First Time Home Buyers Advice for Vancouver

How Vancouver Realtors Split Commissions

Are Real Estate Commissions Split in Vancouver? Yes! When a Realtor is hired by a Seller to list a property for sale, the Listing Contract states that the Seller will pay this Realtor (Sellers Agent/Listing Agent) a commission should the property sell during the period in which the Listing Contract is in force. Now, if a prospective seller was to calculate what they would have to pay in terms of commission (Want to know how much quick? Check out this Realtor Commission Calculator!), some might think it a lot of money to go to one person, but that's not really what's… Find out more

What is a Home Inspection in the Vancouver Real Estate Market?

Real Estate Home Inspections in the Vancouver Explained! There is a lot of confusion surrounding a home inspections in Vancouver particularly among first time home buyers. Common questions include: What is a Home Inspection? Whats included? Are home inspection for the benefit of the buyer? For the seller? For the bank/lender? Will the seller be able to see the inspection? etc. To answer these common questions, Dave Brighton from Brighton Home Inspections has been kind enough to meet with us to answer these questions for us. What is a Home Inspection in Vancouver? A home inspection is when a qualified… Find out more

What is an Appraisal? Vancouver Real Estate Terms

Real Estate Appraisals - A Vancouver Real Estate Definition A real estate appraisal is a concept that is commonly misunderstood Buyers in the Vancouver Real Estate Market. With this in mind, I brought in a mortgage expert, Chad Watts of the Mortgage Group to talk to us about Real Estate Appraisals. What is a Real Estate Appraisal in Vancouver? An Appraisal is a calculation of the subject property's (ie the property that a borrower wants to get a mortgage on) value by the Bank or Lender for the Bank or Lenders benefit. (NOT for the Buyers Benefit!) The Bank or… Find out more

Vancouver First Time Home Buyers Guide 14 – Offer Explanation – Subject to Financing

Top Vancouver Realtor Advice for First Time Home Buyers - Subject to Financing In Episode 13 of the First Time Home Buyers Guide for Vancouver, we discussed Subject Clauses in general. Today we're going to discuss the Subject to Financing Clause in detail and how it relates to and affects a real estate offer. Chad Watts of the Mortgage Group was kind enough to come and talk to us about subject to financing. What does Subject to Financing Mean? Subject to financing basically means that a Buyer, for up to 7 days after an offer is accepted, can walk away… Find out more

Vancouver First Time Buyer 13 – Contract of Purchase and Sale – Subject Clauses

Buying Your First Home Safely in Vancouver with Subject Clauses in the Contract of Purchase and Sale! In Episode 12, we discussed the expiry time and date on the Contract and Purchase and Sale. Today we talk safety. When it comes to buying a first home, Safety Comes First! Subject Clauses in a Real Estate offer coupled with detailed due diligence is the best ways to ensure that a first home isn't a hassle, money pit, leaky condo, or worse. What is a Subject Clause in a Real Estate Offer? A Subject Clause in a Real Estate Contract is sometimes… Find out more

First Time Buyer Guide Vancouver 12 – Contract of Purchase & Sale – Offer Expiration

First Time Home Buyers Tips 12 Offer Expiry by Mike Stewart Realtor from Mike Stewart on Vimeo. Contract of Purchase and Sale Explanation - Expiration of the Offer (Section 23) In Episode 11 of the First Time Home Buyer Guide Vancouver, we discussed Included & Excluded Items. Today, we're going to discuss the expiration time and date of the BC Contract of Purchase and Sale. A BC Real Estate Offer Expires? Yes! A Real Estate Offer in almost all situations has a date and time of expiration that is noted in Section 23 of the Contract of Purchase & Sale… Find out more