64 - Friday, May 8, 1998 - North Shore News Research those condo purchases YOU don’t have to feel alone and confused whert purchasing a condo- minium these days — there is help out there. The Reat Estate Board of Greater Vancouver (REBGV) has recently established a task force to help address concerns and pro- vide advice to the public and its members regarding the purchase of condominiums and townhouses (strata properties). “Realtors help to better educate the public about the home buving process,” says Calvin Lindberg, president of the REBGV. *We encourage buyers to work with their realtors in conducting a cautious, thorough and edu- cated investigation of a property condition before any purchasing decisien is made.” At this time, the REBGV, along with the British Columbia Real Estate Association (BCREA), is urging the government to pro- vide solutions to protect homebuyers. Since 1993, realtors listing 2 property on the Multiple Listing Service have askez their sellers to disclose defects through a Property Condition Disclosure Statement. Recently, BCREA, REBGV and orher Boards have developed a specialty form for condominiums, called the Strata Property Condition Disclosure Statement. “We are constantly adapting and informing cur mem- ber-realtors of changes that affect buyers and seers in the sale of 3 property,” says Lindberg. : All realtors are legally and ethically bound by a strict code of conduct to practise duc diligence and act in the best interests of their clients. “Realtors have a duty to disclose informa- tion they know about a property to buyers,” adds Lindberg. Before purchasing a strata property, REBGV recommends thar all buyers do the following: GREAT PROPERTIES - GREAT PRICES! eas v FAMILY HOME - WATER VIEWS @ Allow sufficient time to consult with an aceredited professional who will inspect a building before any property purchasing deci- sion is made. Obtain 12 months of strata council minutes (if applicable), most recent AGM minutes, strata by-laws and disclosure of new strata by-laws, financial stateme and any engineering reports that may be in process or previously done. Your realtor can help vou with this. to see the Property Condition isclosure Statement (PCDS) before pur: ing a strata property. @ Investigate the warranty program (if applic able) and the fimits and responsibilities of the homeowner. B Consult the municipality and other protes- sionals with regard to building location and performance. @ investigate the background of the develup- dor builders of the building. Vhen reviewing strata council minutes look for: @ Any past problems and special expenditures or reports. @ A written maintenance program or plan. (A Proactive maintenance program insures the integrity of the building and identifics anv construction deficiencies early to help mini- ze the cost of repairs.) B Healthy contingency funds. ® Upcoming large expenditures. @ A council that encourages the cc-mmission of building envelope studies or assessments REBGV is an association of realtors com- mitted to providing its 8,600 menubers with the structure and services to ensure a high standard of business practices and cthics, and to effectively serving the real estate needs of the community. For the most comprehensive and accurate real estate information in the Lower Mainifand, visit the REBGV’s Interner wed site at wwwerealtylink.org . NEWS photo Cindy Good Company man GORDON Jump, the actor who plays the jonely repair guy in Maytag commer- cials, paid a visit to Future Shop at Park Royal South recently. Jump, who was also station manager Mr. Carison on TV's WKAP in Cincinnati, was on hand to sign autographs for the public. Melody Richards cai) 650-3802 Real Estate That Moves You! A consistent North Shore top producer... 10 yrs. Email - melrealty@aol.com CLOSE TO SCHOOLS, PARK, BEACH & SHOPPING Lovely water views from this 4 bedroom, 3 bathroom family home on a quiet street within walking distance to everything. Large rec room on tower level, full bathroom off master bedroom and an inground pool are just some of the features. 441 FELTON ROAD $395,000 DEEP COVE'S BEST VIEWS!! Wow! The views don't come better! 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