Siebenga & King Law Offices
Buying a home is one of the biggest purchases you will make in your life.
This is such an important decision and process and it’s important that you choose the right people to help you with this process. You will have
chosen your real estate agent, your banker, your insurance agent, and your lawyer. Each one involved has something to offer. As your lawyers, our job is to pull together all the necessary portions of the closing to have the home you are buying properly conveyed to you and satisfy your bank that it is getting security against your property.
Getting you from the time you give an offer on your home to the final documents necessary to get title into your name involves a complicated process that requires our expertise to assist you. At Siebenga & King, we have attempted to develop some educational aids to help you understand this process. Please see our educational piece “What Happens Next”.
Here at Siebenga & King, we strive to provide affordable legal services in all our dealings, but especially for our real estate clients. Each month, we provide a different promotional offer. We want you to understand that we want your business and we value you as a client. Just as much as grocery stores will offer coupons to give you incentive to shop with them, we believe you deserve to have some choice in who will provide you with legal services. We believe this choice should be us!
To ensure we accurately do this work for you, there are a number of questions that we will need answered.This typically is done with a phone call from one of our team members.
- What is the FULL, LEGAL name of all the parties that will be registered on the title?
- What is the occupation of each person to be registered on title?
- If there is more than one person on title, how do you wish to hold title? If you register as Joint Tenants, this flows with it the right of
survivorship; if something happens to one, the property will flow to the other by way of survivorship. If you register as Tenants in Common or with a particular percentage of interest, then there is no right of survivorship. When on registered owner dies, his share will have to be probated and distributed according to his will.
- Are there any parties acting solely as covenantor/guarantor on the mortgage? If so, what is their full name and address?
- Will you be living on the property? If not, what is your mailing address to which you want your property assessment and tax notice to go?
- Are you a first time homebuyer? This question has to do with the payment of Property Transfer Tax. Please visit the government website to learn more or call our office for possible up-to-date exemptions: http://www.gov.bc.ca/propertytransfertax
- Is the property a strata property? If so, we need the name of the strata management company. Sometimes the listing agent knows this information;
- With whom are you getting your mortgage? Did you use a broker? Do you have the bank branch contact that you were dealing with
- With whom are you getting your house insurance?
- Did you put a deposit down for the property? If yes, who is holding the deposit?
- If you are purchasing a detached home, do you have a site survey for the property?
- Is the property rented? If there are tenants remaining on the property, what is the monthly rental amount and what is the amount of damage deposit taken, if any?
- Is the property a brand new construction or the purchase of a used property?
- If you are purchasing a strata, do you have the Form B Information Certificate?
- Who is your real estate agent?