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Thinking of buying off-plan?

Q: We are about to put our home of twenty years on the market and are considering buying an apartment in the city off the plans. The block we are looking at will be finished in another 18 months so then we can decide whether to move in for a while or rent it out. What are your thoughts on buying off the plans and what are the risks? Julie & Bryan K. A: Interestingly our partner company Loan Market recently published an article on this, s…

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What is a Multi-Offer?

Q: I put an offer on a property last week but was told that my offer was rejected in favour of one through another agent. Isn’t there some process to protect the buyer when two offers are received at the same time? Peter T. A: This is what we call a multi-offer and the REINZ recommends a process to be followed in these cases. This process is intended to provide all interested parties with a fair opportunity to submit their best offer. First…

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Putting in an Offer

Q: I put an offer on a property last week but was told that my offer was rejected in favour of one through another agent. Isn’t there some process to protect the buyer when two offers are received at the same time? Peter T. This is what we call a multi offer, and the REINZ recommends a process to be followed in these cases. All offers should be presented to the seller at the same time so they can compare them and choose only ONE to either ne…

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