Vancouver Real Estate is hotter than ever and, with limited inventory and home demand near record heights, bidding wars and homes selling over the asking price are taking place on a significant number of homes for sale.

“In the past 6 months, on average we’ve been seeing 3-5 offers all the way up to 20 offers on every desirable home on the market. In these situations, it is not uncommon to see homes sell for 5-10% over asking.” – Pete Shpak, TAC Real Estate Agent 

For those serious about winning a bidding war, this means putting your best foot forward with an offer free of subjects to financing and inspection, as well as a tight closing date. All of which put a ton of stress on buyers who feel panicked, picking the next home available instead of the best home for them.

Buying presale can relieve some of the pressure.

In the lower mainland, buying presale means buying a home before it has finished construction and in many cases before construction has even started. Your home may take up to 3 years to be ready for you to move into depending on how early you buy and the type of home you're buying.

Presale affords you the time, selection, and spread out deposit structure desired in such a significant decision. The 7 day rescission period permits you the time to really think through your decision, you can choose between multiple floorplans to find the one that best suits your lifestyle and a spread out deposit structure allows you additional time to save for the deposit, and the end result is a brand new home!

The key to presale success is to stay up-to-date on upcoming projects in your desired neighbourhood. Ensure that you’ve registered online to be first to receive important information, make sure you’re working with a realtor for early information, and our new projects page which lists presale homes that are now selling, as well as presale communities that are coming soon.