As interest rates continue to rise and real estate sale prices continue to slide, some firm deals are unfortunately not closing when the closing date arrives. So what does this mean? And what happens if you were to find yourself in this type of situation?
In this month's Surrey Report, Surrey Real Estate specialist, Steve Karrasch of Macdonald Realty discusses what happens if a firm deal doesnโt in fact close and what that may mean to you as the seller or you as the buyer. As with every Surrey Report, the team also breaks down the August 2022 benchmark stats for the City of Surrey.
Benchmark Prices: (Surrey Combined) (+/- yoy)
๐ Detached = $1,655,900 (+12.2%)
๐ Townhomes = $852,600 (+13.8%)
๐ Condos = $533,100 (+15.6%)
For the complete stats package, please visit http://www.fvreb.bc.ca/stats/
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If you are looking for help or have any questions regarding real estate in Surrey, B.C. or the Fraser Valley, please reach out below using which ever way is most convenient. We also service real estate sales Langley, Delta, White Rock, Abbotsford, Mission, and more Greater Vancouver Cities.
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The opinions expressed herein are solely that of Steve Karrasch PREC and not Macdonald Realty or the FVREB and should not be misconstrued as advice or the basis of an agency relationship whatsoever. Please consult your professional advisor prior to taking action on any decisions relating to the matters discussed in these videos. This communication is not intended to cause or induce breach of an existing agency agreement.
