I love working with first time Buyers.  Some realtors may think the first time Buyer budget isn't worth the effort but I really enjoy working with them.  Why?

1. because it's their first home, they're enthusiastic, not cynical
2. they're usually very flexible-they know they have to be to buy within budget
3. they're energetic & willing to get out there for as long as it takes

Because I'm a parent too, I bring a bit of that with me.  If I wasn't a realtor, I'd want my kids working with someone who goes the extra mile to explain everything in detail, to point out the potential pitfalls, & generally ensure they're make a good decision both short & longterm.  I don't mind the parents coming too for that final stamp of approval.  That's important!

Sign of the times is that quite a few investment properties, mostly condos, have been put on the market.  Investors can't raise rents to offset large increases in operating costs & the resale market is pretty strong.  Some are choosing to cash in and/or cut their losses.

The bad news for renters is that these homes are being sold to Buyers who want to occupy them.  With tenants in place at below market rents, there isn't much incentive for investors to buy.

If you're a Buyer purchasing a property to move into, there are rules that must be followed to give proper time & notice to the current tenants or...you may not have a home ready to move into.

Your realtor should know the protocols required but it doesn't hurt to familiarize yourself by going to the government website  where it's clearly laid out.

Timing is everything so when submitting an offer, it's important to find out if the tenant is month to month & the dates.  Usually tenancy runs from the first of every month, so the Buyer must ask the Seller (landlord) to give notice prior to the next 1st of the month & provide 2 months notice.  This is done with Subject Removal.

Once those dates are established, the Buyer knows the Possession date for moving in which will then be in the Contract of Purchase & Sale.  There is a form that the Buyer's agent must submit confirming the names of the Buyers & that they will be moving in, not assuming tenancy.  That authorizes the Seller to give proper notice to the tenants.

If any of this is missed, it can create problems for everyone involved.  Be smart & get informed, both as a Seller & Buyer.

If you're going through Strata documents when buying into a Strata!

Yes, more about those Strata docs.  There can be a lot to read or not, depending on the age & size of the Strata.  What is important is to ensure that all the documents, typically in a 2 year period are there.  That means cross referencing minutes, making notes while reading, & generally playing detective.

Sometimes, Strata minutes or something else may be missing & can simply be human error.  It happens! It's not intentional, but there may be something of value in that missing information, so it's important that the file is complete.

It can also occur when the listing agent relies on the owner to provide the copies.  That's unusual as a professional agent will order all from the Management company, as is required for the Form B, but it does happen.

Heading into March Break holidays so the discussion is about listings during these few weeks.  We're already at historically low inventory levels so will it get worse or better this month?

It matters most to families.  If you don't have children, you're probably staying home.  I mean, why  would you book your vacation when prices are up, & holiday destinations are crowded with kids?

If you're selling, it could be great to list & leave it with your realtor to be able to show your home & not worry about tidying up for every showing.  DocuSign means we can do a deal no matter where we are so business will still get done.

On the other hand, you may think that the potential Buyers are out of town too so you won't get the market exposure you would in April, or you may be one of those who still thinks we have a "Spring" market.  It's sort of true-people like to list their homes when the weather is better, BUT schools close registration early in the year & if you're in 1 of those areas where schools are full, an earlier purchase in the school catchment is needed.

If you're a Buyer without children, it's a part time job, so the hunt continues.  If you're a Seller of a smaller condo, the Buyers are here.

My guess is listings will be down but hopefully that will bode well for April!

to get the Strata docs.  In fact, the new normal is that the listing agent provides them to the Buyer's agent prior to writing an offer.  That allows a review for any red flags prior to writing an offer.  It saves everyone time.

Typically this all goes according to plan but there are some agents who are slow to order them, which only delays the process, & most recently, I had an agent send me a few Strata documents that he'd received from his client & even required her password access!  That's a hard NO!

I've now added to my Strata documents subject "as provided by the Strata Management company".  These still have to be checked for missing paperwork, & often there is, but from the Seller-just not acceptable or reliable.