RICHMOND AND GREATER VANCOUVER REAL ESTATE NEWS

You’ve found the one. After weeks (or months) of touring homes and submitting offers, your offer has finally been accepted. It’s an exciting milestone — but it’s not quite time to pop the champagne just yet. There's still a path to navigate before you officially get the keys.

In British Columbia, the “closing date” marks the day you become the legal owner of the property. But between acceptance and possession, there are important steps that need to happen — and timelines that must be met. Here's what that process typically looks like in BC, and what you need to know to stay on track.

🔑 How Long Does It Take to Close on a Home in BC?

In most BC real estate deals, the buyer and seller agree on the completion date when the Contract of Purchase and Sale is signed. This is usually 30 to 60 days out, but can vary depending on the needs of both parties.

Keep in mind — if your offer included any subject clauses (like financing, inspection, or the sale of your current home), there’s typically a short window to satisfy those subjects. This is known as the “subject removal period,” and it’s often just 7 to 10 business days. Once those conditions are removed, the deal goes firm — and that’s when things really start moving toward closing.

🛠 Common Reasons a Closing Might Be Delayed

Even with a firm deal, unexpected hiccups can push the closing timeline. Here are a few common issues we see here in BC:

1. Appraisal Issues
If you're getting a mortgage, your lender may order an appraisal. If that appraisal comes in lower than the purchase price, the lender will only finance up to a certain percentage of the appraised value. You may need to come up with the shortfall, renegotiate, or extend the closing to sort out financing.

2. Mortgage Documentation Delays
BC lenders are strict when it comes to paperwork. Delays in submitting your employment verification, bank statements, or tax info can create a bottleneck in the approval process.

3. Title Problems
A title search is done to confirm the seller legally owns the property and that it’s free of liens, easements, or legal claims. Occasionally, issues crop up — like an old builder’s lien or an unregistered right-of-way — that need to be cleared before closing.

4. Survey or Encroachment Disputes
Older properties in BC may have outdated surveys or undisclosed encroachments. If the seller’s fence or garage is slightly over the property line, for example, it could cause legal headaches — and delay possession until resolved.

🔍 What to Expect at the Home Inspection

In BC, home inspections are typically done during the subject period. This step is optional, but I always recommend it — it’s your best chance to understand what you’re buying.

A good home inspector will check the major systems: roof, plumbing, electrical, foundation, and heating. If possible, walk through the home with them. It’s a great opportunity to ask questions and get a feel for ongoing maintenance needs. If the inspection turns up any surprises, you can negotiate repairs, credits, or walk away if the issue is too big.

🧾 Leading Up to the Closing Date

Once subjects are removed and your financing is in place, your lawyer or notary will get to work preparing the closing documents. These include the land title transfer, mortgage documents, property tax adjustments, and more.

Here’s what typically happens in the days before closing:

• Your lender sends mortgage instructions to your lawyer

• Your lawyer prepares a Statement of Adjustments showing what you owe

• You bring the remaining down payment and closing costs to your lawyer

• Final documents are signed and sent to the Land Title Office

• On completion day, the property legally transfers to your name

Possession day usually follows 1–2 business days after completion. That’s the day you get the keys!

Let’s Make Your Closing Smooth

Whether you're buying or selling, in this ever-changing BC market, having a trusted advisor makes all the difference. From subject removal to title transfers, our team handles the fine print so you can focus on the big picture.

Got questions about closing timelines or preparing for your next move? Let’s chat. We’ll help you navigate the process smoothly — no surprises, no stress.

Source: Michael Cowling
ConnectWithRemax.com      

If you’ve been sitting on the sidelines, watching the Greater Vancouver real estate market with a cautious eye, you're not alone. Many homeowners have taken a wait-and-see approach over the past couple of years — and now, more and more are stepping back into the market. In fact, a recent study suggests a significant wave of Canadian homeowners are planning to sell within the next few years, which could bring much-needed inventory to our tight local market.

So, if you're considering selling your home in Richmond or Greater Vancouver — here are nine key things to keep in mind to help you sell with confidence and get the best return.

1. Start with the Right Realtor

It’s tempting to try and go it alone, but in a market as nuanced as Greater Vancouver, having an experienced, local real estate professional in your corner can save you serious time, money, and stress. From understanding zoning shifts (hello, small-scale multi-unit zoning!) to navigating strata documents and local bylaws, a trusted agent will help you avoid costly mistakes and put a plan in motion that’s based on data, not guesswork.

2. Price it Strategically — Not Emotionally

Pricing isn’t about what your neighbour sold for last year or what you "need to get" — it’s about understanding where the market is right now. That’s where we come in.

We'll start with a detailed market evaluation, review recent comparable sales in your exact neighbourhood pocket (not just your city), and factor in current buyer activity levels to land on a number that positions your home to sell — not sit.

3. Timing Still Matters

Even in a shifting market, timing your listing right can make a big difference. Spring and early fall tend to be the most active seasons here in Greater Vancouver, while late December is usually quiet.

The right timing also includes day-of-week and marketing build-up. With the right pre-list buzz — including sneak previews, social media drops, and early notifications to our database — we can create momentum before your home even hits MLS.

4. Don’t Let Emotions Cloud Good Decisions

It’s totally normal to feel attached to your home — especially if it’s where you’ve raised your family or spent decades making memories. But once you decide to sell, the goal shifts to showcasing your home as a product. That means staying open to feedback, being flexible during negotiations, and trusting the process — even if it means tossing in that new fridge or repainting a bold-coloured room.

5. Declutter to Maximize Space

We all accumulate stuff. The trick is not to let it distract buyers. A good declutter opens up your home and helps buyers picture their life there — not yours. Think: clear counters, tidy closets, minimal personal items. We’ll walk you through exactly what to keep, store, or donate for maximum impact.

6. Stage to Sell — Not Just to Look Pretty

Staging isn’t about filling your home with designer furniture — it’s about making it feel welcoming, open, and move-in ready. Whether we bring in a professional stager or guide you with a DIY plan, the goal is the same: highlight your home’s strengths and help buyers fall in love.

Bonus tip: we’ll also invest in great photography, videography, floor plans, and 3D tours — because first impressions often happen online.

7. Fix What Needs Fixing

In BC, most buyers today are including conditions again — like inspections and financing. That means if there are issues, they’ll likely be found. Fixing minor problems ahead of time (like a dripping faucet or loose railing) shows pride of ownership and keeps your deal from falling apart later.

If there are bigger items — like an aging roof or outdated electrical — we’ll talk through the best strategy for repair vs. pricing adjustment.

8. Today’s Buyers Are Smart — Be Ready for That

Buyers in our market are coming in with research, tools, and often a savvy agent of their own. They've checked BC Assessment values, Googled zoning bylaws, and have probably looked at every comparable listing. They’re not being fooled by scented candles or emotional pricing — which is why our transparent, strategic approach earns trust and gets results.

9. Closing Day in BC — What to Expect

In British Columbia, the legal closing is typically handled by your notary or lawyer. They’ll ensure all conditions are met, title is transferred, and funds are disbursed properly. On possession day (often the day after closing), the keys are handed over and the deal is officially done.

We’ll guide you step-by-step through that whole process — from reviewing the Contract of Purchase and Sale to final handover — so you feel supported every step of the way.

Final Thought: Selling Your Home Should Feel Like a Confident Move

Real estate can feel overwhelming — but with the right team, clear steps, and a strategic plan tailored to your goals, selling your home in today’s Greater Vancouver market can be a rewarding, stress-free experience.

Whether you're just curious about your home's value or already packing boxes, let’s talk. I’ll help you map out a clear path forward — no pressure, just real advice.

📞 Reach out anytime for a complimentary home evaluation or to chat strategy.

Source: Michael Cowling ConnectWithRemax.com 

When a buyer comes back for a second viewing of a house, it’s always a good sign. But it’s also your cue to be extra sharp. At this stage, they’re beyond first impressions and are now looking for confirmation. Maybe they want to see how the house feels during the day, bring someone whose opinion they trust, or revisit things they hesitated about. Your job now isn’t just to show the home again—it’s to remove doubts and help them picture themselves living there.

Prepare Your Home to Pass the Second Showing Test

Buyers arriving for a second showing are looking closer. On their first visit, they might’ve been caught up in the layout and general feel. Now, they’re peeking into closets, testing faucets, and scrutinizing finishes. This is when overlooked details like dusty baseboards, scuffed walls, or a squeaky door can become distractions. Walk through the home like a buyer would and fix anything you skimmed over for the first showing. Deep-clean under sinks, inside appliances, and other spots they’re now likely to check. Your REMAX Michael Cowling and Associates agent can help identify areas where you should focus some extra attention at this stage.

Address Buyer Hesitations Head-On

If a buyer wants second viewing access, assume they’re debating one or two concerns. The key here is to meet hesitations directly. For example, if they mentioned the kitchen feeling small, remove clutter or stage with more compact furniture. If they are worried about storage, show how underused spaces can hold shelving. For awkward layouts, provide a simple sketch or inspiration photo showing how others have made it work. Small, low-cost tweaks like brighter lighting in dark corners or staging an odd nook as a reading spot can turn a “maybe” into a “definitely.”

Stage Memorable Moments That Sell the Lifestyle

Second viewings are about buyers asking themselves: Can I live here? This is where emotional cues matter. Don’t rely on them to imagine it—show them. Stage a sunny corner with coffee mugs and a book, set the dining table as if guests are arriving, or add a cozy throw to the couch. Use this opportunity to tailor the experience based on what you heard during the first visit. If they loved the backyard, make sure it feels ready for gatherings. If they mentioned family dinners, create that mood in the dining area. Buyers make decisions based on feeling just as much as function, especially during a second viewing before an offer.

Nail the Pricing

When a buyer wants a second viewing, they are running the numbers. They’re comparing your home’s price against the condition, any flaws they noticed, and alternatives on the market. Avoid the common pitfall of pricing optimistically, hoping buyers won’t notice issues—they will. Instead, come prepared. Have home inspection reports, receipts for recent upgrades, and even contractor quotes for known issues like roof age or HVAC updates. A simple binder with utility costs, the age of big-ticket items, warranties, and a list of included items signals that your pricing is grounded in reality. This builds confidence, especially when the buyer wants a second viewing for reassurance before making an offer. Want to understand your home’s true value? Connect with a REMAX Agent to get local insights, comparable pricing advice, and guidance that helps you price with confidence.

Negotiate Strategically

The second viewing of a house often sets the tone for negotiations. Savvy buyers will be looking for maintenance needs, outdated features, or minor flaws to use as leverage. Know your bottom line, but prepare for common objections. If you can’t lower the price, could you include appliances, offer a flexible closing date, or cover part of the buyer’s closing costs? Deals are made by showing you’re solution-oriented. When a buyer requests for a second viewing, they’re serious. Stay calm and be ready to negotiate without seeming desperate.

How an Experienced Agent Adds Value During a Second Viewing Before an Offer

A good real estate agent does more than unlock the door for a second showing. This is often when unusual concerns surface. Buyers may question if a room without a closet counts as a legal bedroom, whether that small extension was permitted, or if a sloped backyard will cause drainage issues. A sharp agent can answer these concerns on the spot or quickly provide the information buyers need to move forward. They can address renovation worries, like removing a wall or expanding parking, offering practical solutions or referrals to local experts. An experienced agent also knows how to handle skeptical visitors who may derail the showing. It’s common for buyers to bring parents, contractors, or friends who point out every flaw. Instead of letting the mood shift, they will calmly highlight positives, offer context, or suggest simple fixes. A skilled agent helps prevent concerns from growing into deal-breakers during a critical second viewing of a house.

If you're navigating this dynamic market, whether buying or selling, let's talk strategy. Our team can guide you through the most efficient processes, aiming to save you time, money, and hassle. Contact us today, and let's make your real estate journey successful!

Source RE/MAX & Michael Cowling

And Signs It Went Well

Thinking of selling your home and wondering what actually happens during a showing? From who comes through the door to how buyers behave when they’re serious, here’s your complete guide to the home showing process — and the tell-tale signs a showing went well.

Showings vs. Open Houses

Before we get into the details, it’s worth understanding the difference between a private showing and an open house.

An open house is when your home is available for anyone to drop by during a set window of time — usually on a weekend. A showing, on the other hand, is a scheduled, private appointment arranged through a real estate agent. These are often preferred by serious buyers, and in today’s market, they’ve become the norm for evaluating a property up close.

What Happens During a Home Showing?

A showing is a buyer’s chance to explore your home and picture themselves living there. It’s also your opportunity to make a strong impression and create that emotional connection that leads to offers.

1. Scheduling Showings

Once your home hits the market, interested buyers will start booking appointments through their agents. Most showings last about 15 to 30 minutes, and in active markets, it’s not unusual to get multiple requests a day.

As the seller, you should try to be flexible. Giving your agent a few hours’ notice is fine, but the more accessible your home is, the more opportunities you’ll have to attract interest.

2. How You’ll Be Notified

Work with your agent to set up a reliable system for booking and confirming showings — whether that’s by text, email, a calendar app, or phone calls. Timely communication makes everything smoother for everyone involved.

3. Who’s Coming Through the Door?

Showings are typically attended by the buyer and their real estate agent. Occasionally, an unrepresented buyer may request a viewing directly through your listing agent.

Pro tip: It’s best not to be home during the showing. Even if you’re just relaxing in the backyard or basement, your presence can make buyers feel uncomfortable and rushed — and it can stop them from speaking freely or emotionally connecting with the space.

Preparing Your Home for Showings

To make your home shine:

• Declutter and clean thoroughly before your listing goes live.

• Keep the house “show-ready” daily, especially if you're still living there.

• If possible, remove pets and any pet-related items.

• Open blinds, turn on lights, and leave closet doors slightly ajar so buyers can look inside with ease.

If you’re expecting a high volume of showings, consider a weekend getaway or local staycation to avoid the disruption and keep your home in perfect shape.

What Buyers Do During a Showing

Buyers will walk through the home, open closets and cupboards, check room sizes, and often test things like light switches, taps, and appliances. That’s normal — they’re trying to assess functionality and get a feel for the layout.

Their agent will guide the visit, answer questions, and take note of anything that requires follow-up with your agent.

After the Showing

Your agent will usually reach out to the buyer’s agent to get feedback — this can be valuable insight into pricing, presentation, or anything that might be holding buyers back.

If the showing went well, you’ll often know quickly. Serious interest usually follows within 24–48 hours.

Signs a House Showing Went Well

So how can you tell if buyers are really interested? Here are some of the top signals:

• ✅ They stay longer than average. A quick walkthrough can mean they’re just not feeling it.

• ✅ They ask detailed questions — about renovations, age of the roof, utilities, or even closing date flexibility.

• ✅ They talk about the layout like it’s already theirs. Phrases like “this would be Emma’s room” or “our table would fit here” are dead giveaways.

• ✅ They linger in key rooms — like the kitchen or primary bedroom — and discuss what they’d change or keep.

• ✅ They bring someone back. A second showing with a family member, friend, or contractor is a strong sign they’re seriously considering writing an offer.

• ✅ Their agent follows up quickly. If they’re asking about other offers or hinting at terms, they’re interested.

• ✅ They ask for a pre-offer inspection. This is one of the clearest signals an offer is coming.
  
  

Final Thoughts

Showings are one of the most critical parts of the home selling process. It’s where the emotional connection is made and where offers start to take shape. By understanding what happens — and recognizing the signals of interest — you’ll feel more in control, less stressed, and better positioned to sell your home successfully.

If you're navigating this dynamic market, whether buying or selling, let's talk strategy. Our team can guide you through the most efficient processes, aiming to save you time, money, and hassle. Contact us today, and let's make your real estate journey successful!

Source Michael Cowling

For years, downsizing has been common throughout the Canadian housing landscape. When homeowners see their children all grown up and leave the nest, they have little need to own a larger residential property. In addition, the amount of work and cost to maintain a single-family home can be quite challenging for older households. Of course, inflation and cost-of-living factors are also considered for those struggling to pay their bills or approaching retirement, as they can use the accrued equity to help cover all or some of their living expenses in their golden years.

As a result, they will list their home for sale and relocate to a smaller property, whether a bungalow or a condo suite. Indeed, choosing to downsize and reduce your living space can have several financial upsides and help mitigate financial concerns you might have residing in a much larger home.

What Does Downsizing Mean?

Downsizing means transitioning from a larger home to a smaller living space, typically to reduce expenses and simplify your lifestyle. The downsizing meaning varies depending on your situation. For empty nesters, it might mean selling a four-bedroom family home after the children have moved out and purchasing a more manageable two-bedroom condo. For retirees, downsizing could involve selling a detached house in an expensive urban area and relocating to a more affordable community with a lower cost of living.

Practically speaking, downsizing typically involves:

• Selling your current larger home
• Purchasing or renting a smaller property
• Reducing your belongings to fit your new space
• Adjusting to a more compact living environment

While the physical aspects of downsizing require adjustment, the financial benefits often make this transition worthwhile. Let’s take a look at several of the financial upsides of downsizing.

The Financial Upside of Downsizing

Here are eight financial upsides of downsizing:

1. Lower Mortgage Payments

One of the most significant benefits of downsizing is the reduced costs associated with mortgage payments. A mortgage for a smaller property is typically much less than you are probably paying now, saving you on monthly payments amounting to hundreds or even thousands of dollars per month, depending on the price difference between properties. This way, you have breathing room in your budget and greater financial flexibility in other areas of your life. In some cases, you may even be able to purchase the smaller property in full since you will have sufficient cash flow from selling your existing home.

2. Reduced Taxes

How much are you currently paying in property taxes? A notable advantage of downsizing is lowering your annual tax bill. Remember, a home’s value for tax purposes is assessed on square footage. When you downsize from a 2,500-square-foot house to a 1,200-square-foot property, you could cut your property tax payments nearly in half. So, property taxes will be assessed at a lower rate for smaller properties, which can be a vital benefit of downsizing, especially considering that municipalities across Canada are raising their property tax rates to sizeable levels to cover budget shortfalls and keep up with inflation.

3. Lower Utility Bills

From more lights to greater energy consumption, utility bills are generally higher for larger residential properties than for their smaller counterparts. Therefore, by downsizing your living arrangements, you are far more likely to save on heating and cooling costs. A smaller home means fewer square feet to heat in winter and cool in summer, potentially reducing your energy bills by 30-50 percent, depending on the size difference between properties. Moreover, your new home will likely produce lower water bills if you do not have a yard in the downsized property.

4. Lower Insurance Costs

Many Canadians are taken aback by how much they spend on home insurance. While the premiums will vary, home insurance costs are typically lower for smaller homes than for larger properties, as insurance companies determine premiums based on the property size.

5. Reduced Maintenance Costs

Let’s be honest: Bigger homes require more maintenance. If you move to a condominium or a senior living community, maintenance costs are usually covered in your monthly payments and may be lower than those of a larger property. You also do not have to worry about snow removal or maintaining your yard or garden, as the condominium management takes care of these things.

Whether you need a roof repaired or the lawn mowed, maintenance costs add up—both financially and physically! Eliminating the time and physical effort of maintenance also provides an invaluable quality-of-life improvement, especially for those with health concerns or those who prefer to spend their time on activities other than home repairs.

6. Amenities and Membership Costs

The amenities are another upside of downsizing if you move to a condominium or senior living community. Most of these places provide their residents with several amenities, such as a fitness centre, swimming pool, clubhouse, sun deck, and tennis courts. In addition, depending on the location, there might be additional community activities.

Overall, these amenities can help you save on gym, pool, or club memberships.

7. Car Payments and Savings

Downsizing is a terrific opportunity to relocate to a community with better public transportation or a location that gives you walkable access to most necessities. This can help you save on fuel costs and may even enable you to give up your car altogether. Altogether, saving additional money on car payments, insurance payments, and car maintenance and repairs can add to your pocketbook.

8. The Joy of Decluttering

Let’s face it: A bigger home will usually mean accumulating too much stuff. Downsizing will allow you to reduce clutter, get rid of stuff you have never used in years, and get rid of your belongings. The decluttering process can be surprisingly therapeutic, with many downsizers reporting feelings of relief and mental clarity once they’ve simplified their living spaces and kept only what truly matters to them. You can easily and quickly profit from selling furniture and other items you will no longer use in your smaller home. Online marketplaces like Kijiji and Facebook Marketplace make it simpler than ever to convert unused possessions into extra cash during the downsizing process.

Remember, as the KonMari Method tells us, the best way to declutter is to ask yourself, “Does this bring me joy?”

Downsizing is Financially Advantageous

Overall, downsizing can be financially feasible depending on where you relocate and how much you can save. Statistics show that the primary reason for downsizing is to save money. Not only does the reduction in monthly expenses increase savings, but these savings could be reinvested or saved for retirement. The money you end up socking away every month can be utilized to reduce existing debt or pay off loans, which is another financial advantage.

Switching from a larger property to a smaller one can ultimately help you improve your financial situation and take away the stress you may have because of high monthly payments and debt. It can enable you to spend that money on something you would enjoy and ensure you are not constantly worried about paying your bills, which will likely be much higher for the larger property than the downsized one.

Ultimately, you can experience many other positive benefits like a simpler lifestyle, fewer tasks, less clutter, less time spent on maintenance and cleaning, and more money and time on hand to simply enjoy your life doing other activities and living a more balanced life. Rather than focus on exorbitant mortgage payments or ballooning monthly bills, your new concentration will be family, health, and everything else you enjoy in life.

If you're navigating this dynamic market, whether buying or selling, let's talk strategy. Our team can guide you through the most efficient processes, aiming to save you time, money, and hassle. Contact us today, and let's make your real estate journey successful!

Source: RE/MAX
ConnectWithRemax.com        

Vancouver, BC – May 14, 2025. The British Columbia Real Estate Association (BCREA) reports that 6,453 residential unit sales were recorded in Multiple Listing Service (MLS) Systems in April 2025, down 14.6 per cent from April 2024. The average MLS residential price in BC in April 2025 was down 6.1 per cent at $942,884 compared to $1,003,638 in April 2024.

The total sales dollar volume was $6.1 billion, a 19.7 per cent decrease from the same time the previous year. BC MLS unit sales were 27 per cent lower than the ten-year April average.

“Regional activity continued to diverge in April with more expensive regions experiencing a larger drop in sales activity,” said BCREA Chief Economist Brendon Ogmundson. “Uncertainty regarding trade and monetary policy has caused trepidation for prospective buyers, largely in the Lower Mainland, prompting overall provincial activity to fall far below historical averages.”

Year-to-date, BC residential sales dollar volume is down 11.7 per cent to $20.7 billion, compared with the same period in 2024. Residential unit sales are down 7.9 per cent year-over-year at 21,676 units, while the average MLS residential price is also down 4.1 per cent to $953,674.

If you're navigating this dynamic market, whether buying or selling, let's talk strategy. Our team can guide you through the most efficient processes, aiming to save you time, money, and hassle. Contact us today, and let's make your real estate journey successful!

Source: BCREA Economics Statistical Release