VANCOUVER PENTHOUSE: For Sale by Owner
If you have a question, please ask. We'll reply to all *serious* inquiries by email in a timely manner.
Some questions will appear below as FAQs (anonymously, of course).
Remember: We will only get involved in correspondence if your email includes:
- your name
- your phone number
- location (city/country is enough for now)
- your questions and/or your opening bid
FAQs from prospective buyers
1. What are the mortgage payments, if I want to assume the mortgage?
We are on an accelerated payment plan. Not sure, but we think you could probably bring that back down to monthly payments; don't know what they'd be. Currently we're paying $450 weekly.
2. What's the current balance of the mortgage?
Around $160,000. Assumable. Fixed rate 5.45%. Term to the year 2013.
3. What's the address?
Please click the Locator maps link on the left. You'll get a pretty accurate idea of where the building is located. I presume you're asking because you want to drive by. If you look at the maps, plus the photo page of the Building exterior , you'll probably have no trouble figuring out which building it is. It will give you a chance to check out the neighbourhood.
4. Why didn't you include the price in the Craigslist ad? That's quite discouraging.
Please don't be discouraged! I didn't leave out the price. You will find it along with all the other information on the website I provided about the penthouse -- photos, neighbourhood, the building, floorplan, maps, and more. The website is quite extensive, and will answer all your questions. I thought it was important for people to see all this exciting information at the same time as they see the price.
5. What are the taxes the buyer will pay when buying a home in Canada?
Please check on this and any other legal information yourself; we don't want any confusion to result from getting advice from us about your purchase. After all, we are the sellers. You could start with the following webpages:
- CMHC (Canada Mortgage & Housing Corporation) website about Buying a Home.
- Canadian Homes 4 Sale: Buyers Tips
- TD Trust: Home Buyer Resources
- British Columbia Property Transfer Tax Bulletins
6. Can the condo be rented to others?
Yes and no. Yes means that some of the condos in the building are rented, but most owners live in the building. No means that the strata council has placed a limit on the numbers of condos in the building that can have renters (5% of units). This is a good thing, because it keeps the condo in better shape -- owners care more about upkeep than renters. Currently the maximum rental percentage of units has been reached. If you purchase, you would then put in a written application to the strata council; these are addressed in the order they are received.