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Sechelt Development - The Watermark at Sechelt
06-14-2013, 07:41 PM, (This post was last modified: 06-17-2013, 07:41 PM by Skook.)
#3
RE: Sechelt Development - The Watermark at Sechelt
June 14, 2013:

I finally found a few minutes today to glance through June's edition of the Sunshine Coast Real Estate Guide and I came across this ad in Bob Michor's section. Michor works out of RE/MAX Top Performers Realty in Gibsons.

[Image: attachment.php?aid=218]

This is another one of those units at Watermark that has been indicated as "Sold" on its website floorplan, but there was no corresponding MLS info. Now, what is odd about this listing is that Watermark still indicates this unit as 'Sold' on the web. As well, this unit is not appearing in Michor's website listings which could mean it is exclusive to Michor. As well, Royal Lepage seems to be the go to agency for Watermark. So...

I wonder who is putting it up for sale? Curiouser and curiouser.

June 17, 2013:

Mea culpa. I go back into my posts to re-read what I have written sometimes days later and often something will jump out at me that I may have missed or an error I may have made. In this case, I missed a piece of information in Michor's ad despite having read it - guess I clued out while reading all the 'watcha gonna get' stuff, and sailed past that sentence on the second row from the bottom that says, "This is an assignment of contract". This explains why the developer has not removed the "Sold" from the floorplan on the website. The developer is not trying to sell it because as far as he is concerned it is sold; rather it is the buyer who signed the contract who has placed it with Michor. This also explains why the unit is not listed on MLS. So, for whatever reason, the buyer wants out of the contract and at the same time doesn't want to lose money so the ad price is more than likely the purchase price. Since this is in Phase 1 which should be completed before the end of summer, the seller may get lucky as that is one of the high demand units at the front. A good explanation of 'Assignment of contract' can be found here.

*********************

Spreadsheet update:
Unit 310, Phase 2, 5725 Teredo St - Sold for list price - $345,900 (06/12/13)
Unit 605, Phase 2, 5725 Teredo St - added to MLS (06/07/13) - List price $684,900


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RE: Sechelt Development - The Watermark at Sechelt - by Skook - 06-14-2013, 07:41 PM

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