Referentail Offers

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When is an Offer not an Offer?

The following explanation is courtesy of my broker, Sutton Group-West Coast Realty:

“In an environment of multiple offers, a listing agent might be presented with an offer containing what is generally referred to as a ‘‘referential purchase price clause’’ (RPPC). The RPPC is a means by which a buyer endeavors to establish a purchase price by reference to prices contained in competing offers. The thrust of the RPPC is for a buyer to piggyback on the next highest bona fide offer which is acceptable to the seller. Such a clause might read as follows:

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Unauthorized Accommodation

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Unauthorized Accommodation Rental Suite

The topic of buying a Whistler property with unauthorized accommodation is expansive. Unauthorized means that the space was not identified in the original plans which were submitted to the municipality to obtain a permit.

This post is going to focus on unauthorized accommodation in the form of a rental suite. A rental suite within a residential property (house) is common in Whistler. The definition of such a suite might be: “A suite is a separate living area contained within a dwelling unit functioning as a self-contained suite, typically complete with its own kitchen, bathroom, and bedroom.” They are colloquially known as an in-law suite, mortgage helper, nanny suite, non-conforming suite, and other similar descriptive names.

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GST Buyer Information

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Is G.S.T. payable on Whistler Real Estate?

Another topic which generates a lot of buyer FAQ Whistler real estate questions is the one on the Goods and Services Tax (GST). Please note, this is a huge topic, and one which cannot and should not be explained fully on any realtor’s website. Realtor’s have a basic knowledge, but they are duty-bound to recommend you take professional advice from an accountant or lawyer. Realtors are not GST experts. In the meantime, the following information has been taken from local lawyers, Race and Company’s website.

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Phase 1, Phase 2 and TA Zoning

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What is Phase 1 and Phase 2 Zoning?

One of the most buyer FAQ Whistler ski-in ski-out real estate questions I am asked is on the clarification of zoning. This question is typically asked by those who are considering the purchase of a revenue generating property.

What is Phase 1 zoning?

The Phase 1 covenant is in place to maximize occupancy of properties for use by owners and visitors. In other words, Phase 1 zoning allows for nightly rental revenue generation. In addition the owner is allowed to use the property for themselves. Please note, it is not as simple as that statement might suggest, as there is a GST implication which should be considered. Some, but not all Phase 1 properties have a covenant that require the condo or townhouse to automatically be in a rental pool when not in use by the owners.

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