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Listen "🏡 Navigating PEI Real Estate: Preapproved Lots, Miscommunication, and IRAC Challenges 🚧"
Episode Synopsis
In this episode of The Michael and Patty Show: Living in Prince Edward Island, we dive deep into the complexities and nuances of the PEI real estate market. Join us as we discuss the critical importance of preapproved build lots—are they really preapproved? 🏡 We'll tackle the challenges of last-minute showings, especially when dealing with tourists, and how the ShowingTime program can streamline your process. ⏰We also explore recent controversies, including how the Prince Edward Island Government is using Hurricane Fiona as a reason to delay issuing building permits 🌪️, and the frustration of receiving “blind” offers with no input from the listing agent. Effective communication between all parties is crucial, and we’ll emphasize how miscommunication can lead to issues like inaccurate property line representations, which border on misrepresentation and false advertising. 🚧Other hot topics include the island's ongoing rental car shortages 🚗 and the importance of being specific in your purchase and sales agreements—don’t forget to take pictures of the items you want included! 📸 We’ll also discuss the challenges of valuing unique properties with no comparables and the complexities of buying property as a non-resident, including navigating the IRAC (Island Regulatory and Appeals Commission) and the LPA Database. 📜Lastly, we address the growing issue of buyers fraudulently avoiding IRAC and the misconception that more applicants mean more property acquisitions without proper approval. 🛑 Whether you're a seasoned investor or a market newcomer, this episode is packed with valuable insights to help you navigate the ever-evolving PEI real estate landscape. 🌍PEI Real Estate real-time search/videos/government links: https://michaelshomes.com/links.htmlWhether you're a seller eager to maximize your property's visibility, a buyer navigating the PEI real estate landscape, or even a REALTOR® looking to refine your approach, this podcast is your go-to resource. Michael and Patty bring enthusiasm and invaluable experience to the microphone, guiding you through the intricate dance of buying and selling real estate with ease and expertise. 🌟👩💼👨💼Ready to unlock the door to your dream property?🎧🏡 #PEIRealEstate #DreamPropertyOffer #LivingInPEI #ExplorePEI #PEIConnect with Michael: 🔗 YouTube: Michael Poczynek 🔗 Website: Michael's Homes 🔗 Twitter (X): Michael's TwitterMy mailing list and weekly newsletter. This will deliver to your inbox New listings before they are on MLS®, PEI Real Estate Tips, Tricks and Traps and general information about PEI.Subscribe here: http://eepurl.com/b8yULfConnect with Patty: 🔗 YouTube: Powerhouse Realty PEI 🔗 Website: Powerhouse Real Estate PEIPrefer a more personal touch? Call or text us at:📞 Michael: 902-626-6912 (Century 21 Northumberland Realty (1987) Limited)📞 Patty: 902-626-6622 (Powerhouse Realty PEI Inc.)Thank you for tuning in, and may your day be filled with great opportunities in the world of real estate! 🏡🌟
In God we trust