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done deal

1455 Howe St., No. 1101, Vancouver.Sutton Group, West Coast Realty

1455 Howe St., No. 1101, Vancouver

Asking price: $1.089-million

Selling price: $1.125-million

Previous selling prices: $528,900 (2007)

Days on market: 6

Taxes: $2,722.48

Maintenance Fee: $543.74

Listing agent: Mauricio Vasquez, Prompton Real Estate Services

Buying agent: Ian Watt, Sutton Group, West Coast Realty

The action

Buyer’s agent Ian Watt says the purchaser had sold her previous home and was renting while waiting to buy something smaller. Had she held on to her old house, its value would have dropped by around $400,000 in the intervening time, he estimates. When you factor in what she paid in rent over that time, she still made a good profit.

“She timed it really well,” Mr. Watt says. The buyer plans to renovate this unit and live there. Because it is currently tenanted, the deal doesn’t complete until the end of November. Conditions attached to the original purchase offer were removed on Sept. 13.

The unit has ocean views, floor-to-ceiling windows and an open floor plan.Sutton Group, West Coast Realty

What they got

This 919-square-foot two-bedroom unit is in the trendy Yaletown district. Built in 2007, the building has 24-hour concierge, spa, yoga room and terrace and is within walking distance of the sea wall and Granville Island.

The unit has ocean views, two bathrooms, geothermal heating and air conditioning, nine-foot ceilings, floor-to-ceiling windows and an open floor plan.

The agent’s take

The unit had been listed previously, for $1.2-million and was relisted at the lower price. The buyer had made her offer subject to appraisal to ensure her bank was okay with the price; however, she didn’t need an appraisal after all. Conditional offers are common in this market, Mr. Watt says. “It gives you time to not panic and to analyze what you are doing, instead of being emotional about the purchase.”

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