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You Know You Should be Using a Realtor When.....

Blog by Claire LeLacheur | March 13th, 2010

I was sitting at an open house this afternoon and a young guy wandered through without a realtor. He really liked the place and started chatting with me about making an offer to the Seller. After a couple of questions, it became clear that he wanted to rent the place out and use it as an investment property.

Herein lies the problem. The building does not allow rentals. When I explained this to him he was quite upset and then decided that even though the building did not allow rentlas he was going to rent it out anyway. Not so.

When the building is stratified and the byalws of the building state that you cannot rent out your unit - then you cannot rent out your unit. The strata does have the option to fine you heavily if you contravene the bylaws.

More importantly, why was this guy just wandering aimlessly around looking at open houses he couldn't buy anyway. What a waste of his Saturday afternoon!

Just use a Realtor! This guy could have saved himself alot of time and trouble and heartache.

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