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Originally Posted by spacemanrick

I had an interesting conversation with a friend this week. His brother recently bought a new build condo in South Vancouver that was listed for $1,080,000. The realtor for my friend's brother said the developer was offering a $130,000 discount credit on the purchase of the $1,080,000 property. The $130,000 credit was made through a separate addendum to the purchase agreement so the sales transaction shows up as $1,080,000 on the purchase records and I assume MLS. How common is this done by developers to artificially inflate the selling prices of their properties on the MLS?

Its one of their bank covenants for construction loan for the developer. they have a set price. They can use an addendum to give discounts and get around it.