The Sellers sign a contract with their listing agents brokerage to pay the commissions for the sale upon closing.
What is an excellent real estate investment in Invermere?
More significant properties that allow short term rentals that are in a desirable area within walking distance of the lake or with beautiful views
You will need to have your offer to purchase accepted by the bank selling the foreclosure, and then you will need to have the court approve the offer. There can be competing offers in the courtroom that the judge can consider. It is recommended you contact a realtor to get all the instructions and guidance throughout this process.
What type of rental you want to buy will depend on the action to take. If a property already has a tenant, you can purchase and keep the tenant. If you want a short-term rental property, you will need to make sure the bylaws allow for this and any restrictions there may be.
Depending on the region and your use, there could be restrictions. All BC real estate are taxed with a Property Title Transfer Tax (PTT), which is 1% on the first $200,000 and 2% up to $2million, 3% on balance if higher. It is recommended that you ask a local realtor if any bylaws or restrictions for buyers in that region.