Last October a building in North Van offered a $100,000 price drop guarantee.
Yesterday a reader with the handle Not much of a name updated us on how that’s working out:
I just got an update from one of my favourite condo buildings in North Van, The Kimpton. This is the development that was offering the $100k “Price Drop Guarantee” back in October. Fast forward six months and a unit came through as a sale yesterday.
Original asking price – $750k
Listed price in Jan – $650k
Sale price – $575k
That’s $175k in six months.
If you’re looking to buy a condo these days would a ‘price drop guarantee’ soothe your worries about overpaying or would you rather just have a ‘free’ car?
Submitted by Nom