Before diving into the world of Real Estate, it's important to have an understanding of the various documents involved.
Below are some video explanations of these documents
The British Columbia Real Estate Association (BCREA) has created these videos for REALTORS®
to share with their clients to help explain some of the key documents used in a real estate transaction.
The Disclosure of Representation in Trading Services Form
This form discloses to consumers the duties and obligations owed by the REALTOR® to the consumer, should the consumer decide to become a client
of that REALTOR®. It ensures that your agent always acts in your best interest.
The Disclosure of Risks to Unrepresented Parties Form
This form discloses to consumers the risks of being unrepresented in
a real estate transaction, and what information a REALTOR® can and
cannot provide to an unrepresented party to a real estate transaction.
The Contract of Purchase and Sale
Central to any transaction, the Contract of Purchase and Sale (CPS) outlines the terms and conditions on which a transaction takes place.
The Seller's Disclosure of Material Latent Defects Form
This form allows a seller and their REALTOR® to disclose any known material latent defects prior to buyers making an offer.
The Privacy Notice and Consent Form
This form explains how your personal information is collected, used and disclosed, as well as how I would protect your information during and after a real estate transaction.
The Property Disclosure Statement
This form is where sellers disclose facts about the condition of the property so that buyers can make an informed decision when considering purchasing the property.
Why Do REALTORS® Ask For Your Personal Information?
During a real estate transaction in BC, REALTORS® might ask for specific personal information to help prevent money laundering and the financing of terrorist activity. This video explains what information you might be asked for and how and where it is stored.
These videos are an overview of some of the documents involved in real estate.
The various required forms will be gone through in detail when discussing the various forms required in real estate.
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