Pre-Sale Law Critical to BC Development Industry in any Real Estate Market

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The real estate market continues to be a hot topic in British Columbia, due in large part to property values in this Province outshining the rest of Canada. This past decade in particular could be characterized as the “Decade of the Condo” in BC, as the public was often inundated with stories of overnight line ups outside of sales centres, leading to announced sell-outs of many condominium projects. Underlying these good news stories is BC’s Real Estate Development and Marketing Act (REDMA) and its associated regulations and policies. It is an essential piece of legislation that allows the multi-family, new home market to operate in this environment and an understanding of its function is critical for both developers and property buyers in BC.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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