SOLD #304-8391 Bennett Road: 2 Bed 1 Bath Condo for Sale in Richmond BC

#304 - 8391 Bennett Road
Richmond BC, V6Y 1N4, Canada

RICHMOND BC HOMES
GREATER VANCOUVER BC REAL ESTATE FOR SALE
House | Townhouse | Apartments-Condos | Real Estate
Richmond | Vancouver | Ladner | Tsawwassen
RE/MAX West Coast

Thank you for visiting our video. We specialize in the purchase and sale of residential housing in Richmond, British Columbia. Whether you are relocating within Richmond, searching for an investment property, or leaving Richmond for another area, my experience can help you make the right decisions. Please contact us or take your time exploring my channel and make use of the resources available to you.

Please visit:
http://www.michaelcowling.com or
http://www.michaelcowling.com/304-8391-bennett-road-richmond-bc-v6y-1n4/
for more information.
Call Michael Cowling at 604-276-2335 or email him at mc@michaelcowling.com for showings.

Property Information:
Sub Area: City Centre
MLS® No.: V1087025
Bedrooms: 2
Bathrooms: 1
Total sq.ft.: 837


Description:
Quiet bright top floor 2 bedroom/1 bath tastefully renovated with newer paint, laminated flooring throughout, kitchen has newer cabinets, sink & faucet, counter top, tiled backs plash & tiled floor, modern lighting & bathroom tiled wall. Bright West-facing balcony has an open view to the garden, good size in-suite storage, generous bedroom size & good floor plan. Well maintained building has been updated w/ double vinyl windows, interior carpets, and vinyl sidings. Excellent location, walk to transit, restaurant & shopping centre. Great buy for 1st time home buyers or investors. Rentals allowed & pet friendly. Maintenance fee includes Richmond Utilities.

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RE/MAX Michael Cowling And Associates Realty
Serving Richmond, Vancouver, Ladner, and Tsawwassen
http://www.michaelcowling.com

FOLLOW me on FACEBOOK
http://www.facebook.com/michaelcowlingrealty

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SOLD 3622 Solway Drive: 5 Bed 3 Bath Half Duplex For Sale in Richmond BC

This property is now SOLD.

3622 Solway Drive
Richmond BC, V7E 3T5, Canada

RICHMOND BC HOMES
GREATER VANCOUVER BC REAL ESTATE FOR SALE
House | Townhouse | Apartments-Condos | Real Estate
Richmond | Vancouver | Ladner | Tsawwassen

Thank you for visiting our video. We specialize in the purchase and sale of residential housing in Richmond, British Columbia. Whether you are relocating within Richmond, searching for an investment property, or leaving Richmond for another area, my experience can help you make the right decisions. Please contact us or take your time exploring my channel and make use of the resources available to you.

Please visit:
http://www.michaelcowling.com or
http://www.michaelcowling.com/3622-solway-drive-richmond-bc-v7e-3t5/
for more information.
Call Michael Cowling at 604-276-2335 or email him at mc@michaelcowling.com for showings.

Property Information:
Sub Area: Steveston
MLS® No.: V1086482
Bedrooms: 5
Bathrooms: 3
Total sq.ft.: 2,420
Lot sq.ft.: 4,224


Description:
Great investment opportunity, why buy a townhouse when you can own a nice piece of land. Perfect starter home for a small family, no need to pay for any monthly strata fee. Lower floor can provide approximately $1250/month mortgage helper. Ideal for 2 families or one large extended family. Close to all amenities, schools, transportation & a short stroll to the dyke.

--------------------------------------------------------------------------------­-----
RE/MAX Michael Cowling And Associates Realty
Serving Richmond, Vancouver, Ladner, and Tsawwassen
http://www.michaelcowling.com

FOLLOW me on FACEBOOK
http://www.facebook.com/michaelcowlingrealty

FOLLOW me on TWITTER
https://twitter.com/#!/MichaelCowling

SOLD 3620 Solway Drive: 5 Bed 3 Bath Half Duplex for Sale

This Property is now SOLD

3620 Solway Drive
Richmond BC, V7E 3T5, Canada

RICHMOND BC HOMES
GREATER VANCOUVER BC REAL ESTATE FOR SALE
House | Townhouse | Apartments-Condos | Real Estate
Richmond | Vancouver | Ladner | Tsawwassen

Thank you for visiting our video. We specialize in the purchase and sale of residential housing in Richmond, British Columbia. Whether you are relocating within Richmond, searching for an investment property, or leaving Richmond for another area, my experience can help you make the right decisions. Please contact us or take your time exploring my channel and make use of the resources available to you.

Please visit:
http://www.michaelcowling.com or
http://www.michaelcowling.com/3620-solway-drive-richmond-bc-v7e-3t5/
for more information.
Call Michael Cowling at 604-276-2335 or email him at mc@michaelcowling.com for showings.

Property Information:
Sub Area: Steveston
MLS® No.: V1086473
Bedrooms: 5
Bathrooms: 3
Total sq.ft.: 2,473
Lot sq. ft.: 6,760

Description:
ATTENTION FAMILIES/INVESTORS/DEVELOPERS. Beautiful ½ duplex. Tastefully updated including high end carpeting, wainscoting, bathrooms, kitchens, windows, roof, and more. 5 bedrooms in total, 2 fully self-contained spacious homes, 2 bed lower in-law suite with private entrance. Great location in Steveston with over 6700 SF south facing lot. Owner occupied and easy to show with notice

--------------------------------------------------------------------------------­-----
RE/MAX Michael Cowling And Associates Realty
Serving Richmond, Vancouver, Ladner, and Tsawwassen
http://www.michaelcowling.com

FOLLOW me on FACEBOOK
http://www.facebook.com/michaelcowlingrealty

FOLLOW me on TWITTER
https://twitter.com/#!/MichaelCowling

What Stratas Need to Know About Electric Vehicle Charging Stations

Electric vehicles are gaining popularity in Metro Vancouver. These include:

·         battery electric vehicles;

·         plug-in hybrid electric vehicles; and

·         extended range electric hybrid vehicles.

What does this mean for strata corporations and strata lot owners?

The Condominium Home Owners’ Association of BC (CHOA) with the partnership and support of the BC Ministry of Energy and Mines has identified options and procedures in a newly released guide, Installation of Electric Vehicle Charging Stations on Strata Properties in British Columbia.

Part 1 of the guide explores the various aspects a strata corporation needs to consider when installing an electric vehicle charging station (EVCS) in a new or existing multi-family strata corporation. It covers legislative restrictions and regulations, and limitations created by the registered strata plan, easements and covenants and strata corporation bylaws.

Part 2 provides an overview of the technical requirements for EVCS in strata titled properties, an overview of technology, an outline of installation costs and requirements, as well as operational costs.

For a free copy of the guide, visit http://www.choa.bc.ca/ and click on electric vehicle charging station (left-hand side).

Did you know?

There are more than 27,000 strata corporations in BC, collectively representing more than 600,000 strata-titled properties including residential, commercial, industrial, hotels, leasehold marinas and leasehold property.

(Source: REBGV)

Changes Affect Buyer’s Rights

The Real Estate Development Marketing Act¹ (REDMA) has received significant attention in recent years.

While REDMA applies to a wide variety of multi-unit properties, including time shares, leasehold interests and cooperative interests, it is most often associated with pre-sale strata developments.

History

REDMA came into force in 2004 at the beginning of a market upswing. Many purchasers signed pre-sales contracts and completed their purchases before the financial crisis of 2008. Others, when the crisis unfolded, found themselves committed to closing on properties at prices that were far higher than the pre-crisis values. At the same time, mortgage qualification rules tightened. Many buyers found themselves unable or unwilling to complete their purchases.

The fallout of the financial crisis led to judicial scrutiny of the protections contained in REDMA. The courts viewed REDMA as consumer protection legislation and interpreted its provisions generously in favour of consumers². Rescission of many contracts ensued for seemingly trivial breaches of REDMA.

Yet if REDMA was treated as consumer protection legislation, it also provides developers with significant benefits. Developers may change anything that affects the price, value or use of the property, and, so long as those changes are disclosed in an amended disclosure statement, a purchaser cannot rescind the contract.

Recent case law has seen the courts recognize the dual purpose of the legislation to both protect purchasers and to facilitate the efficient and profitable pursuit of real estate developments. The B.C. Court of Appeal recognizes these competing purposes and holds that only negative changes need to be disclosed in an amended disclosure statement³.

However, an earlier decision of the Court of Appeal was clear that errors in disclosure must not create different rights for different purchasers⁴. A change to a development may be negative to one purchaser, positive to another, and irrelevant to yet another. How will these decisions be reconciled?

Recent changes to REDMA

Following several purchaser-friendly court decisions, the B.C. Legislature made significant changes to REDMA which came into force on May 29, 2014⁵. Some proposed changes are sensible and are not obviously detrimental to purchasers. For example, developers may now:

•         provide separate disclosure statements for each phase in a phased development; and

·         provide a consolidated disclosure statement rather than each of the disclosure statements for the development.

However, there are important changes in remedies available to purchasers and the handling of deposits.

REDMA provides three remedies: rescission, unenforceability, and damages; this article will address the first two.

Previously, a purchaser could rescind a contract if entitled to a disclosure statement or amended disclosure statement they never received. There was no time limit for rescission.

As a result of changes to REDMA, the right to rescind the contract expires one year after closing. This right to rescind is automatic if a disclosure statement is not received – but a purchaser can rescind only if the information in that disclosure statement would have been “reasonably relevant to the purchaser in deciding to enter into the purchase agreement.”

In addition, under Section 23 of REDMA – Agreements Void for Non-Compliance – a contract is unenforceable against a purchaser if Part 2 of REDMA (the heart and soul of the legislation) is breached. This encompasses a wide variety of breaches and applies to a number of situations where rescission doesn’t apply. This remedy is not available after closing.

However, certain breaches of Part 2 are excluded from the reach of Section 23 as a result of the new amendments, which incorporate a test of reasonable relevance to the purchaser. These changes take away the “slam dunk” argument available to purchasers when REDMA appears to have been breached. Developers will be emboldened to vigorously defend purchasers’ claims for return of their deposits.

Deposits

The recent amendments to REDMA also change how deposits are handled in ways particularly troubling for purchasers. REDMA always permitted developers to get a deposit without any adjudication of a purchaser’s claim that REDMA was breached. Section 18 provides that a trustee must release the deposit to a developer if the developer certifies:

•         the purchaser has no right of rescission;

•         the purchaser has failed to pay a deposit;

•         the contract permits the developer to terminate the contract; and

•         the developer has terminated the contract

Release of the deposit is based solely on the certification of the developer, not an independent person or the court. The purchaser may pursue the matter in court, but in the meantime the developer has the deposit and may use it. This is a concern given that a purchaser’s contract is often with a single-purpose company that will become asset-less upon sale of the units in the development. This is in stark contrast to the provisions of the Real Estate Services Act, which ensures the security of the deposit pending resolution of a dispute between seller and buyer.

The recent amendments include a small, but significant change to Section 18 that allows a developer to get the deposit if the balance of the purchase price (not only a deposit) is not paid and upon the developer certifying there is no right of rescission. As a result, if a purchaser exercises their right of rescission prior to closing, the developer may still get the deposit when the purchaser refuses to complete the transaction.

A developer may honestly believe there is no right of rescission (even though the purchaser has delivered notice

of rescission) and get the deposit. This effectively makes the developer judge, jury and executioner with respect to whether a purchaser has a right of rescission.

Notably, Section 18 of REDMA makes no reference to a contract being unenforceable. It is only where the developer acknowledges a right of rescission that it cannot get the deposit. A contract may be unenforceable in circumstances that do not provide for a right of rescission. In those circumstances, REDMA allows for the release of a deposit to a developer in circumstances in which the contract is unenforceable.

Conclusion

It is important to understand all of the risks of the intended purchase. Pre-sales come with additional risks that may not be obvious to purchasers. It is always appropriate to seek independent legal advice about the risks of purchasing a pre-sale.

1 S.B.C. 2004, c. 41

2 Pinto v. Revelstoke Mountain Resort Limited Partnership, 2011 BCCA 210

3 Woo v. Onni Ioco Road Five Development Limited Partnership, 2014 BCCA 76

4 299 Burrard Residential Limited Partnership v. Essalat, 2012 BCCA 271

5 REDMA, supra, as amended by the Miscellaneous Statutes Amendment Act, 2014, ss. 56 - 63

6 Ng (Re), 2011 CanLII 13607 (BC REC)

Exerts from Article by Wesley McMilliam – Lawyer
(Source: REBGV)