Buying Your First Home

firsthomebannerHere are some tips for this exciting time:

Before making your offer to purchase, do some ‘due diligence’ by going to the Municipal Hall, to obtain all available information about the property, such as zoning, tax and utilities billings, special levies and copies of the plot plans. Sometimes realtors can obtain this information for you, and you should certainly ask.  A Title search of the property will tell you if there are any impediments to the use of the property, such as easements, rights of way, agricultural land reserve notations and many others. These searches can be obtained from the BC Land Title and Survey Authority for the area in which the property is located. Again, very often your realtor can provide this, but if you have questions about the items shown, it’s best to consult with a legal professional, such as your Notary Public, before signing the contract of Purchase and Sale.

If everything ‘checks out’ and you want to go ahead, then make your offer to purchase.

When making your offer to purchase, remember to include a condition to have the home inspected by a qualified Home Inspector. There are many companies available that perform this service, and your realtor may be able to provide some recommendations. Also, if there are any repairs or renovations to be done in the home prior to your possession, make sure to mention it in the contract as well as a holdback amount should the work not be completed in time. Your realtor will know how to add this to your contract for you.

A few links to some helpful information:

BC Assessment                Home Owner Grant Program            Property Transfer Tax