Marion Anderson Personal Real Estate Corporation. SUTTON GROUP – WEST COAST REALTY
The May 2023 Whistler real estate market update saw a strengthening of the seller’s market. The Real Estate Board of Greater Vancouver summarized this market as “…prices continue to rise as home buyer confidence returns…” and this can certainly be said of the Whistler Market. However, when do you know the right time to invest in Whistler real estate? Find out by watching the video…it only takes less than 99 seconds each month to stay informed.
Preamble: Provincial legislation requires every strata corporation in BC of 5 or more units to either acquire a Depreciation Report for the property or defer the report by means of a 3⁄4 vote of the owners at a general meeting. The report projects the anticipated costs of maintenance, repair, and replacement of building components over the next 30 years. Acquiring a report provides a long-term plan for strata property maintenance allowing owners to plan for future expenditures. A vote to defer has an 18-month time limit, resulting in the need to vote again at subsequent AGMs.
Continue reading “Depreciation Report”The Legal Update 2023 BC Financial Services Authority (BCFSA) course featured a section on deposits. The course showcased the importance of treating deposits as serious business. There have been significant legal cases that have set precedents regarding deposits being forfeited by the Buyer. In summary, the days of “trying an offer” thinking that you can get out of it, during the subject removal period, or just walk away and not pay the deposit are long passed.
Continue reading “Deposits”This post explains the legal process for the completion of the contract. It is the Buyer’s lawyer who prepares the documents for closing. Hence the reason it costs more in legal closing costs for a Buyer than for a Seller. In addition, the cost is higher if there is a mortgage involved.
Continue reading “Transaction Completion Process”