Question 1

What's the development potential of my property?

Accepted Answer

If your property is surrounded by new development or it may have development potential in the future, we can help you make an informed decision on when to sell your property. City officials are excellent resources to find out the developability of your property. We are consistently communicating and networking with city officials in Surrey, Langley, Maple Ridge, Abbotsford, Chilliwack, and Mission, and therefore, we are able to share that knowledge with you. We never want to be behind the curve, so we rely heavily on research and make sure we do our homework in order to provide you with thorough advice and the most accurate pricing.

Question 2

Will I be a part of a land assembly with my neighbours?

Accepted Answer

A land assembly is created when multiple adjacent properties are packaged/sold together as one transaction. Land assemblies have become increasingly popular in recent years as developers are acquiring land at a rapid pace. However, each seller has different timelines, expectations, and needs — so we find that land assemblies are not always useful. A knowledgeable real estate team should be able to sell your property with or without a land assembly in place.

Question 3

How do creeks and easements affect my property?

Accepted Answer

Creeks, easements and right of ways play a significant role in the value of your property. Although a creek or river may sound picturesque to most, buyers of development & investment real estate place less value on impeded land since it cannot be redeveloped or otherwise maximized. Similarly, easements and right of ways play a role in your property's valuation. For example, if a portion of your property is proposed as a future road by the city, the cost of your property will be drastically affected.

Question 4

Do development properties have showings or open houses?

Accepted Answer

More often than not, a simple drive by or walk of the landscape of a property is enough for a developer or investor to know if they are interested as most of the focus is usually on the development potential of the land rather than the liveability of the home. Preparing zoning documents, topography photos and proposed layouts for prospective buyers is sufficient to help them make a decision. In many cases however, the buyer will reserve the right to view the property and if applicable, the home, upon acceptance of the offer. This often surprises land owners but the reality is that most of the value is placed on the land which can easily be analyzed by aerial photos, conversations with city planners, and so on.

Question 5

Do I really need a Realtor when selling?

Accepted Answer

There are many reasons why you should have a Realtor represent your best interests. A specialist who works exclusively in development & investment real estate brings deep knowledge of zoning, OCP designations, comparable transactions, and an established buyer network — all of which translate directly into a higher sale price and a cleaner closing.

Question 6

How do I choose who to list with?

Accepted Answer

You're entrusting a real estate agent with a huge life decision, so it can be difficult to choose the right person or team. It's important to treat the sale of your property as a business decision and choose the avenue which will bring you the greatest return. Everyone knows a realtor, whether it be your neighbour, lifelong friend or nephew, it's important to invest the time and find an agent that will get the job done, seamlessly. When meeting with new clients, we always encourage them to meet with a few other realtors, read their testimonials and view their recent activity in order for them to feel confident in their decision to work with us.

Question 7

What happens when I'm ready to list or receive offers?

Accepted Answer

When you're ready to list your property, we present you with our research and documents regarding your listing, visual tools to showcase the potential of your property to buyers, and we share our action plan with you before you sign the listing. Our goal is to see that you are happy with our approach and that you are confident that we'll get the best results before listing with us. When you are ready, we'll sign a listing contract. There are a number of ways to list a property that fits within your requirements.

Question 8

What type of terms can I expect in the Purchase Agreement?

Accepted Answer

Many clients have been surprised by the flexibility that can be offered in a standard sale agreement for development & investment real estate. Since it is common to see longer completion dates, some options can be built into the sale agreement such as seller to receive a large, non-refundable deposit from the buyer to create certainty for the transaction, and a rent-free term (ex. 6 months/year) after completion date can also be added in the sales agreement.

Question 9

How much do I have to pay in Capital Gains?

Accepted Answer

Capital gains result when you sell an investment or asset (i.e. your property) for more than you originally purchased it for. A percentage of this increase may be taxed as a capital gain. Capital gains should be considered very carefully and we strongly suggest that you discuss these capital gains and tax implications with your accountant and lawyer. This subject can become quite complex due to individual circumstances such as your property type, your financial status, along with many other factors.

Question 10

What is MLS?

Accepted Answer

Multiple Listing Service (MLS) is an online system used by real estate boards to publish and market properties to the general public. All realtors in the province have access to the MLS, which is a source most realtors use to search for properties for their clients and gather comparables.

Question 11

What's an Exclusive Listing?

Accepted Answer

Although most sellers prefer to have a full exposure of their properties, some prefer the exact opposite. Reasons could be, not wanting to disturb their tenants, preserving the relationship with neighbours or even avoiding mysterious cars constantly pulling into their driveway. With a large database of over 500 developers/investors, past clients and counting, we are able to effectively market a property without any signs, MLS, or even your neighbour knowing the property was ever listed.

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