It is customary for mortgagees to stipulate that mortgage documents will be prepared by their conveyancer at the expense of the mortgagor. The following clause should be used when the buyer wants a lawyer to look at the physical encumbrances and explain the consequences of them: Subject to the Buyer confirming on or before (date) that zoning for the Property is (indicate desired zoning) . RECBC considers this a positive development in that a property inspection will assist the buyer in understanding, prior to the purchase, the condition of the property and what repairs may be necessary. If a licensee is going to hold or receive a deposit which the parties have agreed will be delivered to and held by someone other than that licensee’s related brokerage, a separate written agreement must be obtained. NOTE: Licensees are advised that the timing requirements for builders lien holdbacks is a complex area of law and they are well advised to have their clients seek legal advice in situations involving new or recent construction. In BC, many homes outside major urban areas don’t have access to a public sewer system. (ii) Strata Plan not Registered at the Time the Contract is Signed. Licensees should confirm through acceptable identification that the person asking that the contract be assigned is the purchaser on the contract; the assignor’s and the assignee’s rights to the initial deposit under the original contract, if any, are dealt with; and. Disclosure, Assignment, and Council Discipline. Subject to the (select either Seller’s or Buyer’s) lawyer approving on or before (date) the arrangements for holding the deposit money in this transaction. Determine whether your buyer had any prior experience with wells. Copies of all certificates must be retained in the approved lender’s file. However, if a cash deposit is to be given to a licensee so that that licensee can deliver the cash to the person who is to hold it, another step is necessary. As a licensee, you should advise your clients to seek independent professional advice on that issue. Alternatively they may refer the matter to the designated arbitrator (if one is designated in the deficiency clause) or if the clause simply refers to the Commercial Arbitration Act, they may start the process of invoking that Act and choosing an arbitrator. Subject to the mortgagee approving the Buyer in writing on or before (date), thereby releasing the Seller from liability under section 24 of the Property Law Act. Sections 36(3) and 59(1) of the Strata Property Act and section 25 of the Interpretation Act effectively give the strata corporation eight days, following a request, to deliver a Form B – and up to 15 days to provide copies of the other records referred to in the following clause. failed to inform the sellers that recovery is expected to flow to the owners as shown on the title at the time of recovery; failed to advise the sellers to negotiate with the buyers the right to share in the recovery; and. A primary concern must be the ownership of the property being offered in trade. Subject to the Buyer, on or before (date) at the Buyer’s expense, obtaining and approving an inspection report against any defects whose cumulative cost of repair exceeds (select a monetary value) and which reasonably may adversely affect the property’s use or value. The owner-builder must advise the Licensing and Consumer Services branch of BC Housing of the occupancy date and the Licensing and Consumer Services branch of BC Housing does not release the Disclosure Notice until the one-year occupancy requirement has been verified. These notice obligations are in addition to your obligation to disclose your interest in trade to the seller. As a licensee acting for the seller of a property with an installed onsite wastewater treatment system, you should obtain the pertinent records from the local health authority in order to verify that: Wastewater treatment systems may be subject to periodic inspections by the local government or the health authority may have issued a work order for a particular system.