681 Moberly is located in Building A of Creek Village, one townhouse of 56 in this complex. It is a leasehold property on land leased from the City of Vancouver with the lease due to expire in 2036. Some owners have opted to pre-pay their land lease in the past; others did not. In recognition of the appreciation of land values, The City of Vancouver raised leases significantly 24 months ago for those who had not pre-paid. When buying property in False Creek, it is important to make sure that there are no hidden charges such as non pre-paid leases, or additional restoration levies that have been passed by owners or no undervalued social costs (the disruption of enduring a renovation).
In the case of 681 Moberly all levies outstanding on the unit and passed by Special Resolution up to and including Feb 1, 2011, will be paid by owner upon a sale; the land lease is fully pre-paid; and the unit is fully restored inside and out and ready for habitation and enjoyment immediately.
In order to determine the market value of the property, prices charged and or received by comparable units in the same building are used as a guide. There are no units for sale on Moberly (Building A) where restoration is virtually complete. There are, however, three comparables for sale on Millyard (Building B) where restoration started in early September 2009 and is likely to take another 6-9 months to complete.
Parties interested in purchasing this unit are advised to seek the advice of a realtor familiar with property in False Creek. The selling agents can provide updated information on current asking prices and status of sales in the area. Please contact: