All Forum Posts by: Alex Kovalenko

Thanks Jaysen - so just let it go? 1 month extra kinda sucks - we wanted to put offers out on some properties ;) 

Our condo is in Quebec a weird province with civil law where you have a notary who is on buyer side.. what pisses me off is that our agent who will profit highly from this screwing us over like this.. 

We don’t live there so have to book flights get kids in school day care etc so this screws our plans a lot

We are selling our condo. Buyers did inspection but now want to see the condo 2 days before they sign with the lawyer because they say they want to inspect the condo after our tenant moves out.

Is that a common practice ? I feel like they are just dragging out the process or have ways to back out.

Can we just deny the inspection? 

We are selling our condo. Our agent told us that closing date would be August 4th so we signed the sale . What we did not know that the buyers never agreed to the date and want it September 4th. We would be out $5k (lost rent plus mortgage / condo fees) - do we do anything about it or just suck it up and wait 1 month? 

We contacted a lawyer but he says his services would be around $1.5k-$4k

Thanks for that . In area where we want to buy condos go for around $350k that you rent for $1,700-$2,200 and houses you can get for $600k that you can rent for around $2,500-$3,000.. seems like  a condo is better investment ? Even though I agree house appreciates around 8% and condo around 5% and no condo fees.. what do you do for house upkeep ? Or renters take care of that?

If you guys had an opportunity to invest for 10 years - would you have purchased house, townhome, or condo? Depends on a market? We are in southwestern Ontario . 

Ideally we would rent it out for 10 years.. It looks like the best is condo as it is a) cheaper, b) gets nice rent vs purchase price (6% rent a year of purchasing price), c) easier to maintain. Thanks for your advise as always.

Hi 

#1. We are selling a condo and agreed on price and date to close (September 4th). 

#2. We have a tenant living there. The tenant was supposed to move out September 4th but has asked to move out before on August 4th.

#3. We spoke to the buyer about that (for them to move in on August 4th instead) and they verbally agreed.

#4. We had another buyer come in and wanted to pay $10k more, our real estate agent said since we already verbally agreed with buyer #1 - we can not accept a second offer. So we said fine, let's go with the first buyer and signed the documents. 

#5. Now the buyer refuses to change the date to August 4th and wants to keep it September 4th. Our agent is an idiot and cant really advise us on nothing. Even though when they sent us paperwork they have said that everyone agreed on August 4th (our new date). We would never have signed it - as we would have preferred a second buyer with July closing date and $10k more. 

#6. Now we are out $10k that we could have gotten more with second buyer plus $5k we will lose in rent and condo fees / mortgage we have to pay.

#7. The reason we want to close in Aug - a) we do not want to lose $5k on lost rent, b) we are buying another property and need the money ASAP before we lose it, c) have 3 kids - so need to do it before school starts, d) we feel like the buyer might back out last minute - while we wait 2.5 months, and we will be out 4 months of time, and will lose additional money as we try to sell to someone else.

Anything we can do? Did this happen to you? What did you do? We have consulted a real estate lawyer , but he wants to charge $3k-$4k to oversee it and does not guarantee the outcome. Would you recommend involving a lawyer at this point?

You guys are awesome - thanks for your advice!

wanted to buy a vacation condo property to rent it out as airbnb and use it for myself but wanted to see if there is an easy way to check if they allow rentals when searching through zillow? thanks

Thanks @Jonathan Greene - amazing feedback. Would save us some money for sure.. How do you do cleaning ? Through a cleaning company or hire a cleaning people directly?