AVA Showing Promising Buyers Interest
December 7, 2007 by James
Filed under AVA, LEED Certification
AVA is showing that market interest is still strong considering 16 new reservations from the Vancouver Condo Expo just yesterday. Reservations require a $10,000 deposit to secure a purchase once a price is determined. A purchaser is given a price range when originally signing a reservation. When the developer’s costs are known and prices are determined, that is when the buyer has the right to convert their reservation into a purchase and sale agreement.
Reservations give developers a good idea on level of interest and a 60% conversion ratio is considered good.
As of November 7th, AVA already has somewhere between 40 and 50 reservations. Yesterday’s success can be attributed to the strong Canadian dollar, pedestrian friendly location and it’s progressive architecture. While AVA is still in it’s design stages, units are planned to boast hardwood flooring throughout, air conditioning and LEED Silver certified energy efficient construction.
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