Legal and Financial

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Short Video compares 2025 to 2024.

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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.

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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.

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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.

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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.