With the Home Buyer Rescission Period (HBRP) coming into effect on January 3, 2023, BCREA has created a video for REALTORS® to share with their clients to help them understand buyer’s rights during the HBRP.
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REBGV – BC government introduces “cooling off” period for home sales
On July 21, the provincial government introduced a home buyer protection period, the details of which are outlined in a new regulation that allows home buyers to back out of a residential purchase up to three business days after signing a contract.
Continue reading →Top 5: Self Checklist “Is This The Home For Me”?
So, you’ve decided you’d rather pay off a monthly mortgage than farewelling rent payments to your landlord. You’ve found out your family is expanding and you’re in need of a little extra space to move and grow. You’ve decided you’d like to invest in a little vacay property to escape to for the weekends. Whatever your reason for buying a home, there are always going to be considerations you should ask yourself to find out “is this the right home for me”?
Continue reading →BCFSA – Consumer Guide to Deposits
We are often asked about deposits. How do I pay the deposit? When is it due? How much? And who is it payable to? The BCFSA has an informative article on how deposits factor into your offer and home purchase. Read on to find out more…
Continue reading →Difference Between Deposit and Downpayment
If you’re new to the home buying process, it’s easy to get confused by some of the terms used. The purpose of this article is to clear up any confusion between the deposit and downpayment.
Continue reading →Legally Speaking | Suing for Unpaid Deposits
What happens when a buyer breaches a contract before the deposit is due and payable? Is the seller still entitled to the deposit if the transaction collapses due to the buyer’s breach? Find out the answer in this month’s issue of Legally Speaking.
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