Buying and selling property

Buying or selling a home is probably one of the largest financial transactions you’ll ever make. Asking the right questions and getting the information you need helps to protect you as a consumer and achieve a good result for you and your family.

Learn more on this website:

• Tips on buying and selling a Home: It’s important to be well-prepared before purchasing or selling a home or investment property. Learn more about consumer protection, the New Home Warranty, the Property Transfer Tax, and other resources for buyers and sellers.
• Pre-sale Contracts: Residential units such as condominiums and townhouses are commonly "pre-sold" by developers while under construction. It is important that prospective purchasers thinking about entering into pre-sale contracts appreciate the risks associated with them.
• Home inspectors: B.C. has mandatory licensing for home inspectors. Learn more about the role of a home inspector when purchasing a home.
• Long-term residential leases: some residential properties in B.C. are long term leaseholds (leased housing) that can be bought and sold to the end of a contract. While commercial leaseholds are very common, residential leaseholds are not. Long-term residential leaseholds are not governed by the Residential Tenancy Act or the Strata Property Act and prospective purchasers should be aware of what that means.
• Reconstruction loans (program ended in 2009): this program had provided financial assistance to eligible B.C. homeowners to repair damage caused by faulty construction of the building envelope. The program ended in 2009.

The content on this webpage is periodically reviewed and updated by the Province of British Columbia as per the date noted: January 10, 2019.

More topics

Information on buying a home

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• The Real Estate Council of BC offers useful information on Buying a Home in British Columbia
• The BC Branch of the Canadian Bar Association offers useful information including: Buying a Condo and Buying a Home as well as Mortgages and Financing a House Purchase
• The federal government provides financial assistance to buyers through tax credits and exemptions (e.g. the First Time Home Buyer’s Tax Credit, and the Home Buyers’ Plan)
• The federal government provides mortgage loan insurance through CMHC.
• CMHC also offers the "Home Buying Step-by-Step Guide" with information for a wise home buying decision. Also see CMHC's Condominium Buyer's Guide.

Information on selling a home

• The Real Estate Council of BC offers useful information on Selling a Home in British Columbia
• Selling Your Home, helpful information from the BC Branch of the Canadian Bar Association
• The federal government provides a capital gains tax exemption for many owners selling their primary home (principal residence).