Q: I have found a property I like, what do I do now?
A: If you have not already, you should seek the services of a knowledgeable Realtor who will be able to assist you in proceeding. Depending on whether you are pre-approved for a mortgage you may be able to submit an offer immediately.
Q: I am not a Canadian resident, are there any restrictions on buying in Canada?
A: There are no restrictions on foreign ownership, however, there are a number of considerations when it comes to financing and taxation. Your agent will be able to assist you and provide expert advice on these matters.
Q: What are Phase 1 and Phase 2?
Phase 1: The owner has unlimited use or can choose to rent on a nightly basis. When the property is unoccupied it can be made available for rentals. Phase 1 usually refers to townhouses and some larger condo buildings.
Phase 2: The owner is restricted to 28 days in the winter and 28 days in the summer for a total of 56 days per year. The rest of the time it must be made available for nightly rentals. These buildings are mainly hotel-style condos like the Westin or Four Seasons.
Q: What are Tourism Whistler Fees?
A: Tourism Whistler Fees are quarterly fees based on the number of bed units in the property. These fees go to Tourism Whistler to promote the Resort around the world. However, if the property is only used by the owner and not rented, you may apply for a lower rate.
Q: What is this neighbourhood like?
A: Many agents are asked about certain areas, or in many cases buyers may have preconceived notions about a location. The most important thing is to keep an open mind and find an agent who understands your needs and can point you in the right direction based on an intimate understanding of the area.
Q: I am from Vancouver and have an agent based there who I trust, should I use them?
A: This is a tricky question but best explained by using an example of using a Whistler agent to purchase in Vancouver. In this case the Whistler agent would always refer you to a Vancouver Realtor as they have the specific knowledge of the local area and the market.
The Whistler agent can find properties in Vancouver, but that doesn’t mean they are intimately aware of all the issues and concerns that need to be taken in consideration when buying in a particular location in Vancouver.