Is it easy to buy a foreclosure in Vancouver? There are many pros and cons to buying foreclosure properties. The number one pro is potentially being able to purchase a property lower than assessed or market value.  Some of the cons are competing with other buyers right up until the final court date, not being able to inspect the property and difficulty arranging pre-approval financing. All c ...

When does a Material Latent Defect need to be disclosed to a Buyer of Real Estate? In British Columbia, all material latent defects must be disclosed in writing to potential buyers prior to them making an offer on a property. A material latent defect is a latent defect that cannot be discerned through a reasonable inspection of the property.  Some examples of material latent defects are: 1) ...

What happens if the Seller does not want to provide a Property Disclosure Statement (PDS)?? I'm sure you have seen some properties advertised in an "As Is" condition or perhaps you have made an offer on a home where the Seller refuses to provide a Property Disclosure Statement.  What does this mean to a prospective Buyer and what are the ramifications?  There is a fairly high obligation on t ...

"BC home sales continue to trend higher in May," said Cameron Muir, BCREA Chief Economist.  The British Columbia Real Estate Association (BCREA) reports that total sales volume was 2% highter than in May 2012 and the average MLS residential price was up 2.7% from one year ago. "Rising consumer demand, have edged home prices higher over the past three months in BC's large lower mainland marke ...

What is Floodplain Mapping and why is it important for Homeowners? Floodplain maps are a tool that shows cities and municipalities areas that are subject to high flood hazard, and they help administrators make decisions about how and where communities grow.  There are currently 87 existing floodplain maps available on line from the Provincial  Government.  Experts recommend that these m ...

GREAT NEWS for Homeowners!!  The LiveSmart BC Program for home energy upgrades has been extended. On April 11, 2013 the BC Government in partnership with BC Hydro and Fortis BC, agreed to extend the popular LiveSmart BC: Efficiency Incentive Program for one more year.  This program offers up to $3,500 in rebates for energy saving improvements for homeowners.  These rebates are available for ...

This year’s Ships to Shore event will again be held in historic Steveston Village from June 29 to July 1.. The Tall Ships will be docked at Imperial Landing, just a few paces along the wooden boardwalk from the village centre and at the Britannia Shipyards, National Historic Site, a short walk along the picturesque Steveston boardwalk. Ships to Shore Steveston 2013 runs from 10 a.m. to 5 p.m ...

The new Family Law Act came into force on March 18, 2013 and there are several changes in the Property division of the Act. Under the new Family Law Act, unmarried couples (common law) for at least 2 years are considered to be spouses and are treated the same as married couples for the purpose of property division. What is Family Property? Family property is all property that either ...

If you are thinking of installing a secondary suite in your home, each municipality and city has their own rules and regulations regarding secondary suites. You will find the link below very useful as a guideline for your city. It is important to double check with each area to see if any of these rules have changed before you commit to renovating or installing your secondary suite.Secondary s ...

ARE THESE 5 MISTAKES PREVENTING YOU FROM GETTING YOUR DREAM HOME?   1) The Wrong Financing - The right mortgage product is the most important tool you will need. Comparison shopping is the key. 2) Skipped a Home Inspection - Don't leave your very important home inspection to anyone else.Every property should be inspected, new or old. 3) Didn't do your Research - Double check the property ...