A practical seller checklist for South Surrey, White Rock, and the Fraser Valley

Getting ready to sell can feel like a long list of decisions: What paperwork do I need? Should I fix anything? What should I put away before photos? A little preparation can make the process easier and help your REALTOR® present your home accurately to buyers.

You don’t need to do everything at once. Use this checklist to gather information, make a plan, and prepare your home before it goes on the market.

1. Gather your home and ownership information

Start by collecting the information your REALTOR® may need to prepare the listing and answer buyer questions.

• ☐ Confirm the full property address and the names of everyone on title.

• ☐ Find your property tax notice and any recent assessment information.

• ☐ Make a list of the home’s features: bedrooms, bathrooms, parking, storage, appliances, and outdoor spaces.

• ☐ Note what you plan to include in the sale and anything you intend to take with you.

• ☐ Gather receipts, warranties, manuals, and dates for major repairs or renovations.

• ☐ Find permits, approvals, or other records for work such as additions, finished spaces, plumbing, or electrical upgrades, if available.

• ☐ Make a list of improvements and approximate dates—for example, a new roof, windows, furnace, hot water tank, or kitchen.

• ☐ Make a note of any known issues, past water leaks, repairs, or insurance claims so you can discuss them with your REALTOR®.

Your REALTOR® can help identify which information is useful for the listing and what may require follow-up. In BC, sellers have disclosure responsibilities for known material latent defects. Ask your REALTOR® or a lawyer if you’re unsure how a particular issue should be handled.

2. If your home is part of a strata, gather strata information

For a condo or townhouse, buyers often have questions about the strata corporation, monthly fees, bylaws, parking, storage, and upcoming costs.

• ☐ Find your current strata fee amount.

• ☐ Gather the current bylaws and rules, if you have them.

• ☐ Locate recent strata meeting minutes and notices.

• ☐ Make a note of any special levies, planned projects, or building issues you know about.

• ☐ Confirm the parking stall and storage locker assigned to your home.

• ☐ Ask your REALTOR® or strata manager which documents need to be ordered and how long they may take.

Some strata documents are ordered as part of the transaction. BCFSA identifies documents such as the Information Certificate (Form B), Certificate of Payment (Form F), and strata corporation insurance information among the documents involved in completing a strata sale.

3. Decide on your selling and moving plans

Before choosing a listing date, think about what a successful sale looks like for you.

• ☐ Choose your preferred timing for listing, completion, and moving.

• ☐ Consider where you’ll go next and whether you need to buy before or after selling.

• ☐ List the terms that matter to you, such as a preferred completion date or extra time to move.

• ☐ Ask for an estimate of likely selling costs and net proceeds.

• ☐ Review recent comparable sales and current competition with your REALTOR®.

• ☐ Agree on a pricing and launch strategy based on your home, location, and current market conditions.

4. Prepare the home for photos and showings

Focus first on the things buyers will notice: cleanliness, light, space, maintenance, and the first impression from the street.

• ☐ Walk through each room and make a list of visible repairs.

• ☐ Fix small items such as loose handles, leaky taps, squeaky doors, or damaged trim.

• ☐ Declutter counters, entryways, closets, and storage areas.

• ☐ Deep-clean kitchens, bathrooms, floors, windows, and light fixtures.

• ☐ Replace burned-out bulbs and open window coverings to let in natural light.

• ☐ Touch up scuffed paint where it will make a visible difference.

• ☐ Tidy the yard, walkway, front entrance, patio, or balcony.

• ☐ Arrange furniture to make rooms feel open and easy to walk through.

• ☐ Put away valuables, medications, personal documents, and fragile items before showings.

• ☐ Make a plan for pets, parking, keys, and showing access.

You don’t necessarily need a major renovation. Before spending heavily, discuss which improvements are likely to matter to buyers for your home and price range.

5. Get ready to create the listing

Once the home is prepared, your REALTOR® can confirm the details and coordinate the marketing.

• ☐ Review the listing information for accuracy, including room details, features, and inclusions.

• ☐ Decide on a photography date and prepare the home for pictures.

• ☐ Review the photos and listing description before they’re published.

• ☐ Confirm how buyers and their agents will request showings.

• ☐ Choose whether you’d like to hold an open house and discuss possible dates.

• ☐ Set a time to review showing activity and buyer feedback after the listing launches.

Your short “start here” list

If the full checklist feels like a lot, begin with these five steps:

1. ☐ Gather renovation records, warranties, and permits you have.

2. ☐ Write down your preferred timing and moving plans.

3. ☐ Make a list of known repairs or issues to discuss.

4. ☐ Declutter and clean the areas buyers will see first.

5. ☐ Book a pre-listing conversation to review price, preparation, and next steps.

A well-prepared sale starts with a clear plan. If you’re thinking about selling in South Surrey, White Rock, or the Fraser Valley, I can help you review your home, prioritize preparation, and map out a listing strategy around your timing and goals.

Ilona Crane REALTOR®
Royal LePage - Wolstencroft
South Surrey & White Rock Real Estate
604-377-9209 · soldbyilona@gmail.com · soldbyilona.com

This article provides general information only. It is not legal, tax, or financial advice. Requirements and documents can vary by property and transaction.

Selling a home is a big decision. Before you choose a list price or book photos, a little preparation can help you make clear decisions and avoid spending money where it may not help.

Start with your priorities

Think about your ideal timing, where you plan to go next, and what matters most: certainty, timing, convenience, or achieving a particular result. These priorities shape the right plan for your home.

Understand your local competition

A useful pricing discussion looks beyond the city-wide average. Recent comparable sales, homes currently competing for buyers, property condition, location, layout, and market pace all matter. South Surrey and White Rock contain many different micro-markets, so a broad estimate may not reflect your street or property type.

Prepare the home where buyers notice

Begin with a tidy, well-lit home and a clear path through each room. Take care of simple maintenance, reduce visual clutter, and make the entrance welcoming. Before investing in renovations, compare the likely cost with what buyers in your price range actually value.

Gather useful documents

Collect any available floor plans, renovation and appliance records, warranties, utility information, and property documents. If you own a strata home, gather the records you have and ask your REALTOR® what additional documents may be relevant for a sale.

Plan the launch

Talk through photography, showing access, timing, marketing, and how you will review interest after the listing goes live. A clear plan helps you know what to expect and when you may need to make decisions.

Get a property-specific starting point

If you are considering selling in South Surrey or White Rock, I can prepare a complimentary home value review based on your property, recent comparable sales, and current competing listings. It is a conversation to help you understand your options—there is no obligation to list.

Request your home value review through the Home Evaluation page, or contact me directly.

Ilona Crane REALTOR® | Royal LePage Wolstencroft | 604-377-9209 | soldbyilona@gmail.com | soldbyilona.com

Buying your first home in British Columbia is exciting, but it can also feel overwhelming. Between mortgage approval, the down payment, the deposit, closing costs, inspections, and government programs, there is a lot to understand before you begin viewing properties.

This guide explains the main programs and practical steps that can help first-time buyers prepare for a purchase in South Surrey, White Rock, Langley, Cloverdale, and communities throughout the Lower Mainland.

What Counts as a First-Time Home Buyer?

The definition of a first-time buyer is not identical for every program. Some programs consider whether you have ever owned a principal residence anywhere in the world, while others use a specific look-back period. A spouse or common-law partner’s ownership history may also affect eligibility.

Do not assume that qualifying for one program automatically means you qualify for every other program. Confirm the rules separately with your mortgage professional, lawyer or notary, and tax adviser.

1. BC First-Time Home Buyers’ Property Transfer Tax Program

Qualified buyers may reduce the Property Transfer Tax payable when their purchase is registered. For registrations on or after April 1, 2024, the home must generally:

• Be used as your principal residence

• Have a fair market value of $835,000 or less for the regular exemption, with a partial exemption potentially available from $835,000 to $860,000

• Be 0.5 hectares (1.24 acres) or smaller

• Contain only residential improvements

The exemption covers the Property Transfer Tax calculated on the first $500,000 for a qualifying purchase. This means a buyer purchasing above $500,000 may still owe some tax even when eligible.

Buyers must meet the program’s citizenship or permanent-residency, BC residency, and previous-home-ownership requirements. For an existing home, the buyer generally must move in within 92 days of registration and continue occupying it as a principal residence during the required first-year period.

Check the official BC First-Time Home Buyers’ Program

2. First Home Savings Account

The First Home Savings Account, or FHSA, lets eligible first-time buyers save for a qualifying home. Contributions are generally tax-deductible, and qualifying withdrawals—including investment growth—can be tax-free.

• Annual participation room begins at $8,000 in the year you open your first FHSA

• The lifetime contribution limit is $40,000

• Unused participation room may be carried forward, subject to the program rules

FHSA room only begins after the account is opened, so buyers who expect to purchase in future years may want to discuss opening one with a qualified financial professional even if they are not ready to buy today.

Learn about FHSAs from the Canada Revenue Agency

3. Home Buyers’ Plan

The federal Home Buyers’ Plan may allow an eligible buyer to withdraw up to $60,000 from an RRSP to buy or build a qualifying home. Unlike a qualifying FHSA withdrawal, money withdrawn under the Home Buyers’ Plan must generally be repaid to the RRSP over a period of up to 15 years.

Eligible buyers can use both the FHSA and the Home Buyers’ Plan for the same qualifying home, provided all requirements are satisfied. Special timing rules apply, including rules involving recent RRSP contributions, so speak with your financial or tax adviser before withdrawing funds.

Review the Home Buyers’ Plan

4. Federal Home Buyers’ Amount

Eligible purchasers may be able to claim the federal Home Buyers’ Amount on their income tax return. This is a non-refundable tax credit that may reduce federal income tax owing by up to $1,500. If two eligible people purchase together, the claim may be shared, but the combined claim cannot exceed the program limit.

Review the federal Home Buyers’ Amount

How Much Down Payment Do You Need?

The federal minimum down payment depends on the purchase price:

• $500,000 or less: at least 5% of the purchase price

• More than $500,000 but less than $1.5 million: 5% on the first $500,000, plus 10% on the portion above $500,000

• $1.5 million or more: at least 20% of the purchase price

For example, the minimum down payment on an $800,000 home is $55,000: $25,000 on the first $500,000, plus $30,000 on the remaining $300,000.

A down payment below 20% normally requires mortgage loan insurance. The insurance protects the lender, and its premium is generally added to the mortgage balance.

Review federal down-payment guidance

Your Deposit Is Not the Same as Your Down Payment

The deposit is money delivered after an accepted offer according to the contract terms. It shows the buyer’s commitment to complete the purchase and normally forms part of the total down payment at completion.

In BC, there is no single mandatory deposit amount for every transaction. The amount, due date, and holder of the funds are written into the Contract of Purchase and Sale. Buyers need to know where their deposit money will come from and how quickly it can be transferred before writing an offer.

Get Fully Pre-Approved Before Shopping

A quick online estimate is not the same as a detailed mortgage review. Before viewing homes seriously, speak with a mortgage professional and provide the requested income, debt, employment, credit, and down-payment documents.

A strong pre-approval helps establish a realistic price range, but final financing still depends on the lender approving both the buyer and the specific property. Condos with insurance concerns, unusual properties, leaseholds, rural homes, and properties with major condition issues may require additional review.

Budget for Closing Costs

Your down payment is only one part of the cash required. Buyers should also plan for expenses such as:

• Property Transfer Tax, if no full exemption applies

• Legal or notary fees and title insurance

• Home inspection and specialized inspections when needed

• Property tax, utility, and strata-fee adjustments

• Moving costs and immediate repairs

• GST when applicable, particularly with some new-construction purchases

As a broad planning guideline, the Financial Consumer Agency of Canada recommends preparing for upfront or closing costs of approximately 1.5% to 4% of the purchase price. Your actual costs will depend on the property and transaction.

A Practical First-Time Buyer Roadmap

1. Review your income, debts, credit, savings, and monthly comfort level.

2. Speak with a mortgage professional and obtain a detailed pre-approval.

3. Identify your down payment, deposit funds, and closing-cost reserve.

4. Choose neighbourhoods and property types that match your priorities.

5. Tour homes and compare recent sales with your REALTOR®.

6. Prepare an offer with appropriate price, dates, terms, and conditions.

7. Complete financing, inspection, strata-document, insurance, and legal due diligence.

8. Remove conditions only when you are satisfied and professionally advised.

9. Arrange the remaining funds and sign completion documents with your lawyer or notary.

10. Complete the purchase and receive possession according to the contract.

Buying Your First Home in the Lower Mainland?

The right preparation can make your first purchase more manageable and protect you from expensive surprises. I help first-time buyers understand each step, compare homes, review neighbourhood considerations, prepare offers, and coordinate with mortgage and legal professionals.

If you are planning to buy in South Surrey, White Rock, Langley, Cloverdale, Surrey, or elsewhere in the Lower Mainland, I would be happy to help you build a clear buying plan.

Ilona Crane, REALTOR®
Royal LePage Wolstencroft Realty
Cell: 604-377-9209
Email: soldbyilona@gmail.com
Website: soldbyilona.com

This article provides general information only and is not mortgage, legal, tax, or accounting advice. Program rules, limits, and eligibility requirements can change. Confirm current information and your personal eligibility with the appropriate government department and qualified mortgage, legal, and tax professionals before making financial or contractual decisions.

When buying a home in British Columbia, the deposit is one of the most important parts of the offer. It shows the seller that the buyer is committed to completing the purchase—but it can also place a significant amount of the buyer’s money at risk.

Before writing an offer, buyers should understand how much deposit may be expected, when it is due, who holds it, and what can happen if the transaction does not complete.

What Is a Real Estate Deposit?

A deposit is money the buyer agrees to provide under the Contract of Purchase and Sale. It is evidence of the buyer’s commitment to the transaction and may provide the seller with financial protection if the buyer later breaches a firm contract.

A deposit is not legally required to create every binding real estate contract, but it is customary in most BC resale transactions. The amount, timing, payment method, and deposit holder should be clearly written into the contract.

How Much Is a Typical Deposit in BC?

There is no single deposit amount required by BC law. According to BC Financial Services Authority consumer guidance, five to 10 per cent of the purchase price is typical, but any amount may be negotiated between the buyer and seller.

The appropriate amount can depend on:

• The purchase price

• Local market conditions and competing offers

• The type of property

• The seller’s expectations

• The buyer’s available funds and risk tolerance

• The terms and timing of the offer

A larger deposit may make an offer appear stronger, but it also puts more of the buyer’s money at risk if a dispute or default occurs. Buyers should never offer a deposit they cannot deliver by the contractual deadline.

Read BCFSA’s Consumer Guide to Deposits

When Is the Deposit Due?

The contract determines when the deposit must be paid. Common arrangements include:

• With the offer

• Immediately or within a stated period after acceptance

• After the buyer removes their subject conditions

Do not assume the deposit is automatically due after subject removal. Read the exact wording of the contract. A deadline described as “within 24 hours” may operate differently from one described using business days or a specific date and time.

The buyer should arrange access to the funds before making the offer. Transfers between banks, investment withdrawals, gifted funds, bank drafts, and wire transfers can take time.

Who Holds the Deposit?

In many BC transactions, the deposit is placed into a real estate brokerage’s trust account. The brokerage holds the money as a stakeholder—a neutral holder rather than as money belonging solely to the buyer or seller.

BCFSA recommends ensuring that the deposit is held in trust and requesting a receipt. A real estate professional cannot personally hold the buyer’s deposit. If the contract names a lawyer, notary, developer, seller, or another party as the holder, buyers should obtain appropriate advice about the arrangement and risks.

Does the Deposit Form Part of the Down Payment?

Yes. If the purchase completes, the deposit is credited toward the buyer’s total required funds. For example, if a buyer needs a $100,000 down payment and has already paid a $40,000 deposit, the deposit normally forms part of that $100,000. The buyer would arrange the remaining down payment and closing funds through their lawyer or notary.

The deposit and down payment are related, but they are not the same:

• Deposit: paid according to the offer terms as security for the transaction

• Down payment: the total portion of the purchase price that is not financed by the mortgage

What Happens to the Deposit When Subjects Are Not Removed?

If the contract contains subject conditions for the buyer and the buyer does not remove them by the deadline, the transaction may not proceed. However, a brokerage holding the deposit as stakeholder generally cannot simply return it based only on one party’s request.

Except in situations covered by the Home Buyer Rescission Period rules, both buyer and seller will commonly need to sign a written release directing the brokerage how to handle the deposit. If the parties disagree, the brokerage may have to continue holding the money while the parties obtain legal advice or a court determines entitlement.

This is one reason buyers must act honestly, reasonably, and in good faith when working to satisfy subject conditions. The exact wording of each condition matters.

Can a Buyer Lose the Deposit?

Yes. Once a contract is firm, a buyer who fails to complete may be in breach of contract and could risk losing the deposit. The seller may also seek additional damages if the seller’s losses exceed the deposit—for example, if the property later sells for less and the seller incurs added carrying or legal costs.

A financing problem, change in personal circumstances, relationship breakdown, or buyer’s remorse does not automatically release a buyer from a firm contract. Buyers should remove financing and other conditions only after completing appropriate due diligence and receiving the necessary professional advice.

Whether a seller is legally entitled to a deposit depends on the contract and circumstances. If a transaction is at risk of collapsing, both parties should promptly obtain independent legal advice.

BC Home Buyer Rescission Period

For many residential purchases in BC, buyers have a statutory three-business-day rescission period after an offer is accepted. The right generally cannot be waived, although certain property types and transactions are exempt.

A buyer who properly exercises this right must notify the seller in writing before the deadline and pay a rescission fee equal to 0.25% of the purchase price. On a $1,000,000 purchase, the fee would be $2,500.

If a brokerage is holding a deposit, the rescission fee is paid to the seller from the deposit and the remaining amount is returned to the buyer. The rescission period is separate from any subject conditions written into the contract.

Review BCFSA’s Home Buyer Rescission Period information

What About Deposits on Presale Homes?

Presale contracts commonly require an initial deposit followed by one or more additional deposits on a schedule. These deposits can be substantial and the contract may include different cancellation, assignment, financing, and completion provisions from a resale purchase.

BC purchasers of qualifying development units generally receive a seven-day cancellation right under the Real Estate Development Marketing Act after the later of signing the purchase agreement and acknowledging receipt of the disclosure statement. This is different from the resale Home Buyer Rescission Period.

Buyers should have a presale contract and disclosure statement reviewed by an experienced real estate lawyer before the cancellation deadline expires.

Deposit Checklist for BC Buyers

• Confirm the exact deposit amount before making the offer

• Know the due date, time, payment method, and named deposit holder

• Make sure the funds are liquid and transferable

• Ask whether your bank has transfer or withdrawal limits

• Keep proof of payment and request a receipt

• Understand every subject condition and deadline

• Do not remove subjects until your due diligence is complete

• Obtain legal advice immediately if the transaction may not complete

Buying a Home in South Surrey, White Rock, or Langley?

I help buyers understand the offer process, plan deposit timing, review important dates and conditions, and coordinate with mortgage and legal professionals. If you are preparing to buy in South Surrey, White Rock, Langley, Cloverdale, Surrey, or elsewhere in the Lower Mainland, I would be happy to help you create a clear purchasing plan.

Ilona Crane, REALTOR®
Royal LePage Wolstencroft Realty
Cell: 604-377-9209
Email: soldbyilona@gmail.com
Website: soldbyilona.com

This article provides general information only and is not legal or financial advice. Deposit rights and obligations depend on the wording of the contract and the specific circumstances. Buyers and sellers should obtain independent legal advice when a deposit dispute, default, rescission, or collapsing transaction may arise.

Buying a home in British Columbia involves more than just your down payment and mortgage. One of the largest closing costs buyers may need to budget for is Property Transfer Tax, commonly called PTT.

Property Transfer Tax is generally payable when you acquire an interest in property registered at the BC Land Title Office. The amount is normally calculated using the property's fair market value. https://www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax

How Property Transfer Tax Is Calculated in BC

BC’s general Property Transfer Tax rates are:

• 1% on the first $200,000 of fair market value

• 2% on the portion over $200,000 and up to $2,000,000

• 3% on the portion over $2,000,000

• An additional 2% on the residential portion over $3,000,000

The tax is usually based on fair market value at the time the transfer is registered, which is normally the purchase price in an open-market sale.

Property Transfer Tax Examples

$650,000 home: $2,000 on the first $200,000, plus $9,000 on the remaining $450,000. Total PTT: $11,000.

$1,000,000 home: $2,000 on the first $200,000, plus $16,000 on the remaining $800,000. Total PTT: $18,000.

$1,500,000 home: $2,000 on the first $200,000, plus $26,000 on the remaining $1,300,000. Total PTT: $28,000.

These examples assume no exemption applies.

First-Time Home Buyers’ Program

Qualified first-time buyers may receive a full or partial exemption. For registrations on or after April 1, 2024, the property must generally:

• Be used as the buyer’s principal residence

• Have a fair market value of $835,000 or less for the regular exemption, with a partial exemption potentially available from $835,000 to $860,000

• Be 0.5 hectares (1.24 acres) or smaller

• Contain only residential improvements

The buyer must also meet the program’s citizenship or permanent-residency, residency, and previous-home-ownership requirements. For qualifying purchases above $500,000 and up to $835,000, the exemption applies to the tax calculated on the first $500,000 rather than eliminating all PTT. Your lawyer or notary can confirm the exact amount.

To keep the exemption, buyers generally need to move into an existing home within 92 days of registration and occupy it as their principal residence through the required first-year period.

Review the BC First-Time Home Buyers’ Program

Newly Built Home Exemption

Qualifying buyers of a newly built principal residence may also receive a Property Transfer Tax exemption—even if they have owned a home before. For registrations on or after April 1, 2024, a full exemption may be available when the fair market value is $1,100,000 or less, with a partial exemption available for qualifying homes valued above $1,100,000 and below $1,150,000.

The home must meet the provincial definition of a newly built home, be used as the buyer’s principal residence, and satisfy the program’s other eligibility and occupancy requirements.

Review the BC Newly Built Home Exemption

Is Property Transfer Tax the Same as GST?

No. Property Transfer Tax is a provincial land-registration tax. GST is a federal tax that may apply to new construction, substantially renovated homes, and certain other real estate transactions. A buyer may have to pay both, so ask your lawyer, notary, and accountant to review the property and transaction before subject removal.

Additional Tax for Foreign Buyers

Foreign nationals, foreign corporations, and taxable trustees may also be subject to an additional Property Transfer Tax on their proportionate share of residential property in specified BC regions. The additional rate is currently 20% in areas that include Metro Vancouver and the Fraser Valley. Exemptions are limited, so professional advice should be obtained early.

When Is Property Transfer Tax Paid?

PTT is generally filed and paid when the property transfer is registered at the Land Title Office. Your lawyer or notary normally prepares the return, claims any eligible exemption, and includes the amount in the funds required for completion.

Budget for PTT Before Making an Offer

Property Transfer Tax can add thousands of dollars to the cash needed at completion and normally cannot be included in the mortgage. Before writing an offer, ask for a closing-cost estimate that considers PTT, legal fees, adjustments, inspection costs, insurance, moving expenses, and any applicable GST.

Buying a Home in South Surrey, White Rock, or Langley?

I help buyers understand the purchase process, compare properties, plan important conditions, and connect with qualified legal and financial professionals. If you are preparing to buy in South Surrey, White Rock, Langley, Cloverdale, or elsewhere in the Lower Mainland, contact me for practical, local guidance.

Ilona Crane, REALTOR®
Royal LePage Wolstencroft Realty
Cell: 604-377-9209
Email: soldbyilona@gmail.com

This article is for general information only and is not legal, tax, or accounting advice. Property Transfer Tax rules, thresholds, and eligibility requirements can change. Confirm your circumstances and current amounts with the Province of British Columbia and a qualified lawyer, notary, or tax professional before relying on this information.