Real Estate FAQ

How much deposit is required when buying a home in BC?

In most cases, a deposit of 5 percent of the purchase price is required within 24 hours of an accepted offer. Deposits are payable by bank draft or wire transfer to Royal LePage Sterling Realty in Trust and form part of your total down payment.

A strong, properly structured offer is critical in competitive markets across the Tri Cities.

How much down payment is required in Canada?

Current minimum down payment requirements are:

  • 5 percent on the first 500,000
  • 10 percent on the portion between 500,000 and 1,500,000
  • 20 percent required above 1,500,000

Luxury properties in Westwood Plateau, Anmore, Belcarra and waterfront Port Moody typically require a minimum of 20 percent.

Lending guidelines evolve regularly. Always confirm details with your mortgage professional.

What is a subject period?

Subject periods are typically 5 to 10 business days. During this time buyers complete financing approval, home inspection, strata document review and other due diligence requirements.

In competitive conditions, subject free offers may occur. Strategic guidance ensures buyers remain protected while remaining competitive.

What is the difference between completion and possession?

Completion is the legal transfer of ownership when funds are exchanged.Possession is typically two days later and is when keys are released.

Prior to possession buyers should:

  • Arrange home insurance
  • Set up BC Hydro
  • Set up Fortis
  • Schedule internet and cable installation
  • Forward mail with Canada Post

Preparation ensures a smooth transition.

What first time buyer programs are available in 2026?

Programs may include:

  • First Home Savings Account FHSA
  • RRSP Home Buyers Plan
  • Property Transfer Tax exemptions
  • GST rebates on qualifying new construction

Eligibility requirements and thresholds change. Buyers should confirm all information with their lender, accountant and legal professional.

Selling Your Home in Coquitlam, Port Moody or Port Coquitlam

How do you determine my home’s value?

A comprehensive Comparative Market Analysis is prepared using recent sales typically within a 0.25 to 3 kilometre radius, depending on property type, neighbourhood and current market conditions.

Detached homes in Central Coquitlam or Glenayre are evaluated within tighter geographic boundaries to maintain precision.

Condominiums in Suter Brook, Newport Village or Coquitlam Centre are first compared within the same building or complex.

Townhomes in Burke Mountain, Riverwood or Citadel Heights are analyzed against recent complex sales and active competing inventory.

Accurate pricing always requires an in person evaluation to properly assess condition, renovations, layout, lot characteristics and overall market positioning.

How are luxury homes priced in Westwood Plateau, Anmore or Belcarra?

Luxury pricing requires a highly strategic and analytical approach.

For properties above 3,000,000, including estate homes in Westwood Plateau, Central Coquitlam, Harbour Chines, Barber Street, Ioco, waterfront residences along Alderside Road, acreages in Anmore, and ocean view or ocean front properties in Belcarra, a deeper valuation process is essential.

Key considerations include:

  • Lot size, frontage and topography
  • View exposure and long term protection
  • Privacy and surrounding estate quality
  • Architectural design and custom construction standards
  • Renovation quality and build specifications
  • Off market and private sales data
  • Competing executive inventory across Greater Vancouver

Luxury properties cannot be priced using basic price per square foot calculations. Strategic positioning, buyer psychology and targeted exposure play a significant role in protecting value and maximizing sale price.

How long does it take to sell a home in the Tri Cities?

Market time depends on pricing strategy, property type and overall inventory levels.

Well positioned homes in Coquitlam, Port Moody and Port Coquitlam can generate strong early activity. Overpriced homes typically experience extended days on market and price reductions.

Absorption rate and current demand are reviewed prior to listing to establish realistic expectations.

What are the costs of selling a home in BC?

Typical seller costs may include:

  • Real estate commission
  • Legal or notary fees
  • Mortgage discharge penalties
  • Property tax adjustments• Moving expenses

A detailed net proceeds estimate is provided prior to listing so sellers understand the full financial picture.

Preparing Your Home for Sale in Coquitlam, Port Moody and Port Coquitlam

How should I prepare my home before listing?

Preparation directly impacts sale price, buyer perception and time on market. In the Tri Cities, buyers expect clean, well maintained and move in ready homes.

Strategic preparation prior to launch increases competitiveness and strengthens negotiation position.

1. Declutter and Simplify

Remove excess furniture to maximize visual floor space. Clear kitchen and bathroom counters. Organize closets neatly and remove non essential items.

The objective is to create space, flow and clarity.

2. Perform Needed Repairs

Address visible issues a buyer will notice immediately:

  • Leaking faucets
  • Water stains
  • Loose hardware
  • Damaged trim
  • Cracked caulking
  • Burnt out light bulbs

Minor repairs prevent larger objections during showings and inspections.

3. Deep Clean Thoroughly

A professionally cleaned home presents better and photographs better. Clean windows, baseboards, grout, appliances and flooring. A fresh, neutral scent builds buyer confidence.

4. Improve Lighting

Bright homes sell faster. Replace outdated fixtures if necessary and ensure consistent warm lighting throughout. Maximize natural light by opening blinds and curtains.

5. Address Odors at the Source

Eliminate pet and moisture odors prior to listing. Buyers are highly sensitive to smell. A clean, neutral environment increases perceived value.

6. Enhance Curb Appeal

Curb appeal sets expectations before a buyer enters the home.

  • Pressure wash exterior surfaces
  • Clean gutters
  • Trim landscaping
  • Add fresh mulch
  • Refresh the front door

Strong exterior presentation improves first impressions and online photography.

Why Preparation Matters in the Tri Cities Market

Homes that are properly prepared often:

  • Generate stronger first week interest
  • Attract more qualified buyers
  • Sell closer to asking price
  • Spend fewer days on market

Preparation is not cosmetic. It is strategic positioning.

Working With Apex Real Estate Group

Why choose Colin Colpitts PREC*, Alex Golding and Josh Spence?

Apex Real Estate Group represents clients throughout:

  • Coquitlam
  • Port Moody
  • Port Coquitlam
  • Belcarra
  • Anmore
  • North Burnaby
  • Greater Vancouver

The team delivers:

  • Precise pricing strategy
  • Skilled negotiation
  • Professional marketing exposure
  • Strong referral based relationships
  • Deep hyper local market expertise

The focus is long term relationships built on performance, strategy and results.

Do you work with investors and redevelopment properties?

Yes. Investor services include:

  • Rental property acquisitions
  • Presale opportunities
  • Subdivision analysis
  • Development land evaluation
  • Long term portfolio strategy

Zoning trends and infrastructure growth across the Tri Cities are carefully monitored to support informed investment decisions.

Do you offer private off market sales?

Yes. Properties can be marketed privately without listing on MLS while still reaching qualified buyers through established brokerage networks and targeted databases.

This approach is often utilized for luxury and estate properties.

Important Disclaimer

Real estate regulations, mortgage guidelines and tax laws change regularly. This information is general in nature and does not constitute legal, accounting or tax advice. Buyers and sellers should confirm all information with their lawyer, notary, accountant and mortgage professional.

Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.