The Canada Mortgage and Housing Corporation (CMHC) recently released the results of its 2013 Condominium Owners Survey. This is the first year CMHC has released the results of such a survey. It is intended to provide an enhanced understanding of the activity and role of condominium owners and investors in Toronto and Vancouver, two major Canadian condominium markets.
Highlights of the survey include the following results:
82.9% of the condominium owning households surveyed reside in their unit and 17.1% are condominium investors.
42.1% of condominium investors (the subset of condominium owners who own their primary residence and at least one secondary condominium unit) surveyed had no mortgage on their last purchased condominium unit.
About half of the condominium investors surveyed rent out their last purchased unit, while one third have their last unit occupied by family.
25.7 per cent of condominium investors bought at least one unit in the presale phase of the project (i.e. before the start of construction phase).
http://www.cmhc-schl.gc.ca/odpub/pdf/68161.pdf?fr=1407779831628
Work with Facts Not fiction or Assumptions
David Pylyp
Toronto
Tuesday, February 24, 2015
Thursday, February 19, 2015
Presentation Techniques in Multiple Offers
Sure we can all say have the highest bid, Or make sure there are no conditions.
Baking a Pie?
Maybe a Video about yourself and your family? Hand written letters?
In the heat of the moment are you prepared and ready?
Present in person if possible. Avoid the trap of having your offer SENT IN BY EMAIL. That makes it impersonal, and you are not there to advocate for acceptance. Provide a certified bank draft for 5-10% of the purchase price with the offer; this validates your capacity and intention to Close the transaction. Remove all conditions if possible (pre-inspect if necessary, push your mortgage lender for a commitment)
Clearly Advise Seller that if the property doesn't appraise at the price paid, the BUYER may need to fund the difference from savings.
If you have an opportunity to introduce your buyers; face to face, with the Sellers, this is the time to do it. Ask the Sellers [since your buyers are outside] if the buyers can come in and have a second look around the home. Use this opportunity to have them befriend each other and discuss neighbours.
Are you ready?
Let's get started
We don't meet people by accident; you were meant to cross my path
David Pylyp 647 218 2414
$10.00 Bad Debt Scuppers house purchase
5 years ?
10 years?
Is there a statute of limitations?
Should it matter in 2015 that you filed a Consumer Proposal in 1980?
A recent situation came to light on a purchase transaction that an outstanding credit card balance of $10.00 had remained unpaid for eight years and showed R9 Revolving Charge Bad Debt.
Since there was no other credit information their home purchase was declined.
Another had a Bankruptcy filed in 1980 where a discharge as never recorded. Who is responsible for this error?
YOU ARE!
You have a obligation to search your credit bureau annually and see what others are saying about you and if indeed it is accurate. You have the right to challenge the information and provide proof that entries are disputed or provide proof that things have changed.
Need a conversation?
http://www.renewyourmortgage.ca/services.html
Are you renewing your mortgage?
Subscribe to:
Posts (Atom)