BC Extended The REDMA Presale Period To 18 Months. Will It Make A Difference?
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BC Extended The REDMA Presale Period To 18 Months. Will It Make A Difference?
In February, the BC Financial Services Authority (BCFSA) announced a new pilot program that would extend the "early marketing period" for large presale projects, in an attempt to give developers more time to get the presales they need to secure construction financing and get shovels into the ground. Under the Real Estate Development Marketing Act (REDMA), developers are required to secure their building permit 12 months after they file the discl…
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