Tag Archive: real estate

How do I find out if I need to charge GST when I sell my property in BC?

Do you know if you need to charge GST when you sell your property in BC? Selling a home in... View Article

How do I shut down my utilities when selling a home in BC?

When you sell a home in BC, you’ll need to close or transfer your utility accounts, arrange final meter readings where required, and provide proof of payment. Learn how notaries handle sale proceeds holdbacks, which utilities are public, private, or strata-billed, and what to watch for in your municipality.

How do I set up my utilities when buying a home in BC?

Call your utilities services providers as soon as possible to get your accounts set up. Never assume the seller's accounts will transfer to you automatically!

Holdbacks 101: what they are and why they’re used

A holdback is money we hold in trust until a particular thing (like cleaning the property or paying a bill) has been done. BC Notaries help clients draft great holdback clauses, and carry them through to completion.

When a Lender Won’t Fund on Closing Day in BC

Even if you’ve “done everything the lender asked,” funding is never guaranteed until money actually lands with your BC Notary or conveyancing lawyer. Lenders don't actually have to fund a mortgage, even if you have done all the things you were asked to do to qualify for it. Porting mortgages is popular, but can encounter failures when the new property looks nothing like the old one. Mortgage instructions can come too late; surprises on inspections or appraisals can kill a qualification, and lenders can freeze lines of credit you expected to be able to use. They can also decline to advance if you fail to meet last-minute qualification criteria. It doesn't happen all the time, but it's important to have a backup plan well before completion.

Why you care about “time is of the essence” in BC Real Estate

If your contract has a clause in it that says "time is of the essence", that means the deadlines you have agreed upon are fundamental and cannot be changed without potentially significant consequences?

5 Ways Powers of Attorney go Wrong in Real Estate Transactions

Powers of Attorney allow one person to sign for another in real estate transactions. But there are strict rules about vetting, verifying and registering Powers of Attorney.

8 Steps Before you Buy a Home

Buying a new home? Here are 8 things to do first!

No, you can’t just walk away from your real estate contract

Walking away from a contract scot-free isn't as easy as you'd think. You may be required to pay for costs or damages of other parties, or ordered by the court to actually go through with the contract in some cases.

Should I rent-to-own, or buy?

Buying a home is one of the biggest and most expensive investments you will make over the course of your... View Article