Home Buyer Rescission Period Began Jan 3

Home Buyer Rescission Period began January 3, 2023

The new Home Buyer Rescission Period (“HBRP”) is now in force for residential real estate transactions in the province.

 The B.C. government introduced the HBRP, also known as the “cooling-off period,” as a consumer protection measure to give home buyers time to consider whether a purchase is right for them. HBRP gives buyers the right to rescind their offer up to three business days after the offer is accepted. If a buyer changes their mind, they must pay a 0.25% rescission fee to the seller.

Often contracts of purchase and sale contain subject clauses that provide buyers and sellers with an opportunity to perform their due diligence. The right of rescission is separate from any subject…

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Canada & BC Government Changes January 2023

CANADIAN & BRITISH COLUMBIAN GOVERNMENT LEGISLATIVE CHANGES COMING JANUARY 2023

Foreign Buyer Ban

Beginning January 1, 2023, non-Canadians will be banned from buying residential property across Canada for two years. Although the federal government has still not released supporting regulations at this point, the Canadian Real Estate Association and BCREA will notify REALTORS® as soon as any guidance is released.  There are some exceptions (and Whistler may be one of them), full details won't be available to us until January 1st (frustrating I know!)

Click HERE to read the full article.  

Home Buyer Rescission Period

Also beginning January 3, 2023, The HBRP provides buyers an opportunity to rescind their contract to purchase certain…

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BCREA Listing & Selling Tenanted Properties

Listing and Selling Tenanted Properties 

Listing and selling tenanted properties can be complicated and add complexity to a transaction. From coordinating showings, to providing vacant possession, to provisions in contracts for standard adjustments at closing, there is a lot for REALTORS® to know and understand.

Coordinating Showings

At common law and under section 28 of the Residential Tenancy Act (the “Act”), a tenant has the right to quiet enjoyment of the rental unit. This means they are granted the right to reasonable privacy, freedom from unreasonable disturbance, and exclusive possession of the rental unit.1 This right of quiet enjoyment can sometimes make showing a tenanted property a bit more complicated. REALTORS®…

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What does CMHC say about the Foreign Buyer Ban?

What does the CMHC say?

In its most recent post, CMHC has received public feedback and is working to finalize the details and regulations under the Act, and how to enforce it.

CMHC's summary of the legislation is:

"The Act prohibits non-Canadians from purchasing residential property in Canada for 2 years. This act doesn’t affect Canadians and permanent residents. There may be exemptions for certain groups of people, types of residential property, and particular circumstances – these have not yet been established. (Once we’ve reviewed your feedback, we can establish the exemptions.)

The Act:

• restricts non-Canadians from avoiding the prohibition by using corporations or other entities to purchase residential property
• allows the…

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Foreign Buyer Ban of Canadian Property

Foreign Buyer Ban

The Canadian Real Estate Association (CREA) published an update on the "Prohibition on the purchase of residential property by non-Canadians Act" (also called Foreign Buyer Ban) which comes into force January 1, 2023.  

While Whistler avoided British Columbia’s Foreign Buyer Tax (implemented in August 2016) and the Speculation and Vacancy Tax (SVT) (introduced in the province’s ‘Budget 2018’), it is not going to avoid this Ban.  Based on BC's experience with these taxes, such measures have had a small and often temporary effect on real estate markets, housing availability and affordability. The effects are largely isolated to large metropolitan markets, with no statistically significant impact in smaller communities.  The Act:

…

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Whistler Real Estate Tuesday April 30 Weekly Update, Just SOLD Listings, Our Favourites & More!

​   Our series continues with Eileen Craig from Sea to Sky Mortgages. We sat down to talk " Tips for First Time Home Buyers" - Click to find out!    CLICK HERE TO WATCH THE FULL VIDEO Whistler Weekly Update   12 New Listings in the past 7 days CLICK HERE 7 Price Changes in the past 7 days CLICK HERE 5 Completed Sales in the past 7 days CLICK HERE 321 Current…

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NEWS: 2019 Mortgage Rate Forecast from the BC Real Estate Association (BCREA)

The BCREA is "forecasting that lower mortgage rates will prevail for all of 2019 with the average 5-year contract rate falling to 3.30 per cent through the spring and early summer and the 5-year qualifying rate finally moving below 5 per cent for the remainder of the year."

For more information:
http://www.bcrea.bc.ca/docs/economics-forecasts-and-presentations/mortgagerateforecast.pdf

What should you do?
Find out what your options and find the suitable rate for you and your plans.
Talk to Eileen Craig with the Sea to Sky Mortgages at http://eileencraig.ca/about/contact/

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RE/MAX Sea To Sky March Update: 3 HOT NEW Listings, Sold Listing Update And More!

Your Sea to Sky Newsletter Happy Spring from The LEADING EDGE Real Estate Team! *NEW* FEATURED LISTINGS #20 - 4325 NORTHLANDS BOULEVARD,  SUNPATH, WHISTLER  Listed at $1,150,000 The only established AirBnB 2 bedroom, 2 bathroom 851 sf Sunpath at Stoney Creek townhome. Sunpath is the most popular townhome complex in Northlands Row being closest to the ski hill to walk or catch the free ski…

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Whistler Real Estate Tuesday March 19 Update, 3 NEW Listings, Our Favourites & Whats On This Week

CLICK HERE TO WATCH THE VIDEO Whistler 7 Day Update   42 New Listings in the past 7 days CLICK HERE 12 Price Changes in the past 7 days CLICK HERE 5 Completed Sales in the past 7 days CLICK HERE 331 Current Listings in Whistler CLICK HERE​​​​ …

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HOT February Listings, Thank You's & More!

Thank you, Gary Serra,Gary Serra, our fellow RE/MAX CREST REALTY WESTSIDE agent, for taking care of our wonderful client in Vancouver!! We appreciate that and we're always excited to hear about our happy clients. Thank you! FEATURED LISTINGS #350-4591 Blackcomb Way Four Seasons, Whistler LISTED AT $670,000 The only suite of this layout in the premier Four Seasons Resort Whistler. Experience true indulgence in your own 902 sf corner suite that sleeps 4 with 2 sides of expansive windows facing N/NW that…

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