1. Working with a Realtor Pamphlet
***Disclosure of Representation in Trading Services Form:
Considering a real estate transaction? One of the first decisions you will need to make is whether you should work with a licensed real estate professional who will represent you. Take a moment to read this important consumer protection information from the Real Estate Council of BC. This form explains the special legal duties that real estate professionals owe to their clients. It will help you choose whether you want to be: • a CLIENT of a real estate professional, who will represent you in the transaction, or • an UNREPRESENTED PARTY with no real estate professional representing you.
***Privacy Notice and Consent Form:
To help you sell, buy or lease real estate, REALTORS®, brokerages and real estate boards need to collect, use and disclose some of your personal information. This brochure provides you with information about, and obtains your consent to, such information handling practices.
2. Disclosure of Remuneration
Prior to you making an offer, we are required to disclose to you, as a Buyer, the total commissions and any other remuneration we expect to receive as a result of your buying real estate in Vancouver.
3. Contract of Purchase and Sale
This is the most significant document you will run into during the Buying process. It’s very straight forward and we will help you understand it and fully complete it.
4. Subject Removal Form
If you have any subjects in your offer (Contract of Purchase and Sale), in order to make your offer firm and binding, you’ll have to “remove” these subjects. This is done simply by inserting the words, “To remove the following subjects” at the top of an addendum to your contract and reprinting the subjects you wish to remove below.
5. FINTRAC Form
This is a mandatory form, required for the purchase or sale of all real estate in Canada. It has been instituted in an attempt to reduce money laundering and organized crime activity related to real estate. It requires Buyers and Sellers to produce qualifying ID to their agent or mandatory. Your purchase cannot proceed without this form being submitted complete.
6. Legal: Conveyance and mortgage documents
Your legal representative will handle these documents for you and explain what is needed to complete your purchase.