Updates

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...

Re: Land Owner Transparency Report For almost a year now we have had to file a Land Owner Transparency Declaration whenever one of our clients purchased a property.  If the clients were using a company, trust or partnership as the registered owner, we have had to file a Land Owner Transparency...

Re: New Federal Holiday Sept 30th, 2021 Just a heads up as we have now learned the Land Title Office will be closed on Sept 30th, 2021.  Any deals scheduled to close that day will be pushed back to October 1st, the next business day. Please also keep this in mind for any contracts about to...

Re: Langley (and maybe Coquitlam) Office Space Good morning, just a heads up we are now nearing completion of our new office space in Langley, which will be available to mortgage brokers looking to work in an environment with other brokers. It is kind of like a Regus office, but just for...

I thought since Italy was not playing today I could send out another email. Our last few dealt with title searches, and realtor responsibilities regarding same.  Our last video deals with Terra Firma Title Review, the company that every lower mainland realtor should be a part of. The link...

Re: Video Update Today was going to be the last in our series on the importance of a title search.  We were going to send out our video that explained Terra Firma and why every realtor in the Lower Mainland should be on the service, but……. Today is ITALIAN DAY!  Yup, Italy’s...