Inside a Realtors Office Meeting
The first Wednesday of every month we meet as a Homelife Team with all our Abbotsford Realtors and Mission Realtors and discuss hot topics in our industry. This month Hot Topic was how to facilitate a purchase on a home with an owner/self-built property. You have to be very careful negotiating this type of scenario. This was a fun meeting that we had got Continuing Education Credit’s for Homelifes 5 Star Training. Seminar was perfect opportunity for us to brush up on the Homeowner Protection Act which was created July 1, 1999.
Summarized Information; If buying or selling a non-registered builders homes, remember it is important to ensure the home can be legally sold and if it was owner built that it has an owner builder declaration.
For homes 10 years and younger built by a licensed builder, it is important to get the details of the 2-5-10 Warranty program to see what coverage may still be left.
- HOMEOWNER PROTECTION ACT July 1, 1999.
- Special Clauses must be considered when buying a self-built, personal occupied property under 1 year old.
- Owner Builder Declaration a must for self built properties
- Warranty Verification a must for licensed builder properties
I recommend that if the home is builder built, you research if the builder still has a valid residential license in good standing too. Otherwise get a Homelife Realtor and we can do this for you!! 🙂
300 – 3303 Immel St. Abbotsford BC V2X 5Y1
1 – 32540 Logan Ave Mission BC V2V 6G3
O 604 859 3141 or 604 826 2699 F 604 859 5226 or 604 826 2621
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