use my equity in it as the downpayment for the next place, which we hope will be between 800k-1m. Currently the other apartments in the area (Marine Gateway) are around 800k, give or take 50k either way, and I expect to have about half of that as equity out of my apartment after fees and taxes and everything else is subtracted.

Originally Posted by Gerbs (Post 9005406)

I like how people can casually hop from a 1 br into a 2br. Decide that isn't going to work and get a detached haha.

Everyone is so wealthy here.

Originally Posted by Hondaracer (Post 9005414)

The one I went to?

Originally Posted by Traum (Post 9005393)

From the practicality point of view alone, I'd just get the selling and buying over with right now instead of waiting until next year. Once le wifey becomes preggers, everything can run the risk of becoming a lot more complicated and troublesome, and I am not even talking about the uncommon stuff.

Life isn't always 100% about money, and I'd say in your case, this would be one of those times to just get the housing stuff done and over with before moving on to the baby making stage.

Originally Posted by JDMDreams (Post 9005403)

^^ I agree too, get your shit straight, I know of people who had kids that went from one bed to two bed, then now they have to sell their two bed to get detached or semi detached. You lose so much just on realtor fees. Do it one time and do it right. Plus the stress of buying and selling, this is all within the last 3 years too, they just sold their 2 bed and took a loss. Just so they can close on their new place

Originally Posted by Gerbs (Post 9005406)

I like how people can casually hop from a 1 br into a 2br. Decide that isn't going to work and get a detached haha.

Everyone is so wealthy here.

Originally Posted by JDMDreams (Post 9005495)

^^ once you get your mortgage granted no one cares how you pay it. Given that mortgages are only granted up to about 40% of your combined income, even if half drops to zero. You should still be able to pay your mortgage. Once you have a kid you get more free money from the government plus mat leave pay. Unless you work at like mcdonald's, but then you wouldn't even be buying a one bed apartment if you worked min wage.

Originally Posted by JDMDreams (Post 9005507)

I've actually seen a few female co workers do this, have a kid, go on mat leave, their position and pay is protected. Come back work for few months, have another kid, mat leave pay again. So it's not like they are going broke. And most Asians have free home childcare by grandparents.

Originally Posted by Gerbs (Post 9005406)

I like how people can casually hop from a 1 br into a 2br. Decide that isn't going to work and get a detached haha.

Everyone is so wealthy here.

Originally Posted by EvoFire (Post 9005409)

One can just take on more debt, debt is cheap(not that I recommend that). Let's say you have a two bed in Vancouver, you can probably go to a detached in Langley for a just bit more debt if you haven't maxed out.