It was our pleasure to open the Lake Country Chapter of Kidsport with a $500 donation.

We want every child to have the chance to participate in sports.

Did you know that the highest concentration of meth related deaths occur in British Columbia?  Since 2003 we have seen a dramatic increase of Meth lab seizures drawing attention to the problem of meth contamination, which will permeate your drywall, carpets, insulation and air ducts, causing serious health problems such as respiratory ailments and learning disorders just to name a few.

Children that have grown up on a contaminated home are more likely to develop learning disabilities, skin problems and long term respiratory disease.

So as a buyer, how can you be sure that the dream home you are considering buying hasn’t been used as a meth lab?  Don’t sellers have to disclose this information?  Not necessarily, there is a loop hole.  Many sellers have not lived in the subject property that they are selling.  In BC a seller can simple cross out the property disclosure statement and not answer any questions on the form by stating “they have no knowledge they didn’t live in the house”.  Moreover many sellers simply check the box that says “no” when asked if the house was used as a meth lab or grow op and then simply disappear after the sale.  Good luck tracking the seller down to take them to court after you discover mould or that your family is getting sick in your beautiful new home.

Of course the seller knows there was a meth-lab in the house, they had to have the house torn apart and renovated either by themselves or hire trades to do so.  That is one of the reasons I always warn people not to purchase a home without the help of a Realtor and to avoid “For Sale by Owners”.

The Share team will utilize their resources and contacts to investigate the home you are considering purchasing to ensure that there has not been a meth-lap or grow op in there.  If we have a suspicion that there could have been we will further research and call in specialized home inspectors.

The high cost of cleaning a home can be anywhere between $10,000 -$100,000 depending on the size of the home, city requirements and the degree of contamination.  Many properties have been left vacant or quarantined as a result.

A thorough home inspection is your best way to identify a potential risk in a home.  I always recommend that a Buyer stay with the home inspector throughout the inspection, asking questions along the way.  Not all home inspectors are as thorough as we would like them to be.  Some home inspection companies now have specific tests to ensure the home you want to purchase is clean and safe.

As your Realtor we take extra precautions to help guide you in the safest ways to avoid these toxic risks when purchasing a home.

In Lake Country for July 2010 there were a total of 26 sales, 10 of which were foreclosures.  So if you are interested in purchasing now is the time to buy that investment property.  Thinking of downsizing, now is the time to purchase even if your not ready to move.  Take advantage of this down market and low interest rates.  We may never see a time like this in the real estate market again.

We have tools to make the process of finding that right property very simple and easy.  Just give us a call and we’ll get you set up so you can keep your finger on the pulse.

With all the hype of foreclosures in the US, particularly Arizona and California, many Canadians are wondering how they can take advantage of the same opportunities here in BC.

Foreclosures in BC are called Court Ordered Sales.  The process of purchasing a court ordered sale is very different than in the US and even different from a typical real estate purchase.

If you or someone you know is interested in taking advantage of court ordered sales in Lake Country or Kelowna, please call us.  The Share Team is very experienced and knowledgeable in working with court ordered sales and financial institutions.

Once a desirable property has been found, we write up an offer just like a regular home purchase with all the standard conditions.

Once the conditions are removed, i.e. Home inspection, financing etc., then that will trigger a court date for our offer to be viewed and approved by a judge.  The Share Team attends that court date on the buyers’ behalf.   Once your court date has been triggered your offer becomes public information.  That means if another buyer is interested in purchasing the same property they will know what their offer needs to be in order to beat your offer.  Therefore it is always advisable to attend the court date and have a new offer ready to present to the Judge with a higher price just in case other buyers show up to the court date.  Of course we would establish a “cap” on the price you are willing to pay beforehand.Some important things to remember about your purchase:

1.  The home is “as is”, no warranties.
2. There will be no property disclosure statement
3. Appliances will not be warranted
4. The home may not be in the same conditions as when you saw it.  Many upset sellers may return to the home to tear out appliances, cabinets etc., or even cause damage.  This is more of a concern in the US as we have not seen much of that activity in Canada.

Buyer and foreclosure or court ordered sale is a process that requires a great deal of knowledge and understanding of the process before you embark on this path it is advisable to work with a experienced realtor such as the Share Team.  Lake Country and Kelowna have many properties that are court ordered sales at present.  There has never been a better time to take advantage of a down market.  The condominium market is flooded and prices are dropping.  Many developers have gone bankrupt or have had to resort to renting out unsold inventory, so if you or someone you know would like to invest in real estate and would like assistance, just give us a call.  Personally, we have never done well investing in the stock market and have always done well with real estate.  At the end of the day the stock market can crash but with real estate you always have a tangible investment even if the value does go up and down a bit.  Remember in time it will always go back up!