Αποτελέσματα Αναζήτησης
4 Μαΐ 2021 · This Guideline explains how deposits must be treated when they are received in respect of any real estate services being provided, what to do when deposits need to be returned to a party to a trade in real estate, and how to minimize the risks associated with deposits.
This information explains what you need to know about paying and/or receiving deposits connected to a real estate purchase or sale.
Consolidated Regulations of British Columbia. This is an unofficial consolidation. B.C. Reg. 209/2021 (O.C. 484/2021), deposited July 19, 2021 and effective August 1, 2021, is made under the Real Estate Services Act, S.B.C. 2004, c. 42, s. 89.2. This is an unofficial consolidation provided for convenience only.
72.2 (1) Subject to subsection (2), if the compensation fund corporation receives a direction under section 72.1 [direction to pay to complete trade or prevent loss] to pay an amount, the compensation fund corporation must pay the amount to the person specified in the direction.
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.
In this case, a down payment of $10,000 was paid to the real estate agent by a purchaser who refused to complete his purchase. The vendor was forced to dispose of her house by exchanging it and some cash for a release of the vendor's indebtedness to a bank.
15. (1) An agent shall, on receipt pay into his trust account. (a) all money held for or received on behalf of a client or otherwise in respect of a real estate transaction; (b) money a part of which belongs to the client and is to be held on his behalf and part of which belongs to the agent.
