CONTACT

Shuchat Group Real Estate Blog

Over the years, clients who are buyers have asked what they might have to do to back out of a deal that perhaps had a "subject to inspection" clause in it or based on some other technicality.  The discussion is probably not as important in a rising market as the seller could probably sell it for a higher price the following month with little in the way of tangible damages.

This all changes as soon as a market starts to approach its peak or perhaps experiences a downward correction. This was the case in the latter part of 2008 when Lehman Brothers in New York started to unravel and the underwritten mortgages which had been parcelled and sold off turned out to be worth a lot less than their face values. The entire market collapsed, and one couple who had negotiated a purchase of a beautiful single family home in Whistler for about $3.6 Million found themselves in a connundrum as the sale of another property of theirs in the US fell through just as others began unravelling.  They didn't...
Read full post
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.