In 2015 the Provincial Government of British Columbia changed the Strata Properties Act to allow for the sale of Strata Properties when an 80% voting threshold is met amongst owners. Since its implementation, there have been over 500 million dollars in wind-up transactions.
1. Managing Expectations.
Setting the price too high or too low could mean losing out on the hundreds of thousand of dollars or collapse the sale.
3. High Cost.
Strata assembly is an expensive process often involving legal, marketing and consulting fees that add up quickly.
5. Highly Complex.
Strata Assembly is highly complex process that involves getting 80% approval, any error could easily derail months or years worth of your hard work.
Misinformation or misrepresentation of information can be harmful when trying to assemble a Strata for sale.
4. Expertise Needed.
Without having the expertise necessary to assemble and market your Strata, you end up losing more money on any deal.
6. Lone Ranger Aproach.
Dealing with developers individually breaks up the flow of information as well as the potential to maximize the value of your property.
Let’s Take A Load Of Your Shoulders
Assembling your Strata is a challenging process. It is emotional, time-consuming, and expensive; but it does not have to be. With our team of Strata Lawyers, Realtors, Development Consultants, and Transition Teams, selling, buying, and moving are much easier than it could ever be.