What if I don't like the person you have matched me with?
Easy…we simply find you another match! However, it's important to know that this is not a 'friendship/dating' service. We don't match personalities but rather financial capabilities and personal preferences. By this we mean that we match you based on what you can afford, the area you wish to live in and the type of home you wish to purchase. We also factor in bylaw covenants, your personal needs, preferences such as pets and more. You need to treat the relationship as you would with any investor with professional integrity and courtesy.
Will I have to give up anything with co-ownership?
Depending on the type of home you co-buy you may need to compromise a bit. For example if the home you both choose to buy has a lane house or basement or side suite, then you may have to occupy less of the space than the other owner. However, the other owner may have to pay more for the extra space. It all depends on the co-buying arrangement, the type of house you end up with, and your preferences. Remember you are using this service because you don't have a million or more to buy a home as an individual. You need to go into this with the same attitude you would if you were sharing a townhouse complex with other families.
Does Co-Buying mean I have to share living quarters?
This is where your REALTOR® comes in. Your REALTOR will help you not only something to live in but something you can live with! There are lots of large homes in Vancouver with separate entrances, duplexes, lane homes, large basement suites, side suites and more. That being said, if you're a single student and you want to find a co-buyer, you may not care if you share living space with another buyer. Again, it comes down to finding the perfect match!
Do I have to disclose my financial information?
Anytime you are buying a home, you will need to prove that you are capable of purchasing it at some point. Prior to signing up with Fat Cat City, you need to pre-qualify for a loan because you need to realistically know what you can afford. However, this information is private until you meet with the Licensed REALTOR®.
But I don't want to buy a million dollar home Vancouver…
I want to buy an investment property. Can I still use Fat Cat City?
Yes, we also match up property investors who are looking for a co-buyer and even people looking for vacation property they can co-buy.
Why do need a REALTOR® to partner with you?
We do not charge you for our service…We're FREE! Instead, we get a referral fee from your REALTOR® who will be paid by the Home Seller. We provide you with a REALTOR® or you can have your REALTOR® sign up with us as a partner. REALTORS® who partner with us have to abide by our strict confidentiality rules and our non-discrimination policy and will be required to represent your dual interests equally. Any Full Service REALTOR® can sign up with us by going here: www.fatcatcity.ca/realtorpartner
Why do I have to sign an exclusive REALTOR® contract to represent me and other buyer?
In order to continue to provide our service Free of Charge we require that each co-buyer sign an exclusive contract with our partner REALTORS®. Exclusive contracts bind you to use the REALTOR® for the length of time you work with the REALTOR® under the rules of the Canadian Real Estate Association.
Is there any Cost to using FAT CAT CITY?
There are no up-front costs to you. We charge a finder's fee to our REALTOR® partner which is paid by the home seller.