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So, you have decided that you are ready to purchase a property. But where do you start? There are so many factors that will inform your decision such as how much money you are able to spend, what neighbourhood you want to buy in, and who you should hire to facilitate the transaction. This guide will walk you through the buying process and provide you with resources you can use to help you make an informed decision that is best for you.
To make the information easier to understand, this guide will follow the natural progression of a real estate transaction beginning with helping you determine if you are ready to purchase and ending with information on making an offer, dealing with deposits and the final transfer of the property title. It will include resources that you can take with you as you begin your property search, and provide contact information for the BCFSA Practice Standards Advisors who can answer questions specific to your situation, should you have any concerns.
If a concern develops for a consumer as a result of real estate services provided by a real estate licensee, the following steps should be considered:
- Discuss the concern with the real estate licensee.
- If the matter is still not resolved, discuss the concern with the managing broker in charge of the brokerage. Most concerns are settled by these two means.
- If satisfaction is still not forthcoming, the concern can be raised with a BCFSA Practice Standards Advisor who can assist with information or provide guidance on filing a complaint.
BCFSA can investigate any complaint about the conduct of a real estate licensee in their handling of your real estate transaction. BCFSA is authorized to discipline a real estate licensee found guilty of professional misconduct.
BCFSA does not have the authority to require a real estate licensee to perform under the terms of a contract, nor does BCFSA have any jurisdiction over sellers who have not performed under the contract. BCFSA cannot award damages to a complainant from a real estate licensee. Those matters may require legal action.