Topic: Listing house early?

[Dimsum]

I'll ask the Brookfield rep this, of course, but I was hoping to bounce some ideas off the group (or whoever has been in this situation before.)

In short, I was thinking of listing my house early (ie. before a revised posting message) and then renting while waiting for that message.  This is a bad idea, I know....however, from what I've seen of the Comox condo market, it's very much tied to the spring/summer seasons, so if I get a posting message later, there's a good chance I wouldn't be able to sell.  I can't rent the place out either, since my strata is full for rental properties already.

A couple of more factors:  The possible posting message I'm waiting for is an OUTCAN, so if I end up on that, trying to sell my house would be even tougher since I'm away.  If the OUTCAN doesn't happen, then I'm posted to Victoria anyway.  I have already "COS'd over" to the unit there, but living in Comox while this gets sorted.  There has been no indication of when the msg would come other than a "hopeful APS 11" (hence me wondering if this is a good course of action.)   

Since I'm already on a posting message to Victoria, would that mean that the legal/realtor fees normally covered by Brookfield would be still covered if I were to list sooner, sell and rent, since I would end up listing later anyway?  Or am I missing something important and should wait until the revised posting message comes through (and chance it on selling possibly after APS) ?

Bit of a "chicken and egg" scenario, I know.  Thanks for any advice.

[Zoomie]

You must be registered with Brookfield in order to receive funds from IRP.  You can't get it after the fact.  So if you sell outside of the plan, you will be out 5% + mortgage breaking fees + lawyer fees.

You can list your condo and have it subject to posting message - this might make your property less favourable.

If your old posting message is still valid (posting to Vic) why not just go off that authority and start the ball rolling with BGRS?  Depending on where you are in your screening process, you could be waiting a bit for a revised message.  Have you talked with your CM and see if he has even received posting authority for the OUTCAN?  If he has it, then all he is waiting for is the screening message to be completed.  If not, you could still be waiting even longer for DMilC to get everything in order.

Good luck.

[Dimsum]

Zoomie, thanks for the tip with the CM's posting authority.  I didn't even think of asking him about that.  Screening (on my end at least) is done and sent to the CM from the OUTCAN coordinator, but I guess the whole thing is stuck somewhere up top. 

[Zoomie]

but I guess the whole thing is stuck somewhere up top.

Dude - you need to find out where it is stuck and add some grease.  Most likely it is stuck at DMedPol - the person to call is listed in the screening message - with her direct email address.  Fire her an email or call her directly and see which Medical department your file is sitting.  I found mine stuck on a Social Worker's desk along with a pile of other files - apparently they were working half weeks or something.

[MJP]

I'll ask the Brookfield rep this, of course, but I was hoping to bounce some ideas off the group (or whoever has been in this situation before.)

In short, I was thinking of listing my house early (ie. before a revised posting message) and then renting while waiting for that message.  This is a bad idea, I know....however, from what I've seen of the Comox condo market, it's very much tied to the spring/summer seasons, so if I get a posting message later, there's a good chance I wouldn't be able to sell.  I can't rent the place out either, since my strata is full for rental properties already.

I listed my house early in 2008 as my timelines were tight as well but only because I knew I had a message coming in the coming weeks.  The Royale LePage folks were a bit surprised but it didn't affect reimbursement of any of my costs.

[Dimsum]

Dude - you need to find out where it is stuck and add some grease.  Most likely it is stuck at DMedPol - the person to call is listed in the screening message - with her direct email address.  Fire her an email or call her directly and see which Medical department your file is sitting.  I found mine stuck on a Social Worker's desk along with a pile of other files - apparently they were working half weeks or something.

Sorry, I should clarify.  It's not stuck at the screening level; it's already done and sent to the CM.  Last word was that it was "in negotiation" between the Strategic Joint Staff and the Australians.  Hopefully the CM has some good news soon.