Legal and Financial

Who discloses UNAUTHORIZED space?

Estimated reading time: 4 minutes

Unauthorized accommodation in Whistler refers to rental suites not included in the original building plans, posing risks for buyers.
Sellers must disclose unauthorized accommodation as a Material Latent Defect, affecting liability and property value.
The listing realtor must provide a Realtor Material Latent Defect document disclosing any defect that may affect the value of the property to the buyer.
The RMOW requires permits for properties with unauthorized accommodation, especially for nightly rentals.
Buyers should carefully evaluate properties with unauthorized accommodation and understand the legal implications.
Consulting an experienced Whistler realtor is crucial when navigating properties with unauthorized accommodation.

Estimated reading time: 5 minutes

Whistler real estate involves Residential Zoning and Tourist Accommodation Zoning, which can combine for rental purposes.
Phase 1 Rental Covenant allows nightly rentals for property owners with limited personal use.
Phase 2 Rental Covenant requires properties to be available for public rental, with restricted owner use.
Zoning affects property use, so understanding local regulations is crucial for buyers and renters.
To operate nightly rentals, you need a license from the Resort Municipality of Whistler (RMOW).

Estimated reading time: 4 minutes

Signing the Disclosure of Representation in Trading Services (DORTS) form binds the agent to four legal obligations including loyalty and confidentiality.
The DORTS form should be signed at the beginning of the relationship, ensuring clarity on the agency agreement.
Dual Agency is banned in Whistler, meaning different agents must represent the buyer and seller to ensure fair representation.
The BC Financial Services Authority (BCFSA) regulates the real estate in BC and imposes significant fines for non-compliance with the DORTS form.
The Home Buyer Rescission Period offers a ‘cooling off’ period for buyers who feel regret after making offers without conditions.