New Federal Legislation Prohibiting the Purchase of Residential Property by Non-Canadians
Posted on Feb 06, 2023
Starting January 1, 2023, the Prohibition on the Purchase of Residential Property by Non-Canadians Act came into force. The Act prohibits any individuals who are not Canadian Citizens or permanent residents of Canada from purchasing residential property for two years.
Here are some key points:- Prohibits non-Canadians from indirectly/directly purchas...
Home Buyer Rescission Plan
Posted on Jan 13, 2023
If you're thinking about buying a home in British Columbia, there's a new policy that you should know about. The government has introduced a Home Buyer Rescission Period (HBRP), also known as the "cooling-off period," to give buyers like you some extra time to think about whether a purchase is the right decision for you.
The HBRP gives you the righ...
Consider Nanaimo
Posted on Dec 23, 2022
Are you considering moving to the West Coast? Are you thinking about Vancouver Island? Why not look at Nanaimo!
Nanaimo is a city located on the east coast of Vancouver Island in British Columbia, Canada. With a population of over 90,000, it is the second largest city on the island. Nanaimo is known for its beautiful natural surroundings, with easy...
BC makes changes to the Strata Property Act
Posted on Dec 13, 2022
The BC Government’s new legislation to handle the housing crisis has created notable new rules for strata properties. One of biggest changes is a prohibition on strata rules that involve rental restrictions. This means all rental restriction bylaws are removed except for bylaws that restrict short-term rentals such as Airbnb or VRBO. This is proj...Home Buyer Rescission Period
Posted on Nov 15, 2022
What is the Home Buyer Rescission Period in BC?
In July 2022 the BC Government released legislation stating that as of January 1st, 2023 buyers will now be able to rescind a Contract of Purchase and Sale within three days of the acceptance date (this is over and above collapsing a contract due to a subject condition issue - think financing or failin...
The Costs of Selling Your Home
Posted on Oct 07, 2022
Closing Costs
Closing costs are expenses that you may have to pay when you sell your...