Phase 1, Phase 2 and TA Zoning

Home » Page 6

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 the 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, that it is not as simple as that statement might suggest, as there is a GST implication that should be considered. Some, but not all Phase 1 properties have a covenant that requires the condo or townhouse to automatically be in a rental pool when not in use by the owners.

Continue reading “Phase 1, Phase 2 and TA Zoning”

Property Transfer Tax (PTT)

Home » Page 6

What is Property Transfer Tax?

Property Transfer Tax (PTT) is the Government of British Columbia’s tax on the purchase of real estate. The tax is charged at the time of closing and the transfer of title from the seller to the buyer. Financial institutions will not include PTT as part of your mortgage.

You are charged property transfer tax when you make changes to a property’s title, including but not limited to:

  1. acquiring a registered interest in the property
  2. gaining an additional registered interest in the property
  3. becoming the registered holder of a lease, life estate, or right to purchase for the property

The property transfer tax rate is:

Continue reading “Property Transfer Tax (PTT)”


Home » Page 6

Disclosure of Representation in Trading Services

This post is about Representation and the benefit of signing the Disclosure of Representation in Trading Services (DORTS) form. In summary, by signing the DORTS form, you are binding the real estate agent to honor four legal obligations:

  1. Loyalty
  2. Avoid conflicts of interest
  3. Fully disclose any relevant information
  4. Protect your confidentiality (indefinitely)

A 5th element was added to this form on January 1, 2023. It was an explanation of the Home Buyer Rescission Period.

Continue reading “Representation”