Buying A Vancouver Condo & Love The Parking Stall Location?
Buying a Vancouver condo for sale? Love where the parking stall is? Nice and close to the elevators? Well it may not actually be the one you get when you move in.
Often the parking stalls are common property.
Common property is part of the land and buildings shown on a strata plan that is not part of a strata lot. It is also the 'guts' of the building like electrical, gas, plumbing etc.
If the parking stalls are common property the people you are buying from simply own the right to use one of the parking stalls which actually belong to all of the owners.
When you move in, you may find you have been assigned a different stall.
This has led to many unhappy buyers and even lawsuits.
Be ultra clear in what you are buying and get it in writing.
Here is a video by Ron Usher of Bell Alliance a Vancouver Law Firm specializing in Real Estate with more information.
Importance of clarity around parking stalls