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Residential Property Purchase

For many of our clients, buying a home is a stressful experience. This is understandable. There are many unknowns and purchasing a home is a significant capital outlay. Signing a contract of purchase and sale is only the beginning of the end. To get to the end zone and take title to your property, many logistical and legal things have to happen. While the scope of an engagement with a solicitor for a property purchase cannot possibly cover all potential issues, you will be pleased to know that in a standard residential conveyance, a lawyer can do a lot to provide you wish clarity and reassurance. At Open Door Law, our standard services include a review of the contract to identify potential issues of concern, the preparation of legal and mortgage documentation, a review of the state of title, registration of your name as owner at the Land Title Office and finally preparing and delivering a reporting package shortly after the closing date.

Whether you are a first-time home buyer or you are an experienced property buyer, our friendly and experienced conveyancing team members are ready to serve you and will guide you through the entire conveyancing process. Please feel free to complete a property purchase intake form which will be reviewed by our office staff who will be in touch to discuss your transaction. We have also created a property transfer tax calculator to help you determine how much transfer tax is payable if you do not qualify for one of the narrow property transfer tax exemptions. Click Here to access the property transfer tax calculator:

home buying checklist

  • Determine your budget.
  • Get pre-approved.
  • Search for a property.
  • Find a real estate agent.
  • Visit open houses and tour properties.
  • Submit an offer.
  • Negotiate.
  • Close a deal that is conditional.
  • Perform due diligence such as appraisals, insurance confirmation, and inspection if applicable.
  • Show the contract to your lawyer and banker.
  • If all is okay, remove subjects.
  • Work with lawyer to attend to closing.
  • Pack up possessions.
  • Move into new home! Congratulations.

Common steps in residential purchase conveyancing

  • Open new file and gather data from client
  • Check BC Assessment Authority property assessment
  • Confirm residency based on contract
  • Prepare Freehold Transfer Form
  • Prepare Mortgage or Financing Documentation
  • Confirm municipal tax amounts
  • Prepare Seller’s Statement of Adjustments
  • Prepare Buyer’s Statement of Adjustments
  • Review Seller’s documentation
  • Meet with client to sign closing documents and receive closing funds
  • Prepare letters of undertaking to opposing counsel and agree on amounts on closing
  • Conduct a Pre-Registration Search of Title
  • Register conveyancing and financing documents at the Land Title Office
  • Conduct a Post- Registration Search of Title
  • Release monies to Seller’s lawyer
  • Report to client

Ready to get started?

Complete our online purchase form to start your file.

Property Transfer Tax Calculator

Estimate the property transfer tax you owe on the fair market value on your property.

As of February 21, 2018, Property Transfer Taxes in British Columbia are calculated by this formula:

  • 1% of the first $200,000 + 2% of anything above $200,000 up to and including $2,000,000 + 3% of amounts above $2,000,000 up to and including $3,000,000 + 5% of anything over $3,000,000

Note: This calculator should not be considered a substitute for professional accounting or legal advice. Tax rates change from time to time. Please check with our office if you need confirmation of the tax amounts, which Open Door Law Corporation can provide if retained. 

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