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That is pretty much how it should go. I'm surprised as to how many challenges people are posting up here. Maybe its an indication that there are a lot of folks entering home ownership blindly. Dangerous in a market as volatile as BC.
I knew the market wasn't sustainable about 4 years ago when the "dog" house near us finally sold. It had been on and off the market for years and never had much interest. The house was rough, and the property was a mess with easements, busy street entry, etc.
That same house sold once in 2014, and again in 2015, both times for high dollars. When those houses stop selling, I'll know its time to look at RE again.
That said, I lost out on another house in Whistler a few months ago. Another dog, although I knew $100k would do wonders for it. Long story short, we lost out on place over $5000. A seven figure offer, lost out over $5k. It was a funny deal though, with an offshore client..... fuken BC.
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