Quote:
Originally Posted by G
Its getting pretty rough out there. I was told by a seller agent that they are not even looking at offers with subjects.
I also agree with no point in putting in inspection for condos, but people try to sneak it in as a way to back out of the contract. The inspection for condos really doesn't do anything other than check to make sure all appliances and mechanicals are functioning and noting them to the potential purchasers. If its a newer condo (1-2 years), there is honestly no point.
Also note that, yes you have 3 day rescission period but it also costs $$.
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Just wanted to confirm that the market has changed since the end of January, market definitely heated up in certain areas of Vancouver/BBY. I was involved in multiple offer bidding wars on a few houses, with 1 situation I was the top bidder, but still lost out due to a no subject offer on a BBY detached. Chatted away with some groups of prospective buyers at some open houses and the consensus is that everyone was tired of waiting on the sidelines and are afraid once interest rates go down, the frenzy is going to come back. I even encountered a couple doing a pre-inspection during an open house, most likely to put in a subject free offer.