4 Things to be aware of when buying a condo in downtown Vancouver

Congratulations you are probably thinking of purchasing a condo in Vancouver or anywhere else. If you have a good real estate agent and have done your due diligence owning a house or a condo is going to be one of the best things you have done in your life.  For more information on purchasing a house or a condo in Vancouver please, call Oleg Galyuk at 604-565-7052 or email [email protected]

Even though the title of this article is “4 things to be aware of when buying a condo in Vancouver” it could apply to many different areas. Please, make sure to do your proper research and talk to a local real estate agent.

Number one: request and read through strata corporation’s minutes for at least past 2 years. It is important to read strata minutes before purchasing a condo because there is a lot of valuable information you can find out about the building you’re about to move into and maybe even about your strata unit.

Number two: double check parking and storage ownership. In Vancouver buildings rarely have parking stalls that are a part of individual condo units. Usually parking and storage belongs to strata as a part of common property and Strata Corporation assigns each unit their individual parking stall and locker. With that being said Strata Corporation has the power assign any given parking stall and locker to any given unit in the building.

Number three: carefully read strata bylaws. Different strata buildings have different bylaws. Make sure to check the bylaws of the building you’re considering buying into. Pay extra attention to pet and rent ability bylaws; especially if it’s an investment property.

Number four: always request “Form B” that is at most 15 days old. As bylaws and strata rules can change if you are looking at an out-dated “Form B”. The last thing you want is to have unfortunate surprises after the deal completes.

There is a lot of other information that needs to be requested and to be aware of when purchasing a condo in Vancouver or anywhere else. Please, talk to your real estate agent or call Oleg Galyuk (real estate agent in Vancouver BC) – 604-565-7052 for information.