Residential real estate consists of the transferring and/or mortgaging of residential homes. Commonly these consist of either freehold parcels of land (normally single family homes) or strata title lots which are commonly referred to as condominiums. In addition residential real estate covers leasehold dwellings and co-operatives.

In British Columbia the Land Title system assures your title.

All conventional lending institutions provide their clientele with residential mortgages, however, the amount that a lender will lend against a title varies with the type of real estate being purchased and the financial ability of the borrower.

COMMERCIAL REAL ESTATE

Commercial Real Estate generally refers to all non- residential kinds of real estate or residential real estate being purchased for the sole purpose of rental (ie the purchase of an apartment building). For instance the purchase of a shopping centre or the purchase of an entire apartment building would both be commonly referred to as commercial real estate.

With the conveyance of commercial real estate there are considerations that are not generally considered in a typical residential conveyance. For instance in the conveyance of a shopping centre the leases become an important part of the transaction.

REAL ESTATE DEVELOPMENT

Real Estate development encompasses both the development of raw land into a residential lot subdivision and the development of raw land into condominiums.

In all real estate developments several investors may be involved in the development. Investors often form a joint venture in order to develop raw land.

It is important that investors receive proper taxation and legal advise before embarking on a real estate development.

The development of real estate is governed in British Columbia by the provisions of the Real Estate Act and the Superintendent of Real Estate.