Month: November 2019

Residential Tenancies: Purchasing Tenanted Property

If you are purchasing property that is occupied by a tenant, a tenant’s right to occupy the property can survive the change in ownership. If the purchaser or a close family member of the purchaser intends to occupy the property, they must ask the current owner to provide two months’ notice to the tenant. This […]

Down Payments vs. Closing Costs in a Real Estate Transaction

Down-payments are often confused with closings costs. Here are the differences between the two.  Down Payment A down payment is an amount lenders require you to come up with yourself. This amount will be applied towards the purchase price together with the mortgage funds received from your lender. The amount is usually calculated as a […]

Supreme Court Declares BC Government’s Limits on Expert Reports Unconstitutional

People injured in car accidents must generally get an opinion from one or more “experts” in order to prove their claims. These opinions most often come from doctors although they can also come from other professionals such as occupational therapists and economists. These opinions must be written down in the form of an expert report. […]

Steps in a Real Estate Transaction

Initial Offer Upon viewing a property and wanting to buy it, a potential buyer will make an offer. The seller may reject or accept the offer, or they may make a counter offer and negotiations will follow. The document containing the offer is called a Contract of Purchase and Sale, and will be amended based […]