information for buyers
My motto is to provide Service Excellence for all your real estate needs. Throughout the entire process, I am committed to earning your trust and confidence and to exceed your expectations by providing the following services:
- Recommendations to respected sources of financing.
- Information about available properties.
- Providing accurate answers to questions regarding properties.
- Explaining the forms used in the real estate transaction
- Negotiating a fair market price.
- Familiarize you with the steps to Completion of the Sale.
Once you have selected a property, the next step is to make an offer. At this point I will draft up a Contract of Purchase and Sale to present to the Sellers.
Some of the items for consideration in the Contract are:
- Professional inspections
- Deposit amounts and terms
- Subject Clauses to include
- Transfer and possession dates
- Other legal considerations
Once a transaction has been successfully negotiated on your behalf, I will continue to offer assistance to ensure that you are able to complete your obligations in a timely fashion to fulfill the contract.
You must be prepared to pay for any closing costs which may apply to your transactions. Some of the following fees may be required only if a lending institution is involved.
The Responsibilities of a Buyer
- Property Purchase Tax (1% on the first $200,000 and 2% on the balance)
- H.S.T. (usually applies to new homes and properties purchased from the developer)
- Property Tax
- Survey Fees
- Legal Fees
- Mortgage Application Fees
- Fire and Liability Insurance
- Appraisal Fee, Mortgage Default and Life and Disability Insurance
is to carefully read all documents and understand what you are signing. When special advice is needed, you are advised to seek out experts or professionals such as lawyers, notaries, accountants, home inspectors, contractors, engineers, and surveyors.
Hornby Island is Unique.
The Island’s Trust establishes the zoning
of property on the island. The zoning establishes issues such as, the type and use of buildings. With few exceptions, only a single dwelling is permitted on each lot or parcel of land.
Building Permits are not required. However, under Section 28 or the Island’s Trust Act, Siting and Use Permits are required
. These permits verify that any proposed construction, siting, and use, complies with the requirements of the land use bylaws and must be obtained prior to construction. It is recommended that buyers refer to local land use bylaws at www.islandstrust.bc.ca
before making decisions about such things as water supply and sewage disposal plans.
on Hornby is mainly supplied through a) surface water
(lakes, ponds, or streams), b) ground water
(accessed by wells or drilled holes), or c) cisterns
that collect rain from roofs or store water from a low producing well.
Some properties on Hornby are not serviced by Septic Systems
. The use of out- houses and composting toilets are permissible. The installation of a sewage disposal system usually includes a septic tank, a distribution box, and an approved method of ground disposal. The process to install such a system is as follows:
The sewerage system regulation that came into force May 31, 2005 changed the old permit process into a filing process; the health authorities no longer approve the construction and maintenance of on-site septic systems. With the new filing process, the owner retains the services of an authorized person who will assess your needs and design, install, and maintain the septic system; while these three functions are separate, they may be done by a single authorized person if he/she is so qualified.
An authorized person may be a registered on-site wastewater practitioner (ROWP) with the Applied Science Technologists and Technicians of BC (ASTTBC) or a Professional Engineer (PEng) and registered with the Association of Professional Engineers and Geoscientists of BC (APEGBC).
As for the filing process, the authorized person (planner) assesses the site, determines your needs, and designs an appropriate system being in general conformance with the standard practice manual. The authorized person then submits the design to the health authority for filing. Once an authorized person (installer) installs the system as designed, the planner then submits a letter certifying that the construction is in accordance with the filed design as well as an as-built drawing of the installation and a maintenance plan/manual for the system. The owner should get a copy of all the documents that are given to the health authority for filing, especially the as-built drawing and the maintenance plan/manual for future reference. For more information click here