Whistler Ski-in/Ski-out Real Estate For Sale

Estimated reading time: 3 minutes

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Key Takeaways

The Buyer must adhere to the Completion date; failing to do so may allow the Seller to void the contract and keep the deposit.
The Completion date is officially referred to as such in the Contract of Purchase and Sale; it is not called the closing date.
If the Buyer needs an extension on the Completion date, it requires Seller approval and often incurs significant penalties.
Market drops can affect sale prices, and the Seller may pursue legal action if the Buyer does not close the sale.
Working with an experienced Whistler realtor can help navigate the complexities of the Contract of Purchase and Sale.

Estimated reading time: 3 minutes

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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.

Estimated reading time: 5 minutes

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The Home Buyer Rescission Period allows buyers a 3-day cooling-off period after accepting a subject-free offer, but it incurs a 0.25% penalty if rescinded.
Developed by BCFSA, the HBRP targets issues from the COVID real estate frenzy when buyers faced regret after making impulsive offers.
If subject conditions exist, buyers can rescind without a penalty within the 3-day period, but it’s best practice to wait until subject conditions are removed.
No rescission applies to Phase 2 properties and quarter-share properties, treating them differently in real estate transactions.
Working with an experienced realtor is crucial to navigate the complexities of rescission and ensure informed decisions.

Estimated reading time: 2 minutes

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Non-residents buying property in Whistler cannot refinance with Canadian banks after a cash purchase due to FINTRAC regulations.
The Canadian bank does not know the source of the original funds at the time of refinancing.
FINTRAC is responsible for preventing money laundering and requires compliance from all real estate professionals in Canada.
Refinancing exists for Canadian citizens, but non-residents, even if they have Canadian citizenship, need professional advice before making offers.
For assistance in buying real estate in Whistler, contact Marion Anderson.

Estimated reading time: 4 minutes

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As of July 1, 2024, all strata corporations in B.C. must obtain a Depreciation Report, renewing it every 5 years.
The Depreciation Report helps project maintenance costs for 30 years and assists owners in future financial planning.
Buyers focus on whether the Contingency Reserve Fund can cover necessary repairs identified in the Depreciation Report.
Understanding the Depreciation Report involves checking the short-term financial model and ensuring alignment with strata bylaws.
A draft Depreciation Report is less reliable than a final version; assess the strata’s budget and current contributions for insights.