New Provincial Requirements for Contract Assignments Announced:

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The provincial government announced today that beginning May 16, 2016, new rules relating to the assignment of real estate contracts will come into effect.

As part of the new requirements, licensees preparing an offer must include the following terms, unless otherwise instructed by their client:

• this contract must not be assigned without the written consent of the seller; and
• the seller is entitled to any profit resulting from an assignment of the contract by the buyer or any subsequent assignee.

The new rules also include steps that licensees must take if they are involved in a potential real estate transaction where an offer does not include these terms.

 

For more information see:

British Columbia unveils new rules to limit real estate “shadow flipping”

RECBC Contract Assignment FAQ

 

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HOW TO Assess and plan for condo fees.

Where do the strata fees go?

In BC every strata corporation must maintain two funds which are funded by your maintenance fees.

The operating fund and the CRF (Contingency Reserve Fund)

The operating fund is used for common expenses which occur more than once over the course of the year.

For example heating, cable and internet are sometimes included in a strata fee which would fall under the operating fund which would result in a higher strata fee but would be offered at a cheaper cost compared to purchasing these services independently.

High strata fees to cover amenities you may never use may be cause to consideration!

—–> DO YOUR HOMEWORK:
1) A wise buyer will look at the strata minutes for history on the building, and the depreciation reports to have an idea what will be required in the next 30 years.

2) Observing these minutes will give you a better picture on the buildings management style, whether problems are being fixed immediately as well as solutions in order to keep the maintenance fees low. Is regular maintenance provided?

3) It is a good idea to have your professional property inspector to review the minutes to determine if what is seen on inspection is reflected in the minutes. Your professional inspector will also be able to help you understand any special assessments and the depreciation report.

Understanding how and when your money will be spent is prudent to understanding your condo fees!

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Tell Me You Are Motivated After This Article

Well.. Motivation can mean a lot of things. Personally I believe I am a motivated person when I want to be. Yes it is like a flicker of a switch.. You can turn it off or on. That’s how life works to me at least.. I mean if I want to do something what’s stopping me? I want to wake up the next morning thinking that I am an intelligent individual who is capable of anything as long as I set my mind to it. I hope you take that into mind.

 

Here are just a few ways to help you get motivated.. Think about them and then remind yourself.

Find That Inspiration– Are you passionate about something? Do you have that dream profession? Do you have that goal you have always wanted to complete? Think about it everyday, Remind yourself and get crazy about it, remind yourself that you will do whatever it takes to get there. Once you have found this, you can be motivated.

Build Anticipation/Reason– This is huge. This is your MOTIVATION. Lets go back to our Inspiration. So let’s say you want to reach up to that one goal of yours what is it going to take? It is going to take anticipation. Remind yourself why you are being motivated, think of the end goal. No I am going to skip out on dessert tonight because I am trying to eat healthy. Yes, I will wake up at 6am tomorrow because I am training for my season.. remind yourself.

Obtain Support– Without any support it will be hard. I am not telling you to get the whole world to support you.. that would be lovely but a family member or two will do.. maybe a couple of friends? Tell them and talk to them about what you are trying to do. I’m sure they will support you and if not…Don’t get upset, don’t get overly angry.. relax and take a breather and teach your yourself…

Learn to Accept Failure/Rejection In A Proper Manners You will have support don’t worry but you may have some people be hard on you, maybe they don’t believe in you as much as you would want them too? Right? So turn it around. Well I can’t wait to see your faces when I achieve that dream etc.. Tell yourself! Failure…Obstacles.. These are just walls that will get in your way. Go around them. Find a way.

Think About It Everyday- Remind yourself everyday the sacrifices you make and the hard work you are doing in order to achieve this goal. Most importantly, remind yourself of the goal. Tell yourself everyday this is what I need to do etc.. the steps.

It Will Go Away- Okay it’s hard to be motivated every single day for the rest of your life. It will come to you then it may drift away but then it will come back. In those days where you feel less motivated relax.. don’t give up… positive thoughts only! Stick with it.

Believe– You have to believe that you are capable of whatever it is you want to do. This is the first step. How do you expect others to have faith in you if you don’t! It starts from you. You can do it.

These are just a few things I do to stay motivated for any goals that I am trying to achieve. Read carefully and try to understand and follow it! I hope this does help you.

 

 

 

 

A few ways to brighten up your morning.

Well I will start off with.. Good morning!
The morning is probably no one’s favorite part of the day, especially if you didn’t get as many hours of sleep as you liked! Stress and anxiety together control your emotions and how you view day to day. Begin your day happy and relaxed, and you greatly increase your chances of a healthy, productive day.

1) Eat a breakfast- They say you tend to believe it or not gain more weight if you don’t consume a breakfast. True. Breakfast is the most important meal of the day therefore aim to have a nutrient breakfast to give you the energy to start your busy day.

2) Remind yourself- Read a motivational quote and review your tasks of the day or to-do list. Going through these thoughts will ease out your day and not have you worry or forget these errands later on.

3) Take a quick shower- A shower will wake you up and get you out of that tired phase. It doesn’t have to be long.. just a quick in and out!

4) Set your alarm right- You don’t want to be rushing in the morning. Be realistic and set your alarm earlier to avoid you the unnecessary stress. The 15 minutes of extra sleep isn’t worth it!

5) Appreciate and Smile- Wake up with a smile.. and appreciate yourself and everyone around you!

Hopefully this will lead to a brighter morning!

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Vancouver updates…

Well I love this beautiful city.. It only made me realize how much after going away for a year and then coming back. Yes it has its cons but so does every place right? Due to my future ambitions of pursuing the fantastic Real Estate we have here in Vancouver as well as the lifestyle I will daily blog about future projects and articles.. so keep an eye out!