Practice area

Buying a home in British Columbia

An accepted offer is not a completed purchase. Between subject removal and the keys sits a sequence of searches, lender instructions, signatures and registrations, most of it running on other people's schedules. This page sets out what happens in that gap, what we need from you, and where it usually goes wrong.

Typically · you
Subject removal
The date your conditions come off and the deal becomes firm. Financing, inspection and strata document review all have to be done by now. Your contract sets this date, not us.
If it slips
The contract can collapse. If you are not ready, the extension has to be agreed in writing before the deadline passes rather than after.
Your contract sets these dates. Everything between them is our work: the searches, the lender's instructions, the signing, the registration.
Start your file
Set by law
Rescission period ends
The home buyer rescission period set by the Property Law Act, which runs from acceptance and lets a buyer back out of a residential purchase on payment of a fee. It applies whether or not anyone mentions it.
If it slips
This one does not slip. It runs from acceptance on a fixed basis and cannot be extended by agreement.
Your contract sets these dates. Everything between them is our work: the searches, the lender's instructions, the signing, the registration.
Start your file
Typically · you
Your file opens with us
We receive your contract, verify your identity, and check the completion, possession and adjustment dates against each other. The earlier this happens the more room there is to fix anything.
If it slips
Everything downstream compresses. A file that opens late is the most common reason a completion runs tight.
Your contract sets these dates. Everything between them is our work: the searches, the lender's instructions, the signing, the registration.
Start your file
Typically · us
Title search and strata documents ordered
We search title for what is registered against the property, and on a strata we order the Form B and the associated records. This is where anything unexpected surfaces.
If it slips
A charge nobody knew about, found late, is a much bigger problem than the same charge found early.
Your contract sets these dates. Everything between them is our work: the searches, the lender's instructions, the signing, the registration.
Start your file
Typically · your lender
Lender instructions received
Your lender sends us their mortgage instructions and we prepare the documents. They arrive on the lender's schedule rather than ours, so we chase them instead of waiting.
If it slips
This is the single most common cause of a late completion. We will tell you as soon as a date looks at risk rather than on the morning it fails.
Your contract sets these dates. Everything between them is our work: the searches, the lender's instructions, the signing, the registration.
Start your file
Typically · you
Document signing
You sign the transfer, the mortgage and the statement of adjustments, at our office, at yours, or remotely anywhere in the province. Bring identification.
If it slips
Signing has to happen with enough room to get documents where they need to be. Tell us early if you will be away.
Your contract sets these dates. Everything between them is our work: the searches, the lender's instructions, the signing, the registration.
Start your file
Typically · you
Funds to our trust account
Your balance of funds arrives by bank draft or wire. Never by email instruction, and never in response to a message that changes our banking details.
If it slips
Without cleared funds we cannot complete. This is a hard stop rather than a soft one.
Your contract sets these dates. Everything between them is our work: the searches, the lender's instructions, the signing, the registration.
Start your file
Typically · us
Completion
We register the transfer and the mortgage at the Land Title Office, the money is released to the seller's lawyer, and the property becomes yours.
If it slips
Registration and the release of funds happen in a set order. A late advance can push completion to the next business day, and your contract governs what that means for you.
Your contract sets these dates. Everything between them is our work: the searches, the lender's instructions, the signing, the registration.
Start your file
Typically · your realtor
Possession
The day you can physically move in and collect the keys. Frequently the day after completion rather than the same day.
If it slips
Possession is set by your contract. Confirm the key handover arrangement with your agent rather than assuming it.
Your contract sets these dates. Everything between them is our work: the searches, the lender's instructions, the signing, the registration.
Start your file

Set by lawStandard practice, typically

Select a milestone for what happens there, and what it costs if it slips.

General information based on standard practice in British Columbia. Your contract governs your actual dates. This is not legal advice and does not create a solicitor-client relationship.

Two house keys on a ring, resting on pale linen in bright daylight.

Who this is for

Buying a home

You have an accepted offer on a home in British Columbia, or you are close to one, and you need a lawyer to close it. It makes no difference whether you are buying with a mortgage or with cash, whether it is your first home or your fifth, or whether the property is a house, a townhouse, or a strata lot.

The work

What we do

01Open your file and check the completion, possession and adjustment dates in your contract against each other. These three dates are often confused, and they do different things.
02Order the title search, and for a strata, the Form B and the associated records that tell you what the strata corporation is carrying.
03Read title for what is registered against it: existing mortgages, easements, rights of way, statutory building schemes, liens, and anything else that survives the sale or has to be cleared before it.
04Receive your lender's mortgage instructions, check them against what you were told you were signing up for, and prepare the mortgage documents.
05Prepare the statement of adjustments, which divides property tax, strata fees and utilities between you and the seller according to who owns the property on which day.
06Sit down with you to sign, at our office, at yours, or remotely.
07Receive your balance of funds and your lender's advance into our trust account.
08Register the transfer and the mortgage at the Land Title Office, release the money to the seller's lawyer, and confirm you can collect the keys.

Your part

What we need from you

Gathering these early is the single biggest thing you can do to keep a file on schedule.

Two pieces of government-issued identificationOne has to carry your photograph. We are required to verify who you are before we can act, and we cannot register anything without it.
The contract of purchase and sale, with every addendumYour agent usually sends this straight to us. If you bought privately, send it yourself and include anything that amended it.
Your lender and your mortgage broker's contact detailsWe need these early. Instructions come from the lender on their own schedule, and knowing who to chase is the difference between a delay and a phone call.
How you want to hold title, if you are buying with someoneJoint tenancy and tenancy in common are not interchangeable. One passes your share automatically to the surviving owner, the other passes it under your will. We will explain both before you decide.
Fire insurance naming your lender, if you are financingNo lender advances money without it. This is a common cause of a completion slipping by a day.
Your balance of funds, before completion dayBy bank draft or wire, into our trust account. Never by e-transfer, and never in response to an email that changes our banking details. If you get one, phone us on a number you already have.

Risk

Watch for

The things that actually derail this kind of file, rather than the ones that sound alarming.

Lender instructions arriving late

The single most common reason a purchase runs tight. We chase them rather than waiting, and we will tell you as soon as we think a date is at risk instead of on the morning it fails.

Strata documents that arrive after you have removed subjects

A depreciation report, a pending special levy or a rental restriction can change what the property is worth to you. The time to read these is before subjects come off, not after.

Property transfer tax exemptions you may or may not qualify for

There are exemptions for some first-time buyers and some newly built homes, each with its own conditions. Whether one applies is worth settling early, because it changes what you need to bring on completion.

Land Owner Transparency Registry filings

If you are buying through a corporation, a partnership, or a trust rather than in your own name, a transparency filing is required. It is not optional and it has to be dealt with as part of the transaction.

Questions

Common questions

Do I need a lawyer, or can I use a notary?

For a straightforward resale purchase with clean title, either can act. A lawyer is the sensible choice when there is anything unusual: a dispute over title, an unclear or clouded title, a corporate party, independent legal advice, or anything with the potential to end up in litigation. If you are not sure which describes your deal, ask us and we will tell you honestly.

When do I actually sign?

Usually about a week before completion, once your lender's instructions have arrived and we have prepared the documents. We will give you a firm appointment rather than a window, and we can come to you or sign remotely anywhere in the province.

What is the difference between completion, possession and adjustment?

Completion is the day title transfers and money changes hands. Possession is the day you can physically move in, which is often the next day. Adjustment is the date used to divide the running costs of the property between you and the seller. Your contract sets all three, and they are frequently not the same day.

What happens if my mortgage funds arrive late on completion day?

Registration and the release of funds happen in a specific order, and a late advance can push completion to the following business day. Your contract governs what that means for you, which is why we flag a date that looks tight well before it arrives rather than on the day.

Talk to us about your file

We quote your file in writing before we start work, so the number on your statement of adjustments is the number you agreed to.

Start your file Send us your file: Purchase