due diligence: Let the Buyer Beware... - 04/09/11 09:30 PM
With a savvy swagger and access to a wealth of information, it’s clear that today’s consumer is quite capable when it comes to buying a home. The irony is that smart people are still buying homes and having problems. 
It’s commonplace to purchase a home and then discover that there’s something wrong with it after the fact. Just ask one of the 58 Olympic Village owners in Vancouver who have filed a lawsuit against the Developers.
The Internet can be a great way to research but it can also be a source of misleading information, like listing inconsistencies, and incomplete … (2 comments)

due diligence: "Buyer Beware" Seminar - September 17th. - 09/09/09 04:10 PM
Homebuyers get advice from Tri-City REALTOR® - by Gary McKenna - The Tri-City News

Local REALTOR® John Grasty will be holding a seminar this month to discuss the potential pitfalls home buyers face when entering the real estate market. Photo: COLLEEN FLANAGAN/THE TRI-CITY NEWS
John Grasty knows the pitfalls that can come when buying real estate.
In 1997 he discovered the condo he purchased in Coquitlam's Town Centre neighbourhood was one of thousands caught up in the Lower Mainland's leaky condo disaster.
Following the incident Grasty became an outspoken critic of building practices and the provincial governments handling of those affected by … (5 comments)

due diligence: Two common questions asked of Realtors… - 12/23/08 05:18 PM
1. Is now a good time to buy?
2. Is now a good time to sell?
Rather than relying on hearsay, or a well-meaning friend, supposedly "in the know", it is good when consumers turn to industry professionals with such questions.
In answering either question it must always be qualified with, more here [...]
John in Port Moody

due diligence: What should your buyer know about trees? - 12/10/08 08:41 AM
Let me start by disclosing that I am not an Arborist, but a recent story in the local newspaper of a toppled tree, well over 100 feet, raised some interesting questions for me to consider as a Realtor.
Most urban jurisdictions regulate the conservation, removal and replacement of trees.
Whether a tree is deciduous (sheds all leaves) or evergreen, the health, regulation and safety of trees is important for buyers to know.
Establishing whether the tree is within the survey stakes should resolve ownership issues, but what are the possible consequences of roots that cross boundaries?
A buyer will likely not … (1 comments)

due diligence: Home Inspector certification, licensing and regulation across Canada... - 11/27/08 05:32 AM
The origins of the National Certification Program (NCP) for home inspectors in Canada stretch back to 1997 when a report was issued by Canada Mortgage and Housing Corporation (CMHC) that uncovered noteworthy inconsistencies in the skill and diligence of home inspectors across the country that still persist today. 
With the support of CMHC, Human Resources and Social Development Canada and the Construction Sector Council, a voluntary national accreditation and certification program was developed by the Canadian Association of Home and Property Inspectors (CAHPI) in an attempt to help ensure the competency and professionalism of home inspectors. Home inspectors who have met the … (2 comments)

due diligence: How do I avoid buying a leaky condo? - 10/16/08 06:28 AM
One year ago the following article I wrote was published in the "pros & condos" section of Western Living Condo. Since then I have made it available to the public and other Realtors through my website and seminars. From feedback received I know it has already helped buyers so I thought it would be a good idea to blog post it.
How do I avoid buying a leaky condo?
The number of blue and green tarps sprouting on older condos grows every year. "The only way to minimize the risks is through the buyers' own due diligence," says John Grasty, a licensed … (2 comments)

due diligence: Is it a Quirk of Fate...? - 09/20/08 09:53 AM
Leaky Surrey hotel at centre of lawsuit -Ted Colley, Surrey Now - Published: Tuesday, August 26, 2008
Is it a quirk of fate that the Sheraton Guildford Hotel leaks?
For many years the home builders association has been holding seminars for homebuyers at the Sheraton Guildford Hotel.
As a co-founder of the Coalition of Leaky Condo Owners, I along with some of my concerned colleagues attended these seminars between 1999 and the early 2000's to warn homebuyers that everything isn't necessarily as it appears or as it is being represented.
Our tactic was to sit as close as we could to … (0 comments)

due diligence: Buyer Beware; a public service seminar - 09/17/08 01:40 PM
With all the responsibilities of buying and selling real estate, the need for risk management is crucial.
Whether pre-sale or resale, the onus for property evaluation is always on the buyer, although it is becoming more popular with sellers to have their own pre-sale inspection done to ensure that they are disclosing what needs to be disclosed.  In today's real estate marketplace with an overbuilt supply of homes available, sellers will need to proactively prevent objections while buyers can be more demanding and feel more confident.
In an attempt to reduce uncertainty and protect themselves buyers and sellers I am working with will seek … (2 comments)

due diligence: What to consider about Defects: the Disclosure and Due Diligence… - 07/13/08 01:00 PM
 Defects: the Disclosure and Due Diligence...
Providing misleading information or concealing known information during a home sale would make a homeowner highly susceptible to lawsuits, and it happens.
A disclosure statement is a statement in which the sellers reveal to potential buyers (whether the buyer asks or not) specific information about the condition or other aspects of real property that would affect the property's value or desirability.
Patently obvious defective conditions ("patent" defects) in a home that must be reported are those, known, openly exposed, and easily found on inspection. 
In most jurisdictions the process of listing a home requires us … (1 comments)

due diligence: Questions for Sellers ... - 06/07/08 08:06 AM
You probably won't find the following questions on your average real estate brochures:
Sellers, do you:
know to what extent that you want to be involved in the sale? have a coherent strategy? know how to attract the serious buyers? understand what a stale property is? know the consequences of not disclosing properly when selling? have a plan if your home doesn't sell? want to minimize your stress (from the uncertainty)? expect to get (at least) what you pay for? We want you to feel confident that your home will be sold, and properly.  We will customize and personalize a plan … (3 comments)

due diligence: Questions for Buyers ... - 06/07/08 04:48 AM
You probably won't find the following questions on your average real estate brochures:
Buyers, do you:
take real estate ads at face-value? know how to properly target your future home? have the experience required to negotiate favorable (including safe) terms and conditions, and a fair price? know how to do your own due diligence? have the upper-hand in a multiple offer situation? know that many single homes were built with the same technology as "leaky condos"? want advantages that other buyers probably don't have? have a proper strategy? want to avoid buyers remorse? -Real Estate need not be risky! 
You will … (0 comments)

due diligence: Holmes On Homes: 70,000 requests for help this year... - 03/12/08 05:20 AM
70,000 requests for help is an awful lot of letters.  It makes one wonder how many people don't even bother to fight (or report) a system that favours the building industry rather than protect consumers?
I suspect many of these requests never end up scored in the statistics collected by either the provinces, or the organizations to which the responsibility has been downloaded in some cases. The result is skewed reports fed to the media on how well the building industry is doing; NOT!
This is a very sad commentary on the state of the home building industry.  While the role of Holmes On … (15 comments)

due diligence: Developer pulls out of project, again... - 03/02/08 05:17 PM
A few years ago the Bambu development on Vancouver Island was cancelled.When the plug was pulled on Riverbend last year, you might have thought that it would be big enough to get some real legislative changes made, especially after making national news: http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20070507/BC_homeowners_070507. Well now the Eden Group of Companies has cancelled 3 projects; big enough again for national news coverage: http://www.cbc.ca/canada/british-columbia/story/2008/02/27/bc-condosintrouble.html."If a proposed development does not proceed and the purchase contract is terminated, pre-sale purchasers are entitled to have their deposit money repaid. However, unless the pre-sale contract requires interest to be paid, the purchaser may not receive interest on that deposit." http://www.hpo.bc.ca/PDF/Bulletins/Pre-Sale.pdf.If a termination … (0 comments)

due diligence: Condo floor plans can be too good to be true: lawyer - 02/28/08 07:08 AM
Condo floor plans can be too good to be true: lawyer
With so many multifamily developments failing, ‘weasel word' warranties, and the legalized ‘bait & switch' tactics, such as the misrepresentation of floor space, the general business acumen and morality of builders and the home building industry leaves the consumer with little trust and an overall lack of confidence.
Relying on the developer to build what they promise is a recipe for a disaster.  Doing research into the reputation of a builder is impossible and worse, can be misleading.
Government doesn't appear to believe they have an obligation to protect the people that elect … (1 comments)

due diligence: How will certifying home inspectors help consumers? - 02/07/08 05:01 PM
The BC Ministry of Public Safety and Solicitor General is inviting you to participate in a consultation on licensing home inspectors.  The consultation provides an opportunity for British Columbians to be part of the process of developing appropriate regulations to enhance consumer protection.The move to regulate home inspectors is being met with some cynicism. "It's good," Grasty told the Straight. "The only problem is, what teeth is it going to have? You certify these people, but how qualified are they? Can consumers sue them? If a person hires a home inspector, they have to sign documents which are full of disclaimers. … (3 comments)

John Grasty, Your Tri-cities REALTOR, neighbour and volunteer. (for real estate results in the Tri-Cities.) Rainmaker large

John Grasty

Your Tri-cities REALTOR, neighbour and volunteer.

Port Moody, BC

More about me…

for real estate results in the Tri-Cities.

Address: 3137 St. Johns St, (Coquitlam-Port Moody-Port Coquitlam Real Estate), Port Moody, BC, V3H 2C8

Office: (604) 421-1010

Mobile: (778) 878-0778

Email Me

(formerly the Adoxographist's Blog) ...skilled writing about an unimportant subject, or is that unskilled writing about an important subject? Well I don't know so as things unfold please judge for yourself... ...don't forget to leave a comment, and thanks for visiting. John Grasty is a REALTOR® serving the Tri-Cities (Coquitlam - Port Coquitlam - Port Moody) real estate market. Please check out John's website: http://www.RealEstateEvolved.com




RSS 2.0 Feed for this blog