The provincial government announced new rules regulating contract assignments, effective May 16.

Real estate contracts are now required to include two terms: one that requires the seller's consent to assign the contract, and one that requires that any profit from an assignment goes to the original seller. Clients can instruct REALTORS® to omit or change these clauses.

The buyer's Realtor is also required to inform the seller if one, or both, of these clauses are removed from their offer. The seller's Realtor must also disclose if the proposed contract is assignable or not - including any conditions that would be applicable to the assignment.

Be aware, if you're a seller and a buyer requests you waive the assignment clause, they may be looking to re-sell your property before the contract completes. If you have questions, talk to your Realtor or legal advisor before you sign anything.

To protect yourself as a buyer in an assignment deal, make sure that: 

1. You work with a REALTOR®. Your REALTOR® will help protect your interests and bring knowledge of the provincial legislation that governs real estate transactions.
2. the original Contract of Purchase and Sale has the mandated assignment clause requiring the seller's approval before it can be assigned;
3. the original seller is aware of, and approves of, the assignment;
4. if there is profit from the assignment, the profit reverts back to the seller unless otherwise specified in the original Contract of Purchase and Sale;
5. the property is or was listed for sale;
6. the identity of every individual involved in the transaction has been verified;
7. all money already paid and owed is accounted for and dealt with in the assignment contract;
8. you understand the additional risk associated with paying the assignment fee before the original contract is finalized; and
9. you consult an accountant to understand the tax implications.

I just sold this Condo at 319 3133 Riverwalk Ave, Champlain Heights, Vancouver, BC Champlain Heights.

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I just sold this Townhouse at 47 6300 LONDON Road, Steveston South, Richmond, British Columbia Steveston South.

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I just finished uploading this Condo for sale, 1904 128 CORDOVA STREET, Downtown VW, Vancouver West, BC

WOODWARDS - Gastown's most iconic landmark building by Westbank - a masterpiece in design! Unique & Modern 646sf 1 bed w/ Juliette balcony & one of the BEST floorplans w/ SPECTACULAR VIEWS of the water & mountains! Live in style w/ sleek contemporary finishings: polished stone counters, H/W floors, exposed concrete ceilings, s/s appl, deluxe shower & soaker tub! Access to world class amenities at Club W: in/outdoor lounge, gym, media room, expansive rooftop deck w/ hot tub & 360 city views! Maint fee includes Gas, Concierge, heat & internet. More than a home Woodwards gives you the metropolitan lifestyle! Conveniently located w/ Nesters, London Drugs & TD bank downstairs. Steps to shopping, entertainment & restaurants! Tenanted til Feb 2017 - PERFECT for an investor! OPEN 2-4PM MAY 21/22

I just sold this Apartment at 103 8655 JONES ROAD, Brighouse South, Richmond, BC Brighouse South.

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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