The contract controls the transaction
A residential or commercial purchase agreement sets the price, deposit, completion date, possession terms and conditions that determine whether the deal becomes binding. Subjects involving financing, inspection, strata documents, title review or other due diligence need clear wording and realistic deadlines.
Do not assume a standard form makes every transaction standard. Additional terms can shift risk, and removing subjects can have serious consequences if financing or due diligence is incomplete.
Title review and registered interests
B.C.’s land title system records ownership and many interests affecting land. A title search can reveal registered mortgages, statutory rights of way, covenants, liens and other charges, but interpreting their effect may require professional advice. The Land Title and Survey Authority recommends consulting appropriate professionals for land-title registrations and related questions. See LTSA guidance for property owners.
Lawyer or notary involvement
Lawyers and B.C. notaries commonly handle conveyancing work, although the appropriate professional depends on the transaction and complexity. LTSA notes that lawyers, notaries and land surveyors are experts in different land-title matters. A transaction involving disputes, complex corporate structures, unusual title issues or negotiated contractual risk may call for legal advice beyond routine registration.
Mortgages, payout and closing funds
Closing work can involve arranging mortgage proceeds, reviewing lender instructions, obtaining payout statements, preparing transfer documents, calculating adjustments and accounting for funds. Buyers should understand the amount required to complete before the deadline, including legal fees, taxes and adjustments that may not be part of the advertised purchase price.
Strata properties
Buying a strata lot adds another layer of documents and governance. Minutes, bylaws, financial statements, depreciation reports, insurance information, special levies and litigation can affect both current cost and future risk. The legal issues can be quite different from buying a detached property.
Buying and selling are deadline-driven
Completion, adjustment and possession dates have distinct meanings. Last-minute financing problems, missing identification, unexpected title charges or failure to deliver funds can create default risk. Start legal and financing arrangements early enough that problems can be addressed before the completion date.
Disputes involving property
Not every real-estate problem is a conveyance. Boundary disputes, failed transactions, co-ownership conflicts, construction disputes, misrepresentation allegations and certificates of pending litigation can involve civil litigation. See our Burnaby civil-disputes guide for the broader process.
Before a purchase or sale
- Read the entire contract and every addendum.
- Track subject-removal and completion deadlines.
- Arrange financing before committing to remove financing conditions.
- Review strata and title information where applicable.
- Send documents to the lawyer or notary early rather than immediately before closing.
Residential real estate disputes