The team at Pazder Law Corporation would like to extend a heartfelt THANK YOU to our fantastic clients. We are very glad to be of assistance. We value your business and hope to see you for your next transaction. The following are some of the reviews we have received in 2019: We’ve done 3 house transactions with Ken and all have been excellent. Ken and his team is a joy… Read More »Thank you for the positive feedback
On February 28, 2016, the BC government changed the Strata Property Act to remove the requirement for a UNANIMOUS vote of the strata members to dissolve a strata corporation. That threshold was reduced to 80% of all of the strata owners. This was done ostensibly, to allow the majority of owners to dissolve their strata when repair or upgrade costs became prohibitive due to the age of the building. Since… Read More »Listing Your Strata Complex For Sale: Do You Need 80% Approval?
That should never be the question; every strata owner should always insure. You may be thinking “Why? My strata property already has property insurance!” That is correct. The strata corporation’s insurance is mandated by statute and paid for by the owners through their monthly strata fees. Under the BC Strata Property Act (s.149 and s.150), the strata corporation is required to obtain insurance for common property, common assets, buildings as… Read More »Strata Properties: “To Insure or Not to Insure?” That is the question
As the first of its kind, the Vancouver Empty Homes Tax (“EHT”) is now into its third year. The rationale for this draconian tax by the city of Vancouver was that there were close to 25,000 empty homes in the city with a rental vacancy rate next to nil.
The BC government is announcing the creation what appears to be yet another make work project to create needless government jobs (doubtless for NDP supporters). It’s called “The Condo and Strata Assignment Integrity Register.” Even the name is odd. It implies that there is a difference between condos and stratas. However, in common parlance, a condo is a strata and vice versa. Furthermore the BC Condominium Property Act (which used… Read More »Canada’s first pre-sale register to crack down on flipping
The short answer: YES! It has long been established that even where there is no contractual relationship, a real estate agent owes a duty to exercise care when providing information to those who may be reasonably expected to rely on it. For example, an MLS Listing contains information about the property type, its age, size, number of rooms, zoning, municipal taxes and many other things. It is reasonable to assume… Read More »Do Listing Agents Owe a Duty of Care to Prospective Buyers?
As housing prices continue to rise, once again pre-sale strata units have become all the rage. In our previous blog, we alerted our readers to some of the risks that are associated with purchasing a property that has not been built, but what about the risks in assigning interests in those pre-sale condos? An assignment occurs when the purchaser transfers their rights in the purchase contract to someone else before… Read More »FLIPPING YOUR PRE-SALE CONTRACT: What You Need to Know
‘In court reports… they’d found some of the [pre-sale] units were pre-sold more than once – and as many as four times in some cases.’ How risky is buying a pre-sale condo? ‘Future homebuyers considering a pre-sale property might be surprised to find out what’s in the fine print. They’re drawn in by glitzy showrooms that allow them to choose their unit and finishes, and many sign contracts without really… Read More »Police investigating pre-sale development; condo buyers out hundreds of thousands
This summer, an important party seems to be missing from the real estate market…the Buyer. Increasing interest rates and stricter mortgage requirements seem to be having an impact as Buyers are much less active in today’s market. Sales across Greater Vancouver, Fraser Valley and Chilliwack are continuing to decline. BUT NOTE THAT SO FAR, THE PRICES CONTINUE TO RISE. Greater Vancouver In June, sales were down 14.4% from May of… Read More »Vancouver Real Estate : Where are All the Buyers? (June 2018)
Like the title to Mark Milke’s excellent book (well worth a read) suggests, Canadians –born under the colonial mantra of “peace, order and good government” roll over again and again as the federal and provincial governments in this country systematically tax them to death. The BC NDP’s latest shake down is called the “Speculation Tax.” It follows on the heels of Vancouver’s “Empty Homes Tax,” a draconian measure that penalizes… Read More »Tax Me I’m Canadian! A commentary on the latest Speculation Tax