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Can you back out after a home inspection Yes, as long as you are still subject to inspection. That is exactly what the clause is for, and using it is not bad faith. Once you have removed subjects, no. At that point the contract is firm and the inspection is behind you, whatever it found….

What happens if financing falls through Whether this is an inconvenience or a serious problem depends on one thing: whether you have removed subjects yet. Before subject removal, a properly written subject-to-financing clause lets you end the contract and your deposit comes back. After subject removal, the contract is firm. If you cannot complete, the…

Deposit vs down payment in BC Yes, your deposit counts toward your down payment. It is not an extra cost on top. But they are not the same thing, they are due at completely different times, and only one of them can be tied up for months if a deal goes sideways. The deposit is…

West Kelowna is paying developers to build below market Here’s the direct answer. On August 25 West Kelowna council approved $1.2 million in grant funding to get affordable housing built, on a 4-3 vote. The money comes from the federal Housing Accelerator Fund, it only applies inside the Westbank and Boucherie urban centres, and applications…

Cheaper to build, but fewer people building Here’s the direct answer. Kelowna cut its development cost charges by 25% in August, which takes roughly $9,000 to $13,000 off the fees on a new single-family home. At the same time, housing starts across British Columbia are down about 10% for the year. So building got cheaper…

Your BC Assessment is not your market value Here’s the direct answer. Your BC Assessment estimates what your home was worth on July 1 of last year, calculated in bulk, for property taxes. Market value is what a qualified buyer will actually sign for today, after walking through the inside. They’re answering two different questions,…