Legal and Financial

Market Update

Home » Legal and Financial

Estimated reading time: 3 minutes

In October, there were 90 new listings and 53 sales in the Whistler market, with an inventory of 294.
The market type varied: houses leaned towards buyers, while townhouses and condos showed a balanced market.
The HPI declined significantly from the COVID peak, with houses down 15%, townhomes down 6%, and condos down 20%.
New listings have consistently outpaced sales over the past two years, increasing inventory and putting downward pressure on prices.
For more detailed statistics, visit the Market Update page on the website.

Estimated reading time: 4 minutes

Home » Legal and Financial

Financing a house build in Whistler involves buying land and covering construction costs before receiving loan funds.
Borrowers must inject their funds into the project before the lender releases borrowed money; the lender controls the draw process.
Non-residents can obtain a mortgage in Canada, but specialized construction financing is often required.
Borrowers must cover any construction cost overruns with their own funds, as loans can’t easily increase mid-flow.
Getting the right local builder and mortgage broker can ensure a smoother financing experience in Whistler.

Estimated reading time: 9 minutes

Home » Legal and Financial

Getting insurance for a detached house takes time and requires specific documents, particularly related to water and fireplaces.
Key documents include home inspection reports, WETT certificates for wood-burning fireplaces, and details on plumbing and roofs.
A buyer should gather all necessary information in advance to avoid last-minute issues with coverage before closing.
Insurance agents prefer properties with alarm systems and water shut-off systems; these features can help secure coverage.
Inform your insurance provider about any upgrades or improvements to ensure adequate coverage for contents and property.

Estimated reading time: 8 minutes

Home » Legal and Financial

FINTRAC is Canada’s financial intelligence unit, aiming to prevent money laundering and terrorist financing through strict identity verification procedures.
Real estate agents must verify clients’ identities and the source of funds, with serious consequences for non-compliance.
As of October 2025, realtors are legally responsible for collecting information on unrepresented parties in transactions.
When buying through a corporation, directors must provide documents like certificates of incorporation and corporate bylaws for compliance.
The lawyer does not collect FINTRAC information, making realtors the sole data collectors for this purpose.

Estimated reading time: 3 minutes

Home » Legal and Financial

The Statement of Adjustments is a financial statement detailing debits and credits for both Buyer and Seller during a real estate transaction.
In British Columbia, the Buyer’s lawyer prepares the Buyer Statement of Adjustments and the Seller Statement of Adjustments.
Adjustments include property taxes and utility charges, typically calculated based on the adjustment date, not the completion date.
The Statement of Adjustments is signed by both parties a few days before the completion date, often in the presence of a lawyer.
For assistance with real estate in Whistler, contact Marion Anderson at Sutton Group – West Coast Realty.