Blog Articles

Feb 02, 2018

Legal Advice on Mortgage Discharge and Possible Penalties

Before you List… compliments of Peter Borszcz  Real Estate Lawyer Peter Borszcz at Pihl Law Corporation Kelowna Contact Your Bank– find out how much you will owe the bank to discharge your mortgage. Some important questions for your banker include: How much do I currently owe? Is there a payout penalty, if so, how much? Are there ...

Thursday, Feb 01, 2018

Why would a Seller need a lawyer?

Discharging your Mortgage   For sellers, the essential bargain in a real estate transaction is “I give you my house, free an clear, and you give me money”… The “free and clear” part is key, it means that the Seller is giving the Buyer title free and clear of all financial encumbrances on title. A financial encumbrance includes things like your mortgag ...

Wednesday, Nov 01, 2017

Invest In Nelson

Located in South Eastern BC,incorporated in 1897, Nelson has developed into a rich, diverse community, with a sophistication not often found in a small town environment. This fact, coupled with the incredible geographical beauty of the area, makes Nelson an ideal place to live and raise a family, work, own a business, or retire if that’s where you are in life. Nelson ranked behind only Van ...

Tuesday, Oct 31, 2017

Considerations when Handing Down the Family Cottage

Considerations when Handing Down the Family Cottage   Milestones, wonderful moments, and precious memories are connected to most summer cottages. Having a recreational property is not always ideal when costs and responsibilities linked with ownership overshadow the tranquility it is meant to offer.  Transferring the property to your children may not be the treasure you may ...

Friday, Oct 27, 2017

Finding the Best Mortgage Rates

  Securing the best mortgage rate takes research more than ever partly due to recent changes in Ottawa, that include an increase in lenders costs, mortgage rates (amortizations over 25 years, refinancings, million dollar listings, single-unit rental properties and loan-to-value ratio mortgages between 65.1 and 80 percent (ratio of a loan to the value of an asset pu ...

Friday, Oct 20, 2017

Changes on the Horizon for Mortgages in 2018

January 1st, 2018 will bring changes to conventional mortgages that will involve a “stress test,” similar to the one in place for high ratio mortgages.   This means that buyers will qualify for considerably less when they obtain a conventional mortgage under the new terms.  It is best advised to instruct any clients who may be pondering the purchase of a home under a conven ...

Monday, Oct 16, 2017

New Government Program Giving Hope to Some Millennial Home seekers…

The British Columbian government is now offering a new interest-free loan program for first-time home buyers.   Millennials find themselves in a tough position when faced with the daunting task of finding an affordable home to buy, and many feel like this goal is out of reach.  Many will continue to rent or live in a parents home for longer periods of time.   In mid-January, t ...

Tuesday, Oct 10, 2017

British Columbia Housing Forecast

BC Real Estate Association Housing Forecast Update Strong Economy Supports Robust Housing Demand   There will be a decline of 10% in residential sales in BC reaching 100,900 units down from a record in 2016 of 112,200 unit sales according to Multiple Listing Service (MLS). 2018 will expect to see an edge back of approximately two per cent to 99,000 units. Over the next two years, the housi ...

Tuesday, Oct 10, 2017

Autumn Trends to Help Sell your House

  While most of us have heard that peak selling seasons and most ideal markets are during spring and fall, you can also have a quick sale at asking price in the fall. With holidays, still around the corner and the kids settled back into school, this shoulder season may just be a positive time to sell. It’s key to make your home stand out and show well to buyers using key trends that ...

Sunday, Jun 11, 2017

Non Residents moving into Canada

FAQ for Non-Resident Buyers Buying Property in Canada   Here are some commonly questions asked by non-residents hoping to buy property in Canada.   Who can buy real estate in Canada? Canada welcomes home buyers from all countries, and there are no restrictions on the amount or kind of real estate you can buy. However, some banks will restrict the number of properties they will finan ...

Jun 15, 2017

Seller your home faster

MAKING YOUR HOME APPEALING TO POTENTIAL BUYERS   Organize storage space. Every buyer is looking for and can never have enough storage. Keep your cabinets organized and tidy, for the buyers will snoop!   Maximize the light in your home. Good lighting comes right after location in terms of what buyers are looking for. Do what you have to do to make your house bright and cheery! &nbs ...

Thursday, Jun 01, 2017

Is strata right for me?

Strata Documents and Minutes Is strata right for me? This is a personal question and each strata is different. When you are buying into a strata you are buying into a community and you should carefully read through the Form B package, the rules, minutes, and bylaws to ensure that who you are matches the “personality” of the community. When in doubt don’t be afr ...

Tuesday, Apr 11, 2017

Selling a Tenanted property in BC

Selling a Tenanted Property   When a landlord plans to sell a rental property, the tenancy continues. The landlord cannot end a tenancy because they want to sell a rental unit. Showing the Property The tenant has a legal right to peace and quiet while the tenancy continues. The landlord or their agent must provide written notice to the tenant or have their permission to enter and sh ...

Sunday, Apr 09, 2017

Just bought your new home...Decorating ideas

DECORATING YOUR NEW HOME   When decorating your new home, it’s hard not to feel overwhelmed when faced with so many options and decisions. Many, staring at the insurmountable task of choosing the look of their home, retreat to familiar, bland, and expected looks and end up disappointed in a home that doesn’t reflect their personalities or suit their tastes and lives. This condit ...

Thursday, Mar 16, 2017

Imperative UPDATE.... Must Read Fines will be issued regarding the sale of your principal residence in 2016

THIS IS IMPERATIVE FOR EVERYONE THAT SOLD A PRINCIPAL RESIDENCE IN 2016. Fines will be issued New Principal Residence Reporting Requirements Beginning with the 2016 taxation year, it is mandatory to report the disposition of a taxpayer’s principal residence on the tax return. Failure to do so may result in the principal residence exemption being denied. This refers to all dispositions inc ...

Monday, Mar 06, 2017

Home Over-Improvement Can Lead to Market Under-Performance.

Home Over- Improvement Can Lead to Market Under-Performance. Because your home is indeed your “castle”, there’s nothing wrong with smartening up the “moat” every few years.  But any remodeling you undertake should not only improve your home’s aesthetic appeal, but should add to its resale value as well. Often the best improvements are relatively simp ...

Saturday, Feb 11, 2017

Seniors Downsizing their home

Change takes Courage. by Julie Wilson, local Realtor Kootenay BC, Accredited Seniors Agent and Author of Beyond The Sold Sign. A Canadian Real Estate planning guide for Seniors.   Mom and Dad, we need to have a talk.   Our parents are always there for us. When we take our first steps, our parents are there to catch us when we fall. They’re there cheering us on when we take t ...

Saturday, Feb 11, 2017

Curb Appeal Buyers First Impression

  First Impressions Real estate may be about location, location, location, but it’s also about looks. Potential buyers often decline to look at the interior of a home based on the exterior appearance. Buyers want upgrades, like windows and doors that create visual appeal. A home must present itself favourably in a quick snapshot. Upgrading curb appeal is proving to be a good investme ...

Monday, Jan 30, 2017

First Time Home Owner BC Funding Program

The B.C. HOME Partnership program will start accepting applications Jan. 16, 2017. British Columbians buying their first home can also get help through other Housing Action programs like the First Time Home Buyers’ Program and the Newly Built Homes Exemption.EligibilityThe B.C. Home Owner Mortgage and Equity (HOME) Partnership supports eligible first-time homebuyers. To qualify for the progr ...

Wednesday, Jan 25, 2017

Bank Sale, Foreclosure, Power of Sale, Short Sale What does all that mean when buying a home

  HAVE YOU HEARD THE TERM SHORT SALE. BANK FORECLOSURE, POWER OF SALE WHEN LOOKING TO BUY A PROPERTY?          All three of these terms all refer to the same thing. The property is being sold by a third party for a judgment that has been placed on the property due to the present owner falling behind, or not making the payments to that third par ...

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