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 5 of 10, showing records 101-125 of 250.

3525 Joy Close Langford - La Olympic View
$998,000
6 Bed | 4 Bath | 3,491 SqFt
Listed with Century 21 Queenswood Realty Ltd.
1002 - 60 Saghalie Rd Victoria West - VW Songhees
$1,200,000
2 Bed | 2 Bath | 1,126 SqFt
Listed with Sutton Group West Coast Realty
Open House
Open House - Sat, Mar 30th, 2:00 pm to 4:00 pm
2366 Lund Rd View Royal - VR Six Mile
$689,900
3 Bed | 3 Bath | 1,713 SqFt
Listed with RE/MAX Camosun
6 Trenchard Pl View Royal - VR View Royal
$829,900
4 Bed | 4 Bath | 2,895 SqFt
Listed with RE/MAX Camosun
3 - 3933 South Valley Dr Saanich West - SW Strawberry Vale
$995,900
4 Bed | 3 Bath | 2,833 SqFt
Listed with Sotheby's International Realty Canada
10731 Bayfield Rd North Saanich - NS McDonald Park
$3,750,000
4 Bed | 4 Bath | 3,942 SqFt
Listed with Pemberton Holmes - Cloverdale
Open House
Open House - Sat, Mar 30th, 2:00 pm to 4:00 pm
1485 Pebble Pl Langford - La Bear Mountain
$1,499,900
3 Bed | 3 Bath | 3,167 SqFt
Listed with Maxxam Realty Ltd.
403 - 60 Saghalie Rd Victoria West - VW Songhees
$849,000
2 Bed | 2 Bath | 1,010 SqFt
Listed with Sutton Group West Coast Realty
2806 Knotty Pine Rd Langford - La Langford Proper
$544,900
2 Bed | 4 Bath | 1,593 SqFt
Listed with Royal LePage Coast Capital - Westshore
9375 Webster Pl Sidney - Si Sidney South-East
$1,149,000
3 Bed | 3 Bath | 2,233 SqFt
Listed with The Agency
1358 Thurlow Rd Victoria - Vi Fairfield East
$1,998,000
4 Bed | 5 Bath | 3,484 SqFt
Listed with DFH Real Estate Ltd.
Open House
Open House - Sat, Mar 30th, 12:00 pm to 3:00 pm
6532 Felderhof Rd Sooke - Sk Broomhill
$729,900
5 Bed | 4 Bath | 2,866 SqFt
Listed with RE/MAX Camosun - Oak Bay
18 Trenchard Pl View Royal - VR View Royal
$800,000
4 Bed | 4 Bath | 2,937 SqFt
Listed with Coldwell Banker Oceanside Real Estate
6311 Riverstone Dr Sooke - Sk Sunriver
$729,000
5 Bed | 3 Bath | 2,429 SqFt
Listed with RE/MAX Camosun
13 - 9667 First St Sidney - Si Sidney South-East
$621,000
1 Bed | 1 Bath | 784 SqFt
Listed with Macdonald Realty Ltd. (Sid)
12 - 9667 First St Sidney - Si Sidney South-East
$1,250,000
2 Bed | 3 Bath | 1,440 SqFt
Listed with Macdonald Realty Ltd. (Sid)
6 - 9667 First St Sidney - Si Sidney South-East
$1,220,000
2 Bed | 3 Bath | 1,390 SqFt
Listed with Macdonald Realty Ltd. (Sid)
312 - 3333 Glasgow Ave Saanich East - SE Quadra
$499,900
2 Bed | 2 Bath | 796 SqFt
Listed with NAI Commercial (Victoria) Inc.
605 - 60 Saghalie Rd Victoria West - VW Songhees
$734,900
2 Bed | 2 Bath | 983 SqFt
Listed with Fair Realty
2293 Mountain Heights Dr Sooke - Sk Broomhill
$789,900
6 Bed | 3 Bath | 2,849 SqFt
Listed with Newport Realty Ltd.
1042 Golden Spire Cres Langford - La Olympic View
$899,000
6 Bed | 5 Bath | 3,067 SqFt
Listed with Pemberton Holmes - Westshore
306 - 826 Esquimalt Rd Esquimalt - Es Esquimalt
$305,000
1 Bed | 1 Bath | 531 SqFt
Listed with HomeSold Real Estate Corporation
103 - 694 Hoylake Ave Langford - La Thetis Heights
$545,900
2 Bed | 3 Bath | 1,588 SqFt
Listed with Royal LePage Coast Capital - Westshore
Open House
Open House - Wed, Mar 27th to Sun, Mar 31st, 12:00 pm to 5:00 pm
2264 Deerbrush Cres North Saanich - NS Bazan Bay
$849,900
4 Bed | 3 Bath | 1,905 SqFt
Listed with Newport Realty Ltd.
Open House
Open House - Wed, Mar 27th to Sun, Mar 31st, 12:00 pm to 5:00 pm
2252 Deerbrush Cres North Saanich - NS Bazan Bay
$819,900
3 Bed | 3 Bath | 1,938 SqFt
Listed with Newport Realty Ltd.

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.