Quote:
Originally Posted by EndLeSS8
So my parents helped my wife and I to buy a pre-sale apartment near Metrotown. It's due for completion in 2017
I got a phone call yesterday from the realtor who sold it to us, saying that she has on offer for my place (again, unfinished, due to complete in 2017) of $100k above what we're paying for it. She says we'll pocket $80k out of it
Seems shady....
I'm new to this whole crazy real estate crap, any thoughts?
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First off, did you sign any assignment restriction contract with the pre-sales people?
Secondly, ask yourself this. How much did you pay for your unit?
If you were to buy another pre-sale unit that is similar in size and location, how much more would it cost you?
Without knowing #2, it's hard to say yes or no to it being shady.
For example, if you bought the unit last year for $500K and now it cost $800K to buy a similar unit, then yes it is a little shady.
Oh wait. Just re-read your post. I say yes.
It was the selling realtor that contacted you, not your buying realtor.
Check on MLS and see what similar units are going for and I bet VR6GTI is right and that the market may be up more than $100K a similar unit.