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

Estimated reading time: 5 minutes

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Key Takeaways

GST applies to most real estate transactions in Whistler unless the property is exempt based on the vendor’s use.
Buyers should obtain a warranty on a property’s GST status in the purchase contract, as it is determined by the vendor.
When earning over $30,000 in gross revenue from rentals, a GST number is required for tax collection.
It is essential for buyers to understand if GST is included in the purchase price or additional before closing.
Professional advice is crucial to navigate GST implications in Whistler real estate transactions.

Estimated reading time: 4 minutes

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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: 2 minutes

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Property Transfer Tax (PTT) is applied in British Columbia when purchasing real estate at closing.
PTT is charged for changes to property titles, including acquiring or gaining registered interests.
The tax rates are 1% on the first $200,000, 2% on values up to $2,000,000, and higher rates for properties above that.
For example, a $4,500,000 residential property incurs a PTT of $143,000 based on tiered rates.

Estimated reading time: 4 minutes

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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.