Pat Miazga

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Recent articles in the Vancouver Sun deal with 2 different strata developments, both with their own set of very difficult issues. The articles I refer to are at:

http://vancouversun.com/news/local-news/dan-fumano-vancouver-real-estate-developer-faces-mounting-lawsuits-extradition-to-u-s-on-fraud-charges

https://www.pressreader.com/canada/vancouver-sun/20170908/281633895392621

I do not know what will happen to the buyers who purchased a pre-sold unit in these buildings, but the articles remind me of the trust placed with the developer in these types of situations. The buyer hands over money and waits for a few years. Most times the project gets built and the buyer receives their units, but not all the time.

I am often asked about pre-sale purchases, and my first questions are always “Who is the developer, who are their directors, what is their track record, have they been around a while and will they be here in a few years?”  I have never seen articles such as these from some of Vancouver’s top developers, such as Polygon Homes, Bosa Construction, Bosa Developments or a number of other well-known developers. All developers have issues over the years, but how they respond is the key.

While location is the key in buying real estate, buying from the correct developer is equally important.

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