Are Multiple Units For Sale a Red Flag?

If you are viewing a condo in a building where there are several other units for sale - is this a red flag?  My colleague, Barry Magee with Sutton West Coast Realty recently wrote an interesting article on this subject.  Whenever you are buying a strata, it's very important to be diligent and ask the tough questions.  When there are several units for sale in a building, it does raise some concerns about the health of a complex - but while the is no real rhyme or reason as to why anyone sells at any given time - if 5 listings come up just after the annual general meeting, this can be a sign of trouble.  Finding a suite that you love can be tricky, but making sure you are in a healthy building with a proactive strata council is essential.  Most strata complexes are run well by dilegent owners and this is often the key to a healthy building.  Tackling the issues head on is always better than attempting to avoid them.  A building will almost always pay more in the long rung if issues are avoided.  Be certain to always have a realtor on your side when purchasing a strata - be diligent.


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