Buying a house in Vancouver, BC

HOUSES for SALE!

Buyer Beware!

Hire a competent Realtor!

If you are buying a house, remember to book an Inspection and make sure you go over all building permits, if any, with your inspector. The inspector should be able to give you a good report detailing if the house has any problems present or arising in the near future. Have your Realtor look into the property to make sure all is well. Any problems known, must be declared, but sometimes there are hidden problems or the seller has had no idea of what is going on due to having the property as an investment only. There might not be a property disclosure statement. Hidden Oil Tanks for example, can cause a lot of problems for the unsuspecting Buyer.
Check for boundary lines with a Site Survey. Ask for it from the Seller.
You will be checking the Title to make sure it is clear. Look for Easements,Covenants, Rights of Ways and Liens. Make sure your Realtor and Lawyer go over all of the following. It is imperative that you understand these terms and what they specify.


Easements: An easement is the right to use another person's land for a stated purpose. It can involve a general or specific portion of the property.

Right-of-Way: A right-of-way is a type of easement that gives someone the right to travel across property owned by another person.

Covenants on title: When you're buying a home, it's important to understand the restrictive covenants and other deed restrictions that are in place for the real estate you want to buy, because they dictate how you can and cannot use the property. Check each and every one. You can easily do this at the Land Titles Office.


Builders liens: A builders lien secures a claim for payment for work done on-or materials supplied to-a construction project or for repairs or renovations made to an existing structure. When a lien is registered in the Land Title Office, it becomes a charge against the title to the land or property involved. If you have bought a house that was newly renovated, make sure the builder has paid his crew.

Always ask questions and don't worry if you're not sure about something. That's what a good Realtor will help you with.

For more information, email me at yconnor@sutton.com

All my Best,

Yvonne