Category: Realtors

A Power of Attorney (POA) allows another person to make financial and legal decisions for someone else In the context of residential real estate, these documents can be very helpful in the many situations, including: a Buyer or Seller is on active military duty overseas; a Seller is on vacation or otherwise not ...

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The Standard Contract of Purchase and Sale was recently updated to add the word “non-refundable” to Paragraph 12 “12 TIME: Time will be of the essence hereof, and unless the balance of the cash payment is paid and such formal agreements to pay the balance as may be necessary is entered into on or before the Co...

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By Peter Borszcz / Contracts, Realtors /

A Contracts Must be In Writing Real Estate Contracts, as contracts for the sale of land, are unique in British Columbia law as s59 of the Law and Equity Act states that “A contract respecting land or a disposition of land is not enforceable unless there is, in a writing signed by the party to be charged or by that...

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By Peter Borszcz / Realtors /

A "dual agent" is an agent who acts for both the buyer and the seller in a single real estate transaction Often this occurs on "sign calls" where a prospective buyers drives by (or "surfs by") a home they like and calls the agent associated with the property Dual Agency places the Real Estate Agent between both clie...

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By Peter Borszcz / Realtors, Strata /

Where there is an outstanding or, contemplated special levy (as found in the minutes), Buyers and Sellers need to clearly state WHO is responsible for paying the levy Ideally, a sharp realtor has considered the issue and stuck in a clause in the contract but, in the event it is forgotten: ensure you get a copy of ...

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By Peter Borszcz / Buyers, Lease, Native Land, Realtors, Sellers /

At common law, in British Columbia, land tenures can be generally divided into two large catagories, fee simple land and leasehold landsFee simple lands (also called freehold lands) are lands where the owner owns all the property rights associated with thoses lands, except the rights which are reserved for the Crown (f...

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