Marion Anderson Personal Real Estate Corporation SUTTON GROUP – WEST COAST REALTY
A Balanced Market suggests to some that there should be a lot of action happening in the Whistler real estate market. After all, there has not been this much inventory since September 2020, and there are plenty of Buyers.
When you purchase a property that other people will be renting from you, either nightly or monthly, the insurance coverage needs to include loss of income coverage. Most Buyers have calculated the revenue to afford the property, so if something goes wrong, where will the funds come from to cover the loss of revenue. It’s all great until there is a problem. Whistler insurance agents are well-versed in the potential problems and are ready to offer insurance coverage.
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The Contract of Purchase and Sale should have a condition that the Buyer will research the cost of insurance. It is prudent to start talking with an insurance agent during this due-diligence period. The insurance agent has a list of requirements to offer you the best deal possible. By leaving this process to a few days before completion makes this a stressful process.
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Hiring a Wood Energy Technology Transfer (WETT) Inspector will help determine if fireplace is working properly. A WETT Inspector is one of the professionals you will be relying on when purchasing a Whistler property with a pellet or wood-burning fireplace. When you consider how much of the fireplace is not visible from the living room, and how long the fireplace has been operational, it is hardly surprising that there could be issues. The WETT Inspector will determine the condition of the hearth, fireplace, dampet, flue, vents, and chimney, etc. If it passes the inspection then a WETT Certificate will be issued which is essential to obtaining property insurance.
Continue reading “WETT Certificate”There are two components to financing a house build in Whistler, 1) the cost of the vacant land, or land with a tear-down house on it, and 2) determining the construction cost of the build to secure financing. I can help you with both of those components.
In Canada the borrower does not receive a lump sum from the lender in advance of construction. In addition, the borrower must inject all their funds into the project before the lender will release the borrowed funds. The lender controls the draws, ensuring the build has enough money to complete at every draw. Based on the budget, any overruns need to be covered by your own funds as the loan can’t be (easily) increased mid-flow.
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