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Salt Spring Island Real Estate

MLS homes for sale by Scott Simmons

Salt Spring rental homes by the numbers

July 18, 2018 By Scott Simmons 2 Comments

I get many people asking me about buying a rental home on Salt Spring and usually spend a lot of time answering all their questions.  So in this post, I hope to cover some of the factual information.

Here are the typical questions and basic answers;

  1. What is the rental market like on Salt Spring?  As most know, but some do not, the vacancy rate on Salt Spring has been zero for about the last two or three years.
  2. What is the average rent? Kind of like how long is a ball of string, but let’s just say if one could find an average Salt Spring rental home the average rent would probably be $1500 per month.
  3. What are the tenants like? Some are fantastic and some are not.
  4. How much would an average rental house cost?  Averages are almost impossible to figure out on Salt Spring.  Home prices range from the low end at about 350k to sky is the limit.
  5. What kind of returns can one expect to get?  It all depends on what one pays, maintenance cost,  rent charged, etc…  Let’s look at some hard numbers here and see if we can come up with some expected returns.

Let’s just say one could find a moderately nice Salt Spring home for approx 500k that you would like to buy and rent as an investment.

  • One of the first things you’re going to have to do for tax purposes is figuring out how much of the price is the land and how much is the house costing you.  The nice thing is the tax report shows this and usually puts a high value on the land which is not great for the depreciation of the home which can be depreciated at 4% per year.
  • The next thing you’re going to have to do is get the home ready for rental.  If it needs work you’re going to have to capitalize this cost you can not expense it. See CRA bulletin here IT-128R   and please do get independent accounting advice.  This post is just general information, not advice.

The home is ready for rent and you have found the perfect tenants and signed a lease all as per the BC tenancy law.

What about the numbers?

We know the rent will be $1500 per month or $18,000 per year.

What about the cost;

  • taxes based on the cost of 500k one would expect to pay $2500 per year
  • fire insurance again based on the cost of the home one would probably pay $2000 per year
  • maintenance, assuming we have fixed all the main problems one could expect to pay about $300 per month or so or $3600 per year

Net profit? from the above number, we could assume to make $9,900 per year based on a 500k investment. Almost a 2% return on funds. But did you have the 500k?  Probably not and the idea of buying a rental property is you can buy a leveraged investment.  So assuming the bank is going to want 35% down you would have to have the 175k and borrow the 325k.

What is the approx cost of borrowing the 325k? at 3% over 25 years your payments would be $1850 per month or 22,200 per year.

So your total cost per year is approx 32,100 and your rental income is 18,000 per year so your profit or in this case the cost of ownership is $14,100 per year.

So how are you making money being a landlord on Salt Spring?  Over time you’re making some money because the renters will pay part of your mortgage per year and in 25 years you will own the home outright and if luck is on your side the market might go up and the home might be worth more.

In today’s dollars if you own the property for 25 years and it’s paid for your initial investment of 175k is now worth 500k buy you had to subsidize this investment per year at a cost of $14,100 or $352,500.    So you now have an asset worth in today’s dollars 500k that has cost you down payment of $175,000 plus the subsidy of $352,500 plus the property transfer tax of $8000 =  $535,500

What is the risk?

The risk is that property prices do not continue to go up, maintenance cost go up, financing cost goes up, and or tenant problems or the home sits vacant and there is a shortage of tenants like there was from 2009 to until about 2014.

What is the upside?

Property prices go up and you can sell at a higher price you make what is known as capital appreciation.  Please note this home will not be deemed your principal residence and any profit from the sale will be subject to capital gains tax.  Please note any depreciation claimed against the home will be recaptured by CRA.

I hope this helps you make your own decision about buying a Salt Spring investment home, again this is not legal advice only general information, please do talk to your accountant and or other professionals before buying a rental home.

Cheers Scott Simmons

Filed Under: Buy house on Salt Spring

Ban on Dual Agency BC

June 16, 2018 By Scott Simmons 2 Comments

On June 15th, 2018 the ban on dual agency just came into effect in BC.

Here is a post I wrote about how the new rules will change the way I do business on Salt Spring New Rules for BC Real Estate

As a continuation of the New Rules post, what happens if we are driving around on Salt Spring and you want to see one of my listings? What about the ban on Dual Agency?  Disclosure-of-Risks-Associated-with-Dual-Agency

Can I show you one of my listings? Yes but only give you information that is in the public domain and not information about the sellers.

What happens if you want to write an offer on my listing.  I would refer you to another agent who could write up the offer for you after you have signed a Disclosure-of-Representation-in-Trading-Services  agreement and she would be your Realtor®.

I hope this help, please let me know in the comments below.

Cheers Scott Simmons

 

 

Filed Under: Buy house on Salt Spring, Critical Salt Spring Buying Info

New Rules for BC Real Estate

June 16, 2018 By Scott Simmons Leave a Comment

On the 15th of June 2018, the new rules governing BC real estate have come into effect.

If you come to Salt Spring to look at homes and or land Scott will go over the form below and ask you if you would like agency representation and ask you to sign this Disclosure-of-Representation-in-Trading-Services as a represented part and then we can proceed to find your dream home.

The other new thing that happened on the 19th of June was British Columbia Realt Estate Association (BCREA) make a new mandatory Privacy Notice and Consent form that explains why Realtors collect private information like your name and address.  Here is the form; PrivacyNoticeandConsent  this must be filled out by all buying and or selling real estate in BC.

 

Cheers Scott Simmons

 

Filed Under: Buy house on Salt Spring, Critical Salt Spring Buying Info

Salt Spring Island Trust Land Use Zoning bylaw 355

February 17, 2018 By Scott Simmons Leave a Comment

On Salt Spring Island the Island Trust is responsible for our local zoning.  You can find our zoning info here at the Salt Spring Island Trust LUB 355. The bylaw has maps that cover every part of the island.  Believe it or not every few months or so I get an email from someone saying they want to go somewhere where this is no zoning and go off grid.  I usually let them know they are about 40 years late.  The zoning bylaw covers all and is just being upgraded with the new industrial zoning(2018).  As with the case below states, one has to check the zoning before they leap.  Don’t just go on someone else’s word do check for yourself and know what you’re getting into and what will be legal at the place you want to buy on Salt Spring.  Cheers Scott

Below is provided by BCREA and is interesting to read.

WHO SHOULD VERIFY ZONING?

Oana HyattIn the recent case Laidar Holdings Ltd. v. Lindt & Sprungli (Canada) Inc., 2018 BCSC 66, the real estate brokerage advising the tenant was found 70 per cent liable for failing to verify the zoning. The tenant had walked away from a lease for commercial premises after the City of Vancouver refused to issue permits for the tenant’s proposed use on the basis it did not comply with the applicable zoning. The landlord sued the tenant to recover its losses. The tenant countersued alleging the lease was void, and also blamed the two real estate brokerages (one in Toronto and one in Vancouver) that had assisted it in the lease negotiations.

The landlord’s agent and lawyer and the tenant’s lawyer and contractor all gave evidence at trial, although they were not sued. The tenant’s requirements for the commercial premises were unusual. The tenant required approximately 3,000 sq.ft. of space in an industrial area, of which 1,000 sq.ft. would be for a seasonal chocolate discount retail outlet, and the remaining space for warehousing additional chocolate stock for distribution to other retailers.

The Toronto real estate brokerage had assisted the tenant in locating similar premises in other cities, and was aware of the zoning difficulties in finding suitable premises in those cities. The tenant’s Vancouver real estate agent located the subject property on Terminal Avenue. It was zoned I-2 permitting “light industrial uses including but not limited to warehousing, storage, distribution, and wholesale” as well as “automobile retailing (conditional) and servicing.” Retail was only allowed as ancillary use, which an expert testified meant up to one-third of the gross floor space.

The tenant’s Toronto real estate brokerage prepared the Offer to Lease, assuming and without confirming that the Vancouver agent had confirmed the zoning was appropriate for the tenant’s intended use. The Vancouver agent had not confirmed the zoning was appropriate, and assumed that a condition would be included in the Offer to Lease allowing the tenant more time to investigate zoning. This was not done. The tenant’s lawyer assumed the real estate brokerages had dealt with the zoning issue.

Upon attempting to obtain permits to renovate the premises, the tenant’s contractor was advised the city would not approve retail use for half the space. The tenant chose to walk away from the lease, without making any investigations into what the city would allow, and without attempting to sublet the space or otherwise limit its damages.

The court held that, as between the landlord and the tenant, it was the tenant who bore the risk with respect to zoning for its intended use. Therefore, the tenant was liable for breaching the lease, and was ordered to compensate the landlord. In respect of the tenant’s claim against the real estate brokerages, the court held that the Vancouver brokerage was not liable, as he had a very limited role that did not include drafting or negotiating the offer to lease. The Toronto brokerage was 70 per cent liable because it had drafted the Offer to Lease, had assumed without confirming that someone else had verified the zoning was acceptable, and had not made appropriate inquiries as to the zoning nor included any subject conditions to allow the tenant to further investigate zoning. The tenant was 30 per cent liable for its own losses, including being held responsible for the failures of its solicitor and contractor to properly advise it as to zoning.

A REALTOR® acting in a transaction where zoning may be an issue shouldn’t simply assume that their client’s lawyer or contractor will deal with zoning. It’s always good practice to confirm instructions in writing, to document any advice given respecting zoning, and to consider including a subject condition in favour of the tenant or buyer, allowing them time to investigate zoning issues.

Oana Hyatt
B.Sc.(Pharm), LL.B.

“Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information or the currency of legal information.

Filed Under: Buy house on Salt Spring, Salt Spring construction Tagged With: land use bylaw salt spring, salt spring island trust

Is an offer an sale?

January 26, 2018 By Scott Simmons Leave a Comment

This last month I had an accepted offer on a home and had a backup offer come in.  The backup offer was a very weak offer because the condition precedent (subject to clause) was so subjective.  It was subject to the buyer viewing and liking the lot.  Normally no one would take an offer like this seriously but it was a backup and had just a 3 day subject time so it was accepted.  The conditions precedent (subject to clauses) cannot be subjective they have to be distinct.

This just came out from the BCREA and covers the finer points of a subjective subject to clauses and options.

This would have worked for me a few years back when a buyer bought a place in 4 days and would not deposit and would not read the strata docs.  We had no consideration and no contract only an offer.  It went through but he could have backed out.  It was an odd deal one that I would have rather like to not be party to but odd things do happen.

Read on from the BCREA Cheers Scott.

OFFER VS. OPTION VS. CONTRACT OF PURCHASE AND SALE

Mike ManganSome conditions precedent are so imprecise or subjective that they prevent the formation of a contract. Pending the weak subject’s removal, we have only, in law, an offer. Removing the subject in question amounts to accepting the offer. Until the buyer delivers written notice removing the offending subject by the subject removal deadline, there is no contract. A famous example is,1

. . . [s]ubject to the approval of the president of the corporate purchaser.

Since fulfillment of this condition precedent depends on how someone feels, it is subjective. In a dispute over a subjective subject clause, one side typically obtains legal advice to leverage the arrangement’s status as an offer to their advantage. A seller might cancel the deal before the buyer removes the problematic subject clause, thereby revoking the offer.2 Or, a buyer might do nothing to fulfill the feeble subject, letting the offer, in law, lapse.

Suppose that, as the result of a subjective subject clause, all we have, in law, is an offer. What if the seller, for consideration or under seal, promises not to revoke that offer? Now, we have an option:3

Where consideration is provided for leaving the offer open, the transaction is known as an option. In essence, it consists of two contracts, one the agreement regarding the offer, the second the contract arising if that offer is accepted.

With this in mind, in 2003 BCREA added to the Contract of Purchase and Sale what is now section 22.4 Section 22 essentially provides that if, pending removal of a subjective subject clause, there is only an offer, the seller promises under seal not to revoke that offer before the subject removal deadline.

In Gordon Nelson Inc. v. Cameron, a standard form contract was subject to the buyer, in its sole discretion, finding suitable financing.5 The buyer paid a $1 million deposit. In addition to the pre-printed section 22, the parties added this comparable term:

Upon acceptance of this offer, the Buyer hereby agrees that the sum of Ten Dollars ($10.00) of the initial deposit shall be non-refundable to the Buyer and the Seller acknowledges receipt of such sum as consideration for the Seller . . . allowing the Buyer the benefit of the Buyer’s subjects and conditions and agreeing that the Seller’s acceptance of this offer is irrevocable.

The buyer did not remove its financing subject because it couldn’t find suitable financing. The sellers refused to return the deposit, claiming that the buyer breached the contract by failing to use sufficient effort to remove their financing subject.6 The buyer sued to recover its deposit.

The court found that the subjective subject clause, coupled with the term comparable to our section 22, created an option, not a contract. There was not yet any contractual obligation to use specific efforts to obtain financing. As long as the buyer acted honestly, it could choose not to exercise its option. The court ordered the $1 million deposit and accrued interest, returned to the buyer, minus the $10 payment to the sellers.

Unless the parties want an option, a REALTOR® should avoid a subjective subject clause. Instead, when apt, use one of the more objective subject clauses recommended by the Real Estate Council of British Columbia in the Professional Standards Manual.7 Council’s wording is far more likely to produce an enforceable contract.

Mike Mangan
B.A., LL.B.

1. Wiebe v. Bobsein, (1985) 20 D.L.R. (4th) 475 at para. 15 (BCCA).
2. For more information, see Real Estate Council of British Columbia, “Subject to” Clauses — General Information” Professional Standards Manual, 7th edition, online athttps://www.recbc.ca/psm/how-the-law-works.
3. CCH Canadian Limited, British Columbia Real Estate Law Guide, looseleaf, Vol. 1, (North York, CCH Canadian Limited, 2000) at paragraph 3055.
4. In the Contract of Purchase and Sale — Commercial Real Estate, see section 40.
5. Gordon Nelson Inc. v. Cameron, 2017 BCSC 1269.
6. For information when a party is justified in refusing to remove a subject clause, see Legally Speaking No. 497 in October 2017.
7. Professional Standards Manual.

“Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information or the currency of legal information.

Filed Under: Buy house on Salt Spring

Buyer Beware Landmark court Ruling

April 12, 2017 By Scott Simmons Leave a Comment

The headlines were in the media about a month ago and this is something that keeps me up at night.  Especially this CRA to recover from the buyers the capital gains tax.  The other thing to note is this is just part of the trend of the federal government to bring in more taxes.  They are also going to be going after those that seem to claim various principal residences.  Here is the article from the Vancouver Sun Buyer beware_ Landmark court ruling will shake real-estate industry _ Vancouver Sun .   Here is the legal update from the BCREA

LICENSEES LIABLE FOR NOT DETERMINING SELLER’S NON-RESIDENT STATUS?

Oana HyattOn March 25, 2017, several local newspapers ran a story with the alarming headline, “House buyer beware: Landmark court ruling will shake real-estate industry.”1 The story referred to a February 10, 2017 BC Supreme Court judgment2 and left licensees wondering about this decision’s impact on their duties to ascertain the Canada residency status of sellers for the purposes of the Income Tax Act. Despite the heightened tone of the story, the court’s decision does not establish any new duties for licensees in this respect.

There is significant risk to buyers dealing with non-resident sellers due to the Income Tax Act.3 In some circumstances, the Act allows the Canada Revenue Agency (CRA) to recover from the buyers the capital gains tax, which the non-resident sellers in this case should have paid, in the amount of $695,000. Where a buyer makes “reasonable inquiry” and has no reason to believe the seller is non-resident in Canada, the buyer might escape liability under the Act.

The issues in this case were: 1) whether the notary acting for the buyers had made “reasonable inquiry” as to the residence status of the seller, and 2) whether the notary had advised the buyers of their potential tax liability if the seller was not resident in Canada. Note that the case did not address the role or duties of the buyers’ agent in this situation. The evidence was that the buyers’ notary had inquired with the sellers’ law firm as to whether the sellers were Canadian residents at the time of purchase. The law firm had responded that they had no information on this topic, as they were only acting for a creditor of the sellers, who had obtained conduct of the sale of the property pursuant to a court order. The notary then took no further steps to ascertain the residence status of the sellers.

The court found that the notary had failed to make “reasonable inquiry” as to the residence status of the sellers, and had failed to advise the buyers about the potential tax liability. While the buyers are liable to the CRA for some $695,000, plus any applicable penalties and interest, there has been no determination at this stage of the case as to whether the buyers are entitled to recover the entire amount from the notary. It is possible that, at the next stage of the case, the notary might be able to reduce their liability by raising some defenses, or pointing fingers at other persons involved in the transaction. The notary did attempt to add the buyers’ agent as a third party to the action for this purpose, but that application was refused by the court as it was brought forward too late in the litigation. The notary can still commence a separate action against the buyers’ agent, although it’s difficult to see how the buyers’ agent could be at fault in that case. The decision has been appealed by the notary.

As of March 30, 2017, the standard form Contract of Purchase and Sale (CPS) was amended to include the buyers’ declaration as to citizenship (as required, in respect of the BC 15 percent foreign buyer tax), and the sellers’ declaration as to residency status (in respect of the Income Tax Act). Licensees should not give advice to their clients on how to complete this declaration, nor on how to interpret any declaration made by the other party to the transaction. However, as a best practice, licensees should recommend that their clients seek legal or accounting advice with respect to tax issues. A reminder to this effect now also appears on the “Information About This Contract” sheet appended to the CPS.

The Real Estate Council of British Columbia advises that brokerages should also be aware of this matter—particularly where a CPS is assigned to a non-resident buyer and the profit is to be paid to the assignor before completion of the original deal.

Oana Hyatt
B.A., LL.B.

1. Todd, Douglas, “House buyer beware: Landmark B.C. court ruling will shake real-estate industry,” Vancouver Sun (March 25, 2017), online: http://vancouversun.com/news/local-news/house-buyer-beware-landmark-b-c-court-ruling-will-shake-real-estate-industry.
2. Mao v. Liu, 2017 BCSC 226.
3. Income Tax Act, R.S.C., 1985, c. 1, s. 116.

“Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information or the currency of legal information.

Real Estate is becoming like the movie A million ways to die in the west but instead of dying it more like a million ways to get sued with more being added every day.  Buyer beware and buying and selling agent please ask the questions you need to.

Cheers Scott Simmons

Filed Under: Buy house on Salt Spring

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CRITICAL BUYING INFO

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Salt Spring Real Estate Market Report

If you are looking for Salt Spring Island Real Estate it would be well worth your time to check out my Salt Spring Market Report pages.

To help you search for a Salt Spring home for sale I have two systems you can use.  One is a map based mobile search system for tablets and/or phones. This system works really well if you are on Salt Spring, as it will automatically show you properties as you drive around the island.

The other system is a data base (Advanced MLS system or PCS) for laptops or desktops.

These two systems display information in real time, which allows you to view new listings within one second of them coming on the market. You will also find the “sold” prices of homes, as well as other useful information.

Radio Real Estate Shows

TV show Realty Reality on Salt Spring

So glad shooting for the new Real Estate TV show “Realty Reality” is over. It was a lot of work. It all looks so easy on TV but in reality it was not easy. I think they were waiting for the “moment” to happen. You know the big fall down the steps or fall of […]

Home inspection on Salt Spring Island

Home inspection on Salt Spring Island happened yesterday at a 42 year old log home. To accomplish the home inspections the buyer brought in a  Home Inspector, Geo-technical Engineer and a local Salt Spring contractor. Jeff the home inspector tells the story about the bag of Gold he found in an attic; gold story How […]

Salt Spring home face lift

My clients bought this dated salt spring home a month ago and are upgrading it.  The home was built in 1996 and is structurally 100% perfect.  It seams as if the original owner skimped on the finishing.   The main up grade Alex Denny (salt spring master carpenter) will be doing for the owners is re-finishing […]

Latest post

Salt Spring Home Staging Tips

If you’re selling your home, you want to create the best impression possible for prospective buyers. And one of the easiest ways to do that is through staging. A well-staged home gives buyers a better sense of what living in the space will be like and makes them more likely to want to buy it. […]

Packing Tips for Busy Home Sellers

Packing correctly can simplify the burden of the entire process for a household and potentially their moving company. By packing smart, using proper protocols, and paying attention to the details, things can be ready to go far before the movers arrive and ready to unload upon arrival. Here are some tips for busy home sellers […]

Salt Spring Housing Crisis explained

Is Salt Spring in the middle of a housing crisis?  It all depends on who you talk to and what one defines as a crisis. If you move to Salt Spring and have limited funds and are looking to rent a home at about $1000 per month your probably out of luck.  There are basically […]

Buying on Salt Spring Island

Salt Spring rental homes by the numbers

July 18, 2018 By Scott Simmons 2 Comments

I get many people asking me about buying a rental home on Salt Spring and usually spend a lot of time answering all their questions.  So in this post, I hope to cover some of the factual information. Here are the typical questions and basic answers; What is the rental market like on Salt Spring?  […]

Ban on Dual Agency BC

June 16, 2018 By Scott Simmons 2 Comments

On June 15th, 2018 the ban on dual agency just came into effect in BC. Here is a post I wrote about how the new rules will change the way I do business on Salt Spring New Rules for BC Real Estate As a continuation of the New Rules post, what happens if we are […]

New Rules for BC Real Estate

June 16, 2018 By Scott Simmons Leave a Comment

On the 15th of June 2018, the new rules governing BC real estate have come into effect. If you come to Salt Spring to look at homes and or land Scott will go over the form below and ask you if you would like agency representation and ask you to sign this Disclosure-of-Representation-in-Trading-Services as a represented part […]

Salt Spring Island Trust Land Use Zoning bylaw 355

February 17, 2018 By Scott Simmons Leave a Comment

On Salt Spring Island the Island Trust is responsible for our local zoning.  You can find our zoning info here at the Salt Spring Island Trust LUB 355. The bylaw has maps that cover every part of the island.  Believe it or not every few months or so I get an email from someone saying […]

Is an offer an sale?

January 26, 2018 By Scott Simmons Leave a Comment

This last month I had an accepted offer on a home and had a backup offer come in.  The backup offer was a very weak offer because the condition precedent (subject to clause) was so subjective.  It was subject to the buyer viewing and liking the lot.  Normally no one would take an offer like […]

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SALT SPRING NEWS

Salt Spring Housing Crisis explained

July 12, 2018 By Scott Simmons 2 Comments

Is Salt Spring in the middle of a housing crisis?  It all depends on who you talk to and what one defines as a crisis. If you move to Salt Spring and have limited funds and are looking to rent a home at about $1000 per month your probably out of luck.  There are basically […]

Candidate for Regional Director CREA

March 7, 2017 By Scott Simmons Leave a Comment

I’m running for the position of board member Regional Director for BC for the Canadian Real Estate Association (CREA).  Below is my official platform after edits suggested by CREA lawyers. My name is Scott Simmons. I’m a REALTOR® on Salt Spring Island BC. If you go to the REALTOR.ca site and put in Salt Spring […]

CRD sewer and solid waste

January 23, 2017 By Scott Simmons Leave a Comment

The nuts and bolts of local goverment are really the non glamours basics of water, sewer and garbage (solid waste).   The CRD is the local service provider for Salt Spring.  On the night of 24 Nov 2016 Russ Smith Senior Manager, Environmental Resource Management for the CRD put on a waste presentation.  Here is a […]

Incorporation – A Third Option: Self-governance with contracted services

May 11, 2016 By Scott Simmons Leave a Comment

This was just posted on the Salt Spring exchange in 4 parts.  I have permission from John Gauld the author to publish this document on my Salt Spring web site;   SSI is known as a community that questions conventional practices and is creative and innovative in its response to community challenges. Perhaps the up-coming […]

Salt Spring’s new SSIWPA PAC

November 4, 2014 By Scott Simmons 2 Comments

If you live on Salt Spring you have to get used to all the acronyms.  If you have not heard of SSIWPA it’s because it’s new.   SSIWPA stands for Salt Spring Island WaterShed Protection Authority.  Today  was the first meeting of the SSIWPA PAC (Public Advisory Committee). The ideal behind SSIWPA is that it […]

 

Critical Salt Spring Buying Info

Ban on Dual Agency BC

June 16, 2018 By Scott Simmons 2 Comments

On June 15th, 2018 the ban on dual agency just came into effect in BC. Here is a post I wrote about how the new rules will change the way I do business on Salt Spring New Rules for BC Real Estate As a continuation of the New Rules post, what happens if we are […]

New Rules for BC Real Estate

June 16, 2018 By Scott Simmons Leave a Comment

On the 15th of June 2018, the new rules governing BC real estate have come into effect. If you come to Salt Spring to look at homes and or land Scott will go over the form below and ask you if you would like agency representation and ask you to sign this Disclosure-of-Representation-in-Trading-Services as a represented part […]

Sun Path Chart

Does the home get sunlight?

February 28, 2013 By Scott Simmons 1 Comment

If you’re planning to live on Salt Spring year-round, one of the most important things to consider when buying a property is SUNLIGHT. Do the neighbor’s trees or a mountain block the sun during the winter months?  According to Salt Spring real estate mythology, “If they buy in August, they will list in November and […]

Aggregate Days on the Market

January 2, 2012 By Scott Simmons Leave a Comment

What are “aggregate days on the market”? On the Victoria Real Estate board an agent can “Re-List” a property for a mere $25 fee.  An example would be if a home has been listed on the board for 180 days the listing can be taken off the market and then “Re-Listed” and appear to be […]

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