Updates

Good afternoon everyone, hope you are staying warm! The federal ban on foreign buyers starts on Jan. 1, 2023, and the regulations were finally published yesterday. We have spent a few hours on them but still have more questions than answers such as: What cities/areas does the ban apply –...

Good morning everyone, a few updates for you: Federal ban on foreign buyers – many articles suggest resort areas such as Whistler will be exempt, but the regulations are not yet out. As soon as they are, I will try to update you all. Residential property flipping rule - The proposed...

September 2022 You likely have heard of David Eby's proposed changes for real estate in British Columbia.  Not sure why he could not have done this as housing minister but politics is politics I guess. What you may not have heard is that there is upcoming ban on foreign buyers purchasing...

A couple of recent articles in the Vancouver Sun caught my attention. The first article, published on May 27, can be found at More than $1m to remove racist language in West Van covenants: Report | Vancouver Sun  - ...

This is a follow up to our last email regarding a development in Maple Ridge that has a price escalation clause.  A number of you had follow up questions and I do not have time to return each question.  Below is a summary of the questions along with my answers.     Is this...

Re: Price Adjustment Clause in Pre-Sale Contract For all those involved in helping clients purchase new strata units, we have recently seen a price adjustment clause in the pre-sale contract. Without getting into all of the details, if the Building Constructing Pricing Index rises by more than...

Re: 2022 Federal Budget and Real Estate   The federal budget promises $10 billion to make housing more affordable.  Measures include tax credits for a variety of items, but the big ones, at least to me are: 2-year ban on foreign buyers; Sales taxes on assignment sales; No...

Re:  Restrictive Covenants Good morning everyone, Just another note about the importance of title searches and the charges noted against title. We have learned that the 4th most expensive claim against the realtors E. and O. insurance was for the misinterpretation of a restrictive...

I have noticed a post or two on social media regarding old covenants registered on title prohibiting anyone from certain ethnic backgrounds from owning property.  These were obviously registered several decades ago and are not enforceable. One of the questions on social asks why they are still...

Hi all, with the holiday season upon us we thought you should know of our upcoming hours. We will be closed from Dec. 24 – 28 inclusive, and open with limited staff Dec. 29, 30 and 31. We are also closed Jan. 3, with regular hours starting Jan. 4, 2022. If you have any files to close this...