The BC Government introduced the Short-Term Rental Accommodations Act, prompting questions among REALTORS® and homeowners, today we explore the most common ones.
Posts tagged with “Disclosure”
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BC’s new Home Buyer Rescission Period (HBRP) for residential real estate property takes effect on January 3, 2023 and while it is not a new concept, REALTORS® need to be aware of the effects of the new regulation
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Heritage concerns may affect the value of the property, its redevelopment potential, or even the ability of a new owner to make any renovations, repairs, or additions to the existing structures…
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Will Rogers defined the first law of holes as follows: “When you find yourself in a hole; stop digging…
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Implied agency is very much on the brain these days with the Superintendent of Real Estates new rules on agency now in effect…
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If someone dies at a property, is the death a material latent defect that must be disclosed in writing to all other parties before entering…
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A warranty is a minor term in a contract and does not go to the root of the agreement between parties…
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There have been a number of recent articles on a seller’s obligation to make full and complete disclosure of all issues respecting property offered for sale…
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For properties built before 1957, the presence of an underground oil storage tank (UST) poses significant environmental and financial risk to buyers and sellers…
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It’s trite law that a seller and a listing REALTOR® have a duty to disclose known material latent defects, but not patent defects…
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In the early 1990s, the profession introduced the Property Disclosure Statement, or PDS (formerly, the Property Condition Disclosure Statement)…
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A strata corporation incorporated in 1987 had 36 apartment-style units and eight townhome-style units…
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A couple who agreed to purchase a yet-to-be-constructed condominium from a developer repudiated the agreement after it was built because their complaints could not be resolved…
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An Ontario buyer’s agent, who submitted an offer to the seller’s agent, discovered the importance of carefully examining the seller’s counter-offer for amendments the hard way, at a personal cost of $50,000…
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Possession under the Contract of Purchase and Sale works well when possession is the day after completion, but not as well when both are on the same date…
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Generally, when we consider a licensee’s duty to disclose material facts concerning the property in question, we think of material facts relating to the physical condition of the property…
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The extent to which the CREA Code of Ethics and Standards of Business Practice are factors in a judge’s decision involving the liability of licensees is illustrated by the following case…
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A whole new growth industry is developing of scientists, engineers, law professors, lawyers, columnists, experts and others, around the pollution of the environment and the liability for doing so…
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What do gas stations with underground tanks, sawmills, pulp mills, paint manufacturing shops, dry-cleaners, shipyards, truck parking yards for moving or fuel companies, junkyards, farms and…
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It is the selling licensee who discovers what a prospective purchaser can or cannot afford, or what specific quality or use of the property is of particular interest to the purchaser…
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More than you ever wanted to know about this subject, but were afraid to ask…
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By the time this is published, we hope that Bill 66, The Real Estate Amendment Act (No. 2) 1985,* has been proclaimed…
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We import more than fruit, vegetables, movies and the Beach Boys from California; now we may be importing their law…
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Section 28 of the Real Estate Act was amended in 1981 to widen the requirements for disclosure to be made by a licensee prior to the purchase of real estate by the licensee or his associates…
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Column 41 discussed a matter raised by the Vancouver Island Real Estate Board concerning the potential uninsurability of a home whose owner failed to disclose to his insurer that a woodstove was a source of heat…
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The selling agent brought an offer to the listing agent for $85,000.00 on September 26, 1977, which was accepted by the vendors, subject to their obtaining a release of a prior offer by September 29th…