Questions, answered directly
The questions Greater Vancouver buyers, sellers, and investors actually ask — answered the way Rachel answers them in person: the real number, the honest caveat, and the next step.
Buying
- How much does a buyer's agent cost in BC?
- In most BC transactions the buyer's agent is paid from the commission the seller has already agreed to — so professional representation typically costs the buyer nothing directly. Since 2024, buyer-agency agreements set this out in writing before you view homes, so you know exactly how compensation works before committing.
- How much deposit do I need to buy a home in BC?
- The deposit that accompanies an accepted offer is customarily about 5% of the purchase price, held in trust until completion. This is separate from your down payment: minimum down payments run from 5% on the first $500,000 to 20% for homes over $1.5M or investment properties.
- What does 'subject to' mean in an offer?
- Subjects are conditions that must be satisfied before a contract becomes firm — most commonly financing, inspection, and title review. They protect the buyer: if a subject cannot be met, the buyer can walk away with the deposit returned. Removing subjects strategically, not recklessly, is a core part of offer strategy.
- How long does it take to buy a home?
- From starting the search to holding keys, plan on two to four months in typical conditions: several weeks of viewing, one to two weeks from offer to subject removal, then a completion date usually 30 to 60 days after acceptance.
- Should I get pre-approved before looking at homes?
- Yes — pre-approval sets a real budget, locks a rate for 90 to 120 days, and makes your offers credible. In competitive situations, sellers routinely pass over offers from buyers who cannot demonstrate financing readiness.
- What is the foreign buyer situation in BC?
- Canada's federal prohibition on non-resident residential purchases has applied since 2023, with exemptions for certain work-permit holders, students, and property types. BC also levies an additional property transfer tax on foreign buyers in specified regions where purchases are permitted. Cross-border rules change — verify current rules for your situation before planning a purchase.
Selling & home value
- What does it cost to sell a home in Greater Vancouver?
- Budget for real estate commission (negotiated per listing and shared with the buyer's brokerage), legal fees of roughly $1,200 to $2,000, mortgage discharge costs if applicable, and any preparation you choose to invest in. Rachel provides a full net-proceeds estimate before you list, so the number you focus on is what you keep.
- How accurate is an online home value estimate?
- Online estimates — including the one on this site — are automated calculations, not appraisals. Ours applies the MLS® Home Price Index change for your area and property type to your BC Assessment value and presents a range. It cannot see renovations, condition, or lot specifics. For a decision-grade number, a comparative market analysis from recent comparable sales is the reliable tool, and Rachel prepares them free.
- When is the best time to sell?
- Spring and early fall bring the most buyers, but the best time is when supply in your segment is low — a well-priced home in January with no competition often outperforms a June listing among ten similar homes. The data for your specific product type matters more than the calendar.
- Should I renovate before selling?
- Usually only selectively. Paint, lighting, and minor repairs return their cost; major renovations rarely do. The right list comes from walking the property against current buyer expectations in your segment — spend where buyers in your price range actually notice.
- What is BC Assessment value versus market value?
- BC Assessment estimates your property's market value as of July 1 of the prior year for taxation. It is a mass appraisal — accurate on average, but routinely off by 10% or more for individual properties. Market value is what a buyer will pay today, best evidenced by recent comparable sales.
Commercial
- How is buying commercial property different from residential?
- Commercial transactions are underwritten on income and use: cap rates, lease covenants, zoning, environmental review, and financing terms that differ substantially from residential mortgages. Due diligence periods are longer and the contract structures more bespoke. Rachel is a CCIM candidate and brings that analytical framework to every commercial file.
- What is a cap rate?
- The capitalization rate is a property's net operating income divided by its price — the market's shorthand for pricing income streams. A $1M property earning $50,000 net trades at a 5% cap. Comparing cap rates across product types and locations is the starting point, not the conclusion, of commercial analysis.
- Can I use my home equity to buy commercial property?
- Many investors start exactly this way, using refinanced residential equity as the down payment on a commercial asset. Commercial lending typically requires 25% to 35% down with the property's income supporting the loan. The structure deserves professional tax and lending advice — Rachel coordinates with your advisors.
Dubai investment
- Can Canadians legally buy property in Dubai?
- Yes. Canadians can buy freehold property in Dubai's designated areas with full ownership title registered at the Dubai Land Department. There is no requirement to be a UAE resident to own.
- What taxes apply when a Canadian buys in Dubai?
- Dubai levies no annual property tax and no capital gains tax; buyers pay a one-time 4% Dubai Land Department transfer fee plus registration costs. Canadian obligations still apply — foreign property over $100,000 must be reported on form T1135, and rental income is taxable in Canada. Coordinate with a cross-border tax advisor before buying.
- Is off-plan property in Dubai safe to buy?
- Off-plan purchases are regulated: developer payments flow into RERA-supervised escrow accounts tied to construction milestones. Risk still varies by developer track record and project economics, which is where independent, licensed guidance matters. Rachel holds Dubai brokerage registration BRN 83625 and vets projects before clients commit.
- Why do Vancouver investors look at Dubai?
- Entry prices well below comparable Vancouver product, no annual property tax, and a regulated freehold market with strong rental demand. The fundamentals differ from Canada in both directions — currency, legal system, and market cycles all deserve real due diligence before committing capital.
Working with Rachel
- What areas does Rachel Gibb serve?
- Surrey, South Surrey, White Rock, Langley, Cloverdale, Delta, Richmond, Vancouver, Burnaby, and Coquitlam — residential and commercial — plus Dubai for Canadian investors through her UAE registration (BRN 83625).
- What makes Rachel's approach different?
- The research comes first. Every recommendation — list price, offer, or walk-away — arrives with the data behind it and an honest read of the risk. No pressure tactics, no manufactured urgency: clients make informed decisions with the numbers on the table.
- How do I get started?
- Call or WhatsApp for a conversation, or use the contact form. A first meeting costs nothing and carries no obligation — it is a working session on your situation, not a sales pitch.
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