[Mr.HappySilp]

Originally Posted by Traum

I'd say that once you've accepted an offer, you should contact a lawyer / notary, and they will assist and advise you on how to follow through. Your realtor will take the deposit on your behalf. For the seller, esp, it is really just a walk in the park. The pros will take care of all the details.

The only tricky bit is if you are upgrading, and you already have another purchase lined up to take place very soon after the closing of your sale. When I sold my old apartment, this Burnaby law firm that shall remain nameless literally dropped the ball on their end, and almost wasn't able to get the paperwork done in time to close the purchase. We had our new place lined up for closing, and the purchase was obviously contingent on getting the money from the apartment sale. It would have been *very ugly* if our sale got delay, and it was super stressful for both myself and my notary just dealing with people's incompetency when they were supposed to be professionals in doing this.

I though you could get a bridge mortgage for these type of situation?

Originally Posted by spacemanrick

I have been following the prices of 2 bedroom 800 square foot condos at the 3 towers at the New West Skytrain station at 888, 892, and 898 Carnarvon. These condos are about 10 years old and about 1 year ago they were selling at about $740 to $750 per square foot and in the past few weeks there have been 3 that have sold in the $650 to $680 per square foot range so prices are down about 10% in the past year.

I might be interested in a 2 bedroom unit if the price of the 2 bedroom units go down to $600 per square foot. The large 2 bedroom units at 1,100 to 1,200 square feet seem to be currently selling at $550 to $600 per square foot.

I use this website for sales price information. You can select the units that sold anywhere from the last 7 days to 365 days. https://www.zealty.ca/map.html

Get the bigger place if you can (or course the layout have to be good too). New apartments are getting smaller and smaller where literally you see 600sq ft 2 bedroom apartment out there. When I compare mine 805 to my parents 1100sq ft their apartments seems a lot bigger and is much much more suite for a young couple with a kid. If it is just two people then I would say 800sq ft is fine but but a kid I don't think it will cut it when the kid grows older.