About Keith Broad Expertise I can answer questions on purchasing real estate; from first-time buyers to experienced real estate investors. I can answer questions on inspecting homes/properties for structural, plumbing, electrical, roofing, problems.
Experience I am a licensed realtor in British Columbia Canada. I owned and operated a construction/renovations company for 14 years. I inspected homes for potential buyers for 3 years. I am a qualified drafstman, carpenter, project manager, site supervisor.
Question Hi Keith, How easy is it to purchase property on Vancouver Island, from Nanaimo & southwards. Price of property, fees, etc....
Regards, Kevin Redding.
Answer Hi, Kevin;
I'm not sure what you mean by "how easy" is it to purchase property on Vancouver Island. Are you a resident of Canada? If the answer is YES, then all you need is a bunch of cash, or a little cash and a mortgage pre-approval. If the answer is NO, then there are a whole lot of issues to take into consideration for a non-resident of Canada to purchase Canadian Real Estate, mainly tax-related issues. Non Canadians can purchase real estate here, but there are many tax considerations to be aware of.
If you are wondering how to locate listings on Vancouver Island goto http://www.mls.ca/map.aspx?AreaID=245 for properties that are currently for sale on the Island, or contact a realtor who lives in the town/area in which you are interested in purchasing and ask him/her to email you all current listings.
Prices vary widely depending on location, size of property, in town or rural, etc, etc, etc. Fees also vary but generally, for a listing on Multiple Listing Service, the Seller pays the listing agent 7% of the first $100,000 plus 2.5% of the remainder of the purchase price. Like I said this can vary from agent to agent, but in any event the commission is paid by the Seller from the proceeds of the sale. It does not cost you to have a realtor work on your behalf to find the right property for you, and negotiate the best price, write and present the offer, etc, etc. The realtor working for you is also paid out of the proceeds of the sale, and not separately by the Buyer.
I hope this helps.
Keith
