To what extent do you have to answer a purchaser’s question if you are selling your home? You don’t have to answer questions at all, but practically speaking that won’t help sell your home. If you do answer a question then you must do so honestly, but you don’t have to volunteer information beyond the…
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In BC, each property’s title is registered with the BC Land Title Office which includes a list of any and all charges that are actively registered against that property. What is a “charge”? Put simply, a charge is a legal instrument registered on title that notes some form of third-party interest, rule or entitlement that…
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When Is a Statutory Building Scheme No Longer Enforceable? Unfortunately, the answer to that question is, “it depends”. A statutory building scheme is a document that is registered on title to properties within a subdivision imposing terms that limit what a homeowner can do with his or her property. Statutory building schemes can be very…
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Once you have an accepted offer to purchase a property the very next thing you should do is send that contract to your Kelowna real estate lawyer. Real estate lawyers want your contract as early as possible so we can collect information on the property and so we have time to complete a title review. The…
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With the recent legalization of cannabis in Canada, commercial real estate property and commercial leasing are in high demand for businesses seeking to operate legal cannabis dispensaries in Kelowna and throughout Canada. The Cannabis Act ensures a strict legal framework for controlling the production, distribution, sale, and possession of cannabis. In British Columbia, local, provincial and federal laws dictate…
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Effective January 1st, 2019 there will be new changes to REDMA (Real Estate and Development Marketing Act). The changes pertain to the assignment of contracts for developments like Ella, One Water, Brooklyn, and other strata condos in town. With these new changes, if a purchaser wants to assign their contract before they complete their purchase…
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In the Fall of 2018, the BC Provincial Government will introduce a new speculation tax on residential property. This tax will target foreign and domestic speculators who pay little or no income tax in BC as well as satellite families (families who pay little income tax in BC and have high worldwide income). The BC…
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When purchasing any real estate, the onus falls on purchasers to investigate the state and quality of the property they intend to buy. When considering units in apartments, condo buildings, townhouses, and even duplexes, purchasers should ensure they have a subject condition in the Contract of Purchase and Sale allowing them to review and approve…
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Buying a home, especially for the first time, can be many things – exciting, nerve wracking, the fulfillment of a life long dream. One of the big questions facing many buyers is the all important “how much can I afford?” Buyers tend to focus on the sticker price of the house and it…
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Are you considering investing in a rental property this year? Jumping into the real estate market with the intention of becoming a landlord can be an extremely profitable idea but you will need to keep these 5 factors top of mind
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