I just sold this Condo at 202 7600 FRANCIS ROAD, Broadmoor, Richmond, BC Broadmoor.

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Whether you’re buying or selling, professional representation can help at every step of the process. Think of your REALTOR® as a guide through what will most likely be the largest transaction of your life.

Your Realtor is there to give advice and guide you through the home buying or selling process. They can help navigate potential pitfalls and fill in knowledge gaps you may have when searching for your first home.

Realtors work with their clients within a legal relationship called agency. This is established by a contract between you, the client, and your Realtor.

It’s important to understand if someone is working for you or for the home seller. If you haven’t signed a contract to work with a Realtor, they don’t work for you. If you have, then they’re legally and professionally duty-bound to act and advise based on your best interest.

Your advocate

Once agency is established, think of your Realtor as a business partner. They can:

• Help you adopt a sound negotiation strategy based on industry knowledge and experience and can negotiate on your behalf. 
• Assess market history and current trends by reviewing the most recent home sale data on the Multiple Listing Service® and creating what’s known as a Comparative Market Analysis or CMA. A CMA will prove invaluable when it’s time to make an offer or set your asking price.
• Help you market your home and become a link with other Realtors to locate homes that meet your needs. 
• Recommend other professionals, such as a certified home inspector, lawyer or notary, insurance agents, reputable movers, or proven contractors.
• Help you find the right home at the right price – or help you get the most from your sale.

Expert knowledge

While finding the right home at the right price is an essential part of the buying process, many other factors are key to ensuring a positive and successful experience.

The first thing to look at is the property. There’s a lot to examine about the home itself. For example: 

• Does the property have a buried fuel storage tank?
• Does it have asbestos insulation?
• What about an unauthorized rental suite?
• Has it had renovations, and were they done without a permit?
• Are there moisture problems?
• Are there unregistered easements, encroachments or statutory right-of-ways?
• Has the home ever been used as a grow-op?

There are lots of questions to ask. A Realtor and a home inspector can help you find the answers.

The neighbourhood your potential home is in has a big impact on your quality of life – and a big impact on the value of a home. For example, you may want to know:

• How close the home is to public transit? 
• What school catchment it’s in? 
• How far it is from amenities – can you walk there? Do you need to drive? 
• Are there plans to re-develop or re-zone in the neighbourhood?

Again, your Realtor can help you find the answers to these questions.

A professional guide

There’s a multitude of documentation to navigate when buying or selling a home. Realtors deal with these on a daily basis and will help you navigate them.

Most importantly, the contract is the central legal document within a real estate transaction. Your Relator can help you develop a negotiating strategy and handle the details on your behalf. Realtors use standard form contacts which have been prepared by lawyers and tested by Canadian courts.

The right Realtor for you

You want to a Realtor who instills confidence. You need to feel comfortable with them. You may be working with your Realtor for several weeks or months. You’ll want to be comfortable with the person you choose.

A great place to start is with family and friends. Ask for recommendations. Take note of FOR SALE signs and visit a few real estate offices that appear active in your neighbourhood. Visit a few open houses and speak to the hosting Realtor.

Our MLS® listing website www.realtor.ca has a searchable directory as well. You can search by neighbourhood, areas of expertise, and other criteria.

When searching for a Realtor you should:

• Look for someone who is dedicated to their profession.
• Ask for references from their past clients.
• Ask about their level of training and education.
• You’ll want to have someone who knows the area where you want to buy and is familiar with homes in your price range.
• Lastly, be sure to discuss your expectations and limitations in your property search. 

Buying or selling a home is a milestone moment in your life. Having a Realtor on your side can help make the process as easy and enjoyable as possible.

Looking for a REALTOR who knows the market? Call me today --604.644.1044 Alisa Sakamoto 
Courtesy of: http://www.rebgv.org/how-realtor%C2%AE-works-you

I just sold this Condo at 205 14885 60 AVENUE, Sullivan Station, Surrey, BC Sullivan Station.

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We are proud to announce that this May 15th, 2:00 PM to 4:00 PM we will be hosting an Open House at 13918 58 AVENUE in the Panorama Ridge neighborhood, Surrey. This is an opportunity to visit this excellent Townhouse for sale in beautiful Panorama Ridge.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Panorama Ridge Townhouse for sale.

As always please do not hesitate to give me a call at 604.644.1044 if I can answer any questions before the open house, or if you would like to book a private showing.

Alisa Sakamoto
REALTOR® RE/MAX WESTCOAST

I just finished uploading this Townhouse for sale, 49 13918 58 AVENUE, Panorama Ridge, Surrey, BC

ALDER PARK â terrific gated community. Spacious (feels like a house) & move in ready w/ lots of visitor parking! GREAT floor plan â almost 2400 SF, 4 bed, 3.5 bath & double garage - perfect for a growing family. Over $30K worth of upgrades! HUGE kitch featuring extended quartz counters, s/s appl, TONS of cupboards, breakfast bar & sliding doors off the eating area to your summer patio & private fenced yard. Living room has a cozy gas f/p w/ vaulted ceilings. 3 big bdrms upstairs (2 of them have decks). Oversized master w/ beautifully upgraded ensuite w/ walk in shower. ALL baths have new toilets, tiles, quartz. BIG rec room/man cave & HUGE bdrm in the bsmt. Balcony + deck upgrades â seller will pay! Clubhouse available for parties. Mins away from Hwy 99 & 10. OPEN HOUSE MAY 14/15 2-4PM

By Atrina Kouroshnia, Mortgage Expert

With Vancouver’s heightened exposure during the winter Olympics in 2010, and, more recently, a sinking loonie, BC real estate is experiencing something of a renaissance with our neighbours to the south and overseas. Although buying property as a non-resident can be somewhat more involved, the right information will go a long way towards un-complicating the process.

So if you are a non-resident who is interested in investing in Canadian real estate and who would like to qualify for a mortgage, here are a few pointers to get you started.

Eligibility Requirements

As a non-resident of Canada, it is certain that you will be on the receiving end of additional review by your lender, mostly because a non-resident is viewed as a higher risk. The down payment is also higher. Depending on the lender and the country of origin, the minimum down payment of 35 per cent will be required, in comparison to Canadians who will often come into the market with just five to 10 per cent.

As with any mortgage, your lender will require documentation, beginning with an international credit report from your country of origin. Obtaining credit for Americans tends to be the easiest and quickest process, while international bureaus can take much longer to obtain. Income verification documents will also need to be provided and, if in foreign currency, must be converted into Canadian dollars.

Given the income supports the loan, most, US residents can qualify for up to 65 per cent of the loan. To that end, all documents provided must be in English or French and, if translation is required, it must be done by an independent party and notarized. If standard income verification is unavailable, most banks will require a larger down payment of about 50 per cent and confirmation of liquid assets equal to or greater than 30 months of PITH (mortgage principal, interest, taxes and heat) to be held at the bank in Canada for a minimum of 30 days before the closing date.

Know Your Time Limitations

As with Canadians who do not hold work visas for the US, those who wish to spend time in Canada are generally allotted duration of six months under a visitor’s visa. Where one may run into complications, however, is the amount of time they are required to spend outside Canada before returning to extend visitor status.

As most of us know from the amount of media coverage on foreign buyers of Vancouver real estate, non-residents may keep a home in Canada without applying for residency. However, for US residents, since the immigration act does not stipulate US residents must leave for six months before being able to return, there have been many examples of those who spend just a few days or weeks in America before coming back. This can become a somewhat contentious issue as it is largely up to the immigration officer to decide. Many legal professionals make it clear that a US resident must retain a permanent address outside of Canada. This requires proof such as a home deed, income tax statements and the proper identification. By keeping solid records of your comings and goings from Canada, you will ensure your ability to enjoy your secondary property here without any complications.

Meet the Taxman

When purchasing real estate in Canada as a non-resident, homebuyers are subject to the same fees and taxes as Canadians. Depending on the jurisdiction where the property is located, non-residents may be asked to pay higher property or land transfer taxes, as well as different capital gains when they sell a property. If there is a property you are interested in buying, it is imperative to ask these questions beforehand.

If you plan on renting a property here in BC, or using it as an investment property, you may be subject to a 25 per cent tax on rental income, which is typically taken off the monthly rent. There are possibilities for this amount to be reduced by claiming expenses related to the property, although every situation is unique. An experienced mortgage broker and tax accountant can help with the details.

Mortgages for Non-Residents

In terms of non-resident lending, only a major bank would be capable of granting the mortgage. Although some of these major banks will base the mortgage application on current rental income, the vast majority are looking for the borrower to be income-qualified. It is also important to note that the mortgage rate may be slightly increased depending on the lender to cover the additional risk of lending to a non-resident.

Looking at the specific program of one major bank, they will consider a maximum of one property only, and those eligible will be held to a maximum amortization of 25 years. In addition, properties located in the Greater Vancouver and Greater Toronto areas will have a loan-to-value ratio that is 65 per cent of the first $1,200,000 of the property lending value, and 50% of the value over $1,200,000. Properties, which fall outside of these categories, come in at 65% of the first $750,000 of the property lending value, and 50% over $750,000.

Working with Local Professionals

Non-residents of Canada can and should use every resource available to them here in BC for their new home. There are a number of qualified professionals who can help you find a property compatible with your resources, and to help you prepare all your paperwork so that once you have found what you’re looking, you can proceed with ease.

One major difference for the borrower is the fee charged by the broker in the US. For most “A lender” mortgages, Canadian mortgage brokers do not charge fees for setting up the mortgage. Especially if you are not local, it would be beneficial to consult a mortgage broker so they can start the process with you and discuss your options with different lending institutions. 

I just finished uploading this Condo for sale, 206 6168 LONDON ROAD, Steveston South, Richmond, BC

The Pier at London Landing: A unique waterfront development on the South shore of the Fraser river. Two buildings house 76 unique centerpiece homes featuring open concept floor plans, spacious living areas, entertainment style kitchens/dining areas, and many enjoy double garages and direct-access, semi-private elevators. Marvel at the spectacular river, farmland and mountain vistas from generous terraces and balconies with BBQ hook-ups and year-round climate comfort indoors thanks to centralized air conditioning and heating (Geo-exchange). Let our sales associates help you select from our collection of truly exceptional residences located on Steveston's prestigious waterfront, call today!

We are proud to announce that this May 7th, 2:00 PM to 4:00 PM we will be hosting an Open House at PH5 3255 Smith Ave in PANACASA in the Central Burnaby North neighborhood, Burnaby.



This is an opportunity to visit this excellent Condo for sale in beautiful Central Burnaby North.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Central Burnaby North Condo for sale.

As always please do not hesitate to give me a call at 604.644.1044 if I can answer any questions before the open house, or if you would like to book a private showing.

Alisa Sakamoto
REALTOR® RE/MAX WESTCOAST

I just finished uploading this House for sale, 3100 REGENT STREET, Steveston Village, Richmond, BC

This BRAND NEW 3037 SF 5 bdrm, 4 bath home in Steveston Village is another expectation-exceeding home by Penta Builders Group. The home sits on a large 5640 SF CORNER lot. The flex room on the main can be used as a 5th bdrm as it has direct access to a 3 piece bath. Thoughtful details include a grand entrance w/ 16' ceiling, mud room w/ seating area & cubicle storage, handsome concrete driveway, radiant heat, A/C, 8â shaker doors, engineered h/w floors, built in vacuum & sprinkler system. Kitchen features Jenn-Air s/s appl, quartz counters, pantry/spice kitchen & designer finishes. Cozy gas f/p in the living room & the dining room opens up to a sunny south facing backyard - perfect for entertaining! Quick stroll to Garry Point Park & the village. Donât miss this! OPEN HOUSE MAY 7/8 2-4PM.

I just sold this Condo at 421 4600 Westwater Drive, Steveston South, Richmond, BC Steveston South.

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