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05-21-2021, 08:23 AM
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#18601 | | I answer every Emotion with an emoticon
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If you had to ask... then you probably need a realtor to cover your ass when the paperwork doesn't work out.
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05-21-2021, 08:58 AM
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#18602 | | RS has made me the bitter person i am today!
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you better negotiate a good 'giving back' offer from the developer because the reward is much more in favour for the Developer's agent.
I've done a few resale without a realtor. Make sure to double/triple check all the documents to make sure they are filled correctly. I've had cases where the Developer's agent spelled my name incorrectly.
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05-21-2021, 10:13 AM
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#18603 | | in the butt
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| Quote:
Originally Posted by greenlantern  Developer willing to "give back" in decorating cost.
thanks | Sure hope its 12,000$ in decorating costs per every 500k of purchase price 
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05-21-2021, 12:12 PM
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#18604 | | My homepage has been set to RS
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The commissions for a realtor is about...
3.1% for the first $100k, then 1.15% for every additional 100k
$12k on $500k purchase is too high.
I would say it's more like $7-8k in realtor fee's for a $500k sale.
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05-21-2021, 12:37 PM
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#18605 | | RS has made me the bitter person i am today!
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it will be an achievement if you can get 5k+ for kick back on a 500k home. if they are open to it without hesitation, it sounds more like a desperate realtor looking to close a sale.
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05-21-2021, 01:22 PM
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#18606 | | private modder
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I guess the question is why NOT use a realtor? It doesn't cost you anything.
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05-21-2021, 01:58 PM
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#18607 | | RS has made me the bitter person i am today!
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Originally Posted by Eff-1 I guess the question is why NOT use a realtor? It doesn't cost you anything. | You lose the developer's kick back incentive. instead having the whole pie, the developer now has to split it in half with the realtor.
Maybe find a way to negotiate with both the realtor and developer for a kick back to meet somewhere in the middle.
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05-22-2021, 09:44 AM
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#18608 | | My homepage has been set to RS
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If the developer kickback is anywhere around $3-4k, I would just go with the developer.
Realistically, what can happen to you in a pre-sale? If there is a big project, I wouldn't be worried about being screwed over. Besides, what is a realtor going to help you with besides helping you with the paperwork?
If the realtor is competent, s/he will just check the disclosure documents to make sure everything is good, but there's not much else the realtor can do.
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05-22-2021, 12:59 PM
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#18609 | | Rs has made me the woman i am today!
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You can write in clauses that you can grandfather in regardless of what the strata enacts later.
Things like being allowed to work on your car in the parking lot, being allowed to out and not be included as part of the rental restrictions, etc etc.
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05-22-2021, 10:20 PM
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#18610 | | NEWBIE ACCOUNT!
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thank you everyone for your feedback and suggestions.
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05-24-2021, 09:59 AM
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#18611 | | My homepage has been set to RS
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Originally Posted by EvoFire You can write in clauses that you can grandfather in regardless of what the strata enacts later.
Things like being allowed to work on your car in the parking lot, being allowed to out and not be included as part of the rental restrictions, etc etc. | I don't think stratas are allowed to restrict rentals anymore. Those are only grandfathered for old stratas that had those restrictions in place before.
I think it was because of the housing shortage, stratas aren't allowed to restrict rentals anymore.
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05-24-2021, 11:50 AM
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#18612 | | private modder
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Originally Posted by EvoFire You can write in clauses that you can grandfather in regardless of what the strata enacts later.
Things like being allowed to work on your car in the parking lot, being allowed to out and not be included as part of the rental restrictions, etc etc. | You have a source for this?
The developer sets up the first set of bylaws, which are usually the standard bylaws with some amendments. 12 months later, the council will hold an AGM and can put forth any bylaws they want to the owners for voting and approval.
If an owner came along and said they signed something with the developer (who by this time is now long gone) that allows them to not follow the bylaws or rules everyone else voted on for approval, I'd be inclined to tell them they can't do that.
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05-24-2021, 12:11 PM
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#18613 | | RS has made me the bitter person i am today!
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The only way I can see that happening is if the clauses are written in the title as a covenant. Which seems highly unlikely for a strata condo.
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05-24-2021, 03:22 PM
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#18614 | | RS.net, helping ugly ppl have sex since 2001
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Not sure about clauses, but from my families experience in past condos. They abide by any bylaws in the disclosure statement. Things like pet and rental restrictions are grandfathered to the original owners if implemented after.
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05-24-2021, 08:24 PM
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#18615 | | Rs has made me the woman i am today!
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Originally Posted by Eff-1 You have a source for this?
The developer sets up the first set of bylaws, which are usually the standard bylaws with some amendments. 12 months later, the council will hold an AGM and can put forth any bylaws they want to the owners for voting and approval.
If an owner came along and said they signed something with the developer (who by this time is now long gone) that allows them to not follow the bylaws or rules everyone else voted on for approval, I'd be inclined to tell them they can't do that. | It's admittedly from a few years ago, but when we were looking to buy our first home, presales were part of the ones we looked at. A few of them mentioned writing in clauses to be grandfathered into our contract before the development is done.
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05-24-2021, 08:57 PM
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#18616 | | private modder
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Originally Posted by hud 91gt Not sure about clauses, but from my families experience in past condos. They abide by any bylaws in the disclosure statement. Things like pet and rental restrictions are grandfathered to the original owners if implemented after. | Yes and no.
All residents abide by the bylaws filed by the developer and are in the disclosure statement.
Once a council takes over, if at the next AGM, the owners vote and approve to amend the bylaws to add pet, rental or age restrictions, anyone who already has a situation that would be contrary to the new bylaws are given an exception until their situation changes.
For example, if you have a dog, you get to keep your dog until you no longer have that dog. But if you don't have a dog, you don't get to ignore the new bylaw and get a dog (contrary to the new bylaw) because you're an original owner.
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05-25-2021, 12:39 PM
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#18617 | | private modder
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Open Road Auto Group getting into the RE game now. https://openroadautogroup.com/blog/r...ly-project-e15
Gotta admit, from experience, I'd stay away from any first-time developer, no matter who it is, if buying a presale again.
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05-25-2021, 12:47 PM
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#18618 | | RS has made me the bitter person i am today!
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don't they already own and build their dealerships? So technically they aren't really that new with RE. I'm sure they've poached a number of PMs and DM's from other Developers.
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05-25-2021, 01:05 PM
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#18619 | | RS.net, helping ugly ppl have sex since 2001
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Originally Posted by Eff-1 Yes and no.
All residents abide by the bylaws filed by the developer and are in the disclosure statement.
Once a council takes over, if at the next AGM, the owners vote and approve to amend the bylaws to add pet, rental or age restrictions, anyone who already has a situation that would be contrary to the new bylaws are given an exception until their situation changes.
For example, if you have a dog, you get to keep your dog until you no longer have that dog. But if you don't have a dog, you don't get to ignore the new bylaw and get a dog (contrary to the new bylaw) because you're an original owner. | Theory sounds correct. I don’t know the details but my moms always been grandfathered into no rental restrictions with her units. Despite having no tenant previous to any new bylaws. Saying that, she is a realtor and maybe did write some “clauses”.
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05-26-2021, 08:33 AM
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#18620 | | I told him no, what y'all do?
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seems like a boutique architecture firm. if they partner with a good builder and their subs, could work out. have fun building to step 4 in CoV 
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05-26-2021, 05:00 PM
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#18621 | | RS has made me the bitter person i am today!
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Originally Posted by bcedhk it will be an achievement if you can get 5k+ for kick back on a 500k home. if they are open to it without hesitation, it sounds more like a desperate realtor looking to close a sale. | I got $3.2K back on $520k Purchase. $5k is pretty the entire sellers commission before broker fees and taxes lol
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05-27-2021, 10:24 PM
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#18622 | | RS has made me the bitter person i am today!
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OUCH...who got their property taxes notice recently? (2021).
$5281. before grant. blech....
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05-27-2021, 11:04 PM
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#18623 | | I *heart* Revscene.net very Muchie
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Originally Posted by Acura604 OUCH...who got their property taxes notice recently? (2021).
$5281. before grant. blech.... | ours was over $6k =(
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05-27-2021, 11:25 PM
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#18624 | | Captain Happy Bubble is my Homeboy
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How does that compare to last year? How much of an increase is that?
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05-27-2021, 11:54 PM
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#18625 | | I subscribe to the Fight Club ONLY
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Shxt... is it that time of the year again?
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