Questions we have answered over the last 48 hours, thought they may be of interest to others as well.
Q: Are closings still happening?
Yes, absolutely. Most service providers, from lenders to lawyers, to real estate agents are adapting and following the recommendations of health authorities. The process looks similar with proper prodigals put in place.
Q: Are new listings still coming to market?
Yes, new listings are coming on the market everyday however - year to date new listings were at a similar pace to 2019. Until March when the number of new listings is significantly slower than in 2019. The pace of new listing should continue to decline until we get passed the current.
Q: If I buy a condo that is rented can I take possession and evict the tenant?
Yes the Residential Tenancy Act allows if “the landlord in good faith requires possession of the residential premises for the purpose of residence by himself or a member of his family…” the Landlord has to provide the Tenant with a minimum of 10 days notice of termination of the lease.
Q: Can you recommend a new series to watch?
If you have finished "Ozarks" try either "Hillary" or "Explained" Episode Season 2 #7 “The Next Pandemic”.
Good time to get information on anything real estate related, if you are wondering chances are others are as well. Reach out and we will provide an answer on anything real estate.