New Homes

Pre-sale and new build purchase contracts are unique. Navigating through terms such as...

And others, should only be done with competent, licensed representation.

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Rescission Periods:

A rescission period is your time to reflect on the purchase that you have just made, or anticipate making, and more importantly to read through the disclosure statement that accompanied the purchase agreement. You may rescind your purchase agreement by serving written notice on the developer within 7 days after the date of the purchase agreement and the time that you have acknowledged receiving the disclosure statement. That’s the short story, for the full version, contact us.

Disclosure Statements:

In British Columbia, all new developments of five or more units are subject to the Real Estate Development and Marketing Act which governs how a developer markets and sells development properties.

The Act requires developers to provide a Disclosure Statement to Buyers which discloses, among other things, the following:

  1. The Background and Experience of the Developer
  2. The Purchaser’s Rights of Rescission
  3. Permitted Uses of the Development
  4. Phasing of the Development
  5. Strata Information, Bylaws and Budgets
  6. Parking Entitlements
  7. Utilities and Services
  8. Description of the Land Title
  9. Construction and Warranties
  10. Local Government Approvals and Finances
  11. Handling of Purchaser’s Deposits

This document, while lengthy and comprehensive, should be read and understood by the buyer before firming any contract. Let us peruse and explain it to you.

Lien Holdbacks:

Brand new homes in BC are subject to liens being placed on the title of the home if a contractor or supplier was not paid for the product or service that went into the construction of the home. The Builders Lien Act provides rights and imposes obligations on most of the parties within the construction project in addition to their respective rights under their contracts. It is the law in BC and it must be adhered to. In most situations an amount of money (10%) should be held back by the conveyancer for a specified period of time to ensure if a lien is going to placed on the home, there will be financial resources held in trust to satisfy the claim. Ask us about exceptions to this practice.

Specification Sheets:

When buying a home that is yet to be built, it is often possible to have some input into the way the home shall be built and finished. In a new build condominium, this seldom means more than picking between 2 or 3 colour schemes which will dictate the colour of the flooring, cabinetry etc. In a single family dwelling it may be as extensive as laying out rooms, adding vaulted ceilings, customizing electrical and plumbing rough ins etc. This specification sheet must accompany the contract of purchase and sale, to the extent that, one would not be enforceable without the other.

There are advantages and disadvantages to either scenario. Call us anytime to discuss these.

Built Green:

Built Green is a national initiative committed to building residential homes in an environmentally responsible manner. With this comes sustainability and energy efficiency, as not all builders are building to Built Green standards. If you are concerned with the preservation of natural resources, reduction of pollution, ventilation and air quality, and the improvement of home durability, ask us for a list of Built Green builders on the South Island.

2-5-10 Warranty:

New homes built in BC by licensed residential builders must be covered by mandatory, third-party home warranty insurance. Home warranty insurance is a limited policy of insurance covering construction defects in a new home, ranging from cosmetic imperfections in your drywall to structural issues in your foundation. Various items are covered for varying amounts of time. It is most often referred to as the 2-5-10 Warranty. The coverage stays with the home which means it is transferable to subsequent owners. Ask us which items are covered and which aren't.

Page 4 of 10, showing records 76-100 of 250.

Open House
Open House - Sun, Jul 21st, 12:00 pm to 4:00 pm
3540 Paperbark Cres Langford - La Olympic View
$939,000
4 Bed | 4 Bath | 3,022 SqFt
Listed with Sutton Group West Coast Realty
407 - 745 Travino Lane Saanich West - SW Royal Oak
$859,900
2 Bed | 2 Bath | 1,225 SqFt
Listed with RE/MAX Camosun
105 - 989 Johnson St Victoria - Vi Downtown
$549,750
0 Bed | 1 Bath | 883 SqFt
Listed with Pemberton Holmes - Cloverdale
406 - 9762 Third St Sidney - Si Sidney North-East
$1,049,900
3 Bed | 3 Bath | 1,369 SqFt
Listed with Realtii Victoria
301 - 9762 Third St Sidney - Si Sidney North-East
$469,900
2 Bed | 2 Bath | 774 SqFt
Listed with Realtii Victoria
201 - 9762 Third St Sidney - Si Sidney North-East
$469,900
2 Bed | 2 Bath | 774 SqFt
Listed with Realtii Victoria
208 - 9762 Third St Sidney - Si Sidney North-East
$469,900
2 Bed | 2 Bath | 774 SqFt
Listed with Realtii Victoria
102 - 2829 Meridian Ave Langford - La Westhills
$796,900
4 Bed | 4 Bath | 2,393 SqFt
Listed with Breakwater Realty Inc
732 Bondi Close Langford - La Florence Lake
$875,000
4 Bed | 4 Bath | 2,875 SqFt
Listed with RE/MAX Camosun
N212 - 1105 Pandora Ave Victoria - Vi Downtown
$619,900
2 Bed | 2 Bath | 809 SqFt
Listed with The Condo Group Real Estate
298 Lone Oak Pl Langford - La Mill Hill
$799,000
4 Bed | 4 Bath | 2,403 SqFt
Listed with Sutton Group West Coast Realty
2438 Sooke Rd Colwood - Co Hatley Park
$829,900
5 Bed | 3 Bath | 2,679 SqFt
Listed with Maxxam Realty Ltd.
Open House
Open House - Sun, Jul 21st, 1:00 pm to 3:00 pm
502 - 767 Tyee Rd Victoria West - VW Victoria West
$699,900
2 Bed | 2 Bath | 802 SqFt
Listed with Sutton Group West Coast Realty
918 Peace Keeping Cres Langford - La Walfred
$669,888
4 Bed | 4 Bath | 2,000 SqFt
Listed with Sutton Group West Coast Realty
410 - 960 Reunion Ave Langford - La Langford Proper
$424,900
2 Bed | 2 Bath | 878 SqFt
Listed with DFH Real Estate Ltd.
308 - 960 Reunion Ave Langford - La Langford Proper
$479,900
2 Bed | 2 Bath | 1,139 SqFt
Listed with DFH Real Estate Ltd.
4 - 9889 Seventh St Sidney - Si Sidney North-East
$875,000
3 Bed | 4 Bath | 2,056 SqFt
Listed with Macdonald Realty Ltd. (Sid)
6 - 9889 Seventh St Sidney - Si Sidney North-East
$729,000
3 Bed | 3 Bath | 1,689 SqFt
Listed with Macdonald Realty Ltd. (Sid)
7 - 9889 Seventh St Sidney - Si Sidney North-East
$749,000
4 Bed | 3 Bath | 1,600 SqFt
Listed with Macdonald Realty Ltd. (Sid)
8 - 9889 Seventh St Sidney - Si Sidney North-East
$649,000
3 Bed | 3 Bath | 1,290 SqFt
Listed with Macdonald Realty Ltd. (Sid)
10 - 9889 Seventh St Sidney - Si Sidney North-East
$729,000
3 Bed | 3 Bath | 1,647 SqFt
Listed with Macdonald Realty Ltd. (Sid)
B - 93 Seagirt Rd Sooke - Sk East Sooke
$1,299,000
4 Bed | 3 Bath | 2,700 SqFt
Listed with Maxxam Realty Ltd.
112 - 946 Jenkins Ave Langford - La Glen Lake
$649,900
3 Bed | 3 Bath | 1,660 SqFt
Listed with Sotheby's International Realty Canada
106 - 946 Jenkins Ave Langford - La Glen Lake
$634,900
3 Bed | 3 Bath | 1,664 SqFt
Listed with Sotheby's International Realty Canada
104 - 946 Jenkins Ave Langford - La Glen Lake
$629,900
3 Bed | 3 Bath | 1,664 SqFt
Listed with Sotheby's International Realty Canada

NOTE: MLS® property information is provided under copyright© by the Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.