WELCOME TO WESTERN CANADIAN PROPERTIES GROUP (WCPG)
The following will describe the process and provide links to online resources necessary to implement the
sales process for the sales in Sunset Ridge 28.
WCPG TEAM
Dave Steele, President
 (604) 980-8407
 (604) 648-8615
 [email protected]
Andrea Pearmain, Project Coordinator
 (604) 562-9007
 (604) 909-2909
 [email protected]
Trina Limoges, Executive Assistant/Contracts Coordinator
 (604) 980-8460
 (604) 648-8615
 [email protected]
Cynthia Aasen, Strategic Investment Realty
 (604) 764-5647
 (604) 608-3195
 [email protected]
Dwayne Stewart ,Pacific RIM Services
 (604) 504-0998
 (604) 852-2571
 [email protected]
COMMISSION STRUCTURE

50% of commissions will be paid on May 31, 2013 (once we have construction financing) and
50% will be paid on closing. Commission is paid on the purchase price only and is not paid on the
price after GST.
All agents and affiliates are to submit an invoice prior to closing for commission and bonus,
to be reviewed and sent to the lawyer for payout.
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SITE TOURS AND INSPECTIONS


Please contact Andrea Pearmain in advance to book site tours after May 1, 2013
Developer prefers 48 hours and limited weekend showings, if possible.
OFFER SUBMISSION AND ACCEPTANCE
1. The following documentation needs to be filled out by the client and agent, in full, and sent to
WCPG.
2. Trina will send all the appropriate paperwork to the Lenders and the Lawyers. In the event Trina
is not available, Andrea Pearmain is her backup at 604-562-9007. The offer documents listed
below are REQUIRED and the offer will not be accepted without ALL documents.
REQUIRED DOCUMENTATION
o
o
o
o
o
o
o
o
o
Transaction Record Sheet
Property Purchase Checklist – be sure to include Client Lender/Lawyer’s name
Disclosure Receipt Acknowledgement
Purchase Agreement
GST Rebate forms from CRA
Rent Stabilization Agreement
Utilities, Property Tax & Insurance Waiver
Void Cheque
Deposit information and copy of cheque or wire transfer confirmation slip. DO NOT DIRECT
DEPOSIT TO LAWYER’S TRUST ACCOUNT UNTIL YOU HAVE AN ACCEPTED OFFER
Page 2
2. Offers can be sent via email, fax, mail or courier to the following addresses:
MAIL/COURIER:
Attention: Trina Limoges
3111 Del Rio Drive
North Vancouver, BC V7N 4C3
FAX:
604-648-8615
EMAIL:
[email protected]
WCPG preferred offers to come is via email (in one email). Please do not send in partial
paperwork, only send in once all forms have been completed in its entirety.
WCGP reviews the paperwork approves/accepts. Copies of the accepted contract will be sent to
the agent, RBS, Cawkell Brodie (or other lawyer if provided) and Lender/Broker. Please allow 48
hours for offer acceptance unless otherwise notified.
3. WCPG logs the information, including any subject conditions and their respective removal dates.
4. Subjects need to be removed in writing by the client/Agent on the prescribed addendums
included in the Willowcreek Sales CD by the dates written in the contract. If not removed in
writing legally the contract is not valid. Practically speaking WCPG will accept subject removal
addendums after the date, on exception basis. The Vendor and Purchasers’ lawyers require this
all documentation signed to convey the title.
OPEN LIST, RESERVATIONS AND BACKUP OFFERS
OPEN LIST

Available units and price list will be posted online under Sales Login
RESERVATION

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


Units will be reserved on a first come, first serve basis.
Call / email Trina Limoges
Wait for confirmation email prior to executing offer.
Please include legal condo #, suite number and client first and last name.
A real estate representative may only have 5 reservations open at any time.

Buyers may only reserve units for up to 2 (48 hours) business days and must submit written offer
within this period. If no written offer is received within this time, the unit will be released.

WCPG will accept back up offer on 1st choice ONLY if client has written an offer on their 2nd
choice
.
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Page 3
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All other subject dates will remain the same
To place backup please provide client name, 1st and 2nd choice unit # to Trina Limoges by email
Backup list will be date and time stamped.
Submit offer inserting 2nd choice SL and unit on the Purchase Agreement ONLY and have all
other documents signed DO NOT FILL in SL or Unit #. If and when the 2nd choice comes available
you need to just replace the 1st page of the offer. Clients require a completed Purchase
Agreement to qualify for financing.
DROP OFFS
When a Purchaser has decided not to proceed, please notify Trina as soon as possible. The
following steps must be taken to ensure if an offer was accepted on the unit before it can be released
to other buyers:

If reservation, email [email protected] or fax (604) 648-8615

If accepted offer, complete the Collapse Release addendum located in the Sales Section under
BC Agents (Collapse Release Addendum for BC) or AB Agents (Notice Non-Waiver Collapse
Addendum for AB)

Both Vendor & Purchaser must sign and date.

Upon receipt the unit will be released to open list.
FINANCING PROCESS
1. In the context of explaining this process Lender is defined as source of financing. Below is the
actual process showing how it works internally. This information is meant to provide an
understanding so you can better communicate with your clients.
2. WCPG will forward a copy of the accepted Offer to the Purchaser’s Lender noted on the
Property Purchase Checklist to start finance process. WCPG will provide the Purchaser’s Lender
with the Purchaser’s Lawyer details and vice versa to make sure mortgage instructions are sent
in time for closing.
3. It is important that the REA/Agent to provide contact details of the Lender and the Lawyer to all
parties; WCPG, Purchaser, Lender and Lawyer. Noting the financing subject removal date and
stressing the importance of starting the financing process in advance.
Page 4
Role
Mortgage Broker
Bank Rep
Stage
Client interview/application
Description
Determine objectives and identify
doc requirement
Collect supporting docs & client
consent
Prepare financing request &
submit to Lender
Time
1 Day
Cumulative
1 Day
1 – 2 Days
3 Days
1 Day
4 Days
1 -2 Days
6 Days
Documentation Review
Lender reviews application and
prepares conditional approval
Lender approves supporting docs
1 -5 Days
11 Days
Client Commitment
Client signs Lender Commitment
1 -3 Days
14 Days
Appraisal ( after occupancy
permit and WCPG notice)
Property Valuation & Report
Submission
3 – 4 Days
18 Days
Final Approval
Lender approves appraisal &
removes final condition of
approval
Lender prepares legal instructions
for lawyer
1 – 3 Days
21 Days
Supporting Documents
Lender Submission
Lender
Mortgage Broker
Bank Rep
Lender
Underwriting & Approval
Mortgage Instructions
10 – 15 day prior to
completion
COMPLETION & CLOSING
WCPG will notify Purchaser’s Lender and Lawyer when Occupancy Permit is ready, lender will order
appraisal and send mortgage instructions to Cawkell Brodie who will prepare closing documents, meet
with clients and/or send documents to out of town clients for them to sign in front of notary/lawyer and
courier along with Deposit to Cawkell Brodie. This process will take up to 3 weeks for out of town
clients. The offer is written in such a way that dates can be moved without the requirement to extend
the dates. (See below)
1.04 Completion, Possession and Adjustment Dates: See Section 4 of Addendum “A” attached hereto.
The Vendor presently estimates the Completion Date to be on or before __________________________
Page 5
4. COMPLETION, POSSESSION AND ADJUSTMENT DATES
4.1 The completion of the purchase and sale of the Strata Lot shall take place on the first business
day which is the tenth day after the Vendor notifies the Purchaser or the Purchaser's Solicitors or
notary that the Vendor has received an occupancy permit whether temporary, conditional or final
(the "Occupancy Permit") or other document allowing occupancy of the Strata Lot and that a
separate title to the Strata Lot has been issued by the applicable Land Title Office (the
“Completion Date”). If the Completion Date has not occurred within six (6) months of the date
specified in Section 1.04 of the Offer to Purchase, then the Purchaser or Vendor may, subject to
paragraph 4.2 hereof, cancel this agreement, by written notice delivered to the other within 60
days of that date whereupon the Purchaser will be entitled to repayment of the Deposit as the
Purchaser’s sole remedy
AT THE LAWYER:
A $20,000 deposit is required upon signing the offer
Deposits by way of personal/corporate cheque (ONLY IF CLOSING IS AT LEAST 14 DAYS LATER),
otherwise bank draft or wire transfer payable to:
Deposits
Richards Buell Sutton LLP “in trust” and delivered to 700-401 West Georgia Street
Vancouver, BC V6B 5A1 Attention: Randy Klarenbach
Funds can be wired or direct deposited to Vendor’s Lawyer Account as follows:
Wire
Transfer
Instructions
TD Canada Trust
1055 Dunsmuir Street
Vancouver, B.C., V7X 1P3
Account Name: Richards Buell Sutton LLP, In Trust
Branch No.: 02160
Institution No.: 004
Account No.: 7637-5000801
Swift Code: TDOMCATTOR
IT IS IMPORTANT:
 IF SENDING BY WIRE TRANSFER, ASK PURCHASER TO EMAIL / FAX COPY OF THE
WIRE TRANSFER CONFIRMATION NOTING THE STRATA LOT #, UNIT # AND CLIENT
NAME.
 IF SENDING CHEQUE, ASK PURCHASER TO NOTE STRATA LOT # & UNIT # ON THE
CHEQUE AND EMAIL/FAX COPY.
SEND THIS INFORMATION TO [email protected] or fax (604) 648-8615.
If RBS is not notified than there is a risk that the funds will be returned.
Page 6
MORTGAGE FINANCING, CLOSING DATE & 1ST MORTGAGE PAYMENT
We have arranged for Scott Brodie (BC Lawyer) to act for any purchasers that do not have a BC lawyer to
handle this conveyance.
Scott Brodie
Cawkell Brodie Glaister LLP
Suite 1260 - 1188 West Georgia Street
Vancouver BC V6E 4A2
Direct (604) 684-3323 226 | Fax (604) 684-3350 | [email protected]
Conveyance
Details can be found under Purchasing/Closing tab in
1.
2.
3.
Sales section – Legal Service Package
Once BC lawyer’s office receives the mortgage instructions, the file is prepared for submission to the
Land Titles Office. The BC lawyer’s office is responsible for:
 Matching up your PA, Cash to close and Mortgage Instructions
 Preparing the documentation package to be sent to you for execution and registration at (land
titles office)
 Ensuring that all documentation is in order for purchases that are done in a client’s company
name. If you are purchasing under a company, the lawyer may require you to sign additional
paperwork. Corporations outside of BC must register in BC which takes longer time frame than
standard conveyance.
 Preparing the Actual Statement of Adjustments, based on finalized closing costs, and adjusted
for the actual Close Date
For out of town buyers, BC Lawyer’s office will email documents to Purchaser so they may arrange
to properly sign the documents. This means they have to arrange to meet with Notary or Lawyer to
execute documents
Purchaser must then courier back to BC Lawyer along bank draft representing the amount of cash to
close (Purchase Price – deposit – mortgage amount)
Role
WCPG
WCPG
BC Lawyer
WCPG
Lender
BC Lawyer
Out of Town
Purchasers
Description
Send accepted contracts & all addendums to BC Lawyer
Send contact details for Purchaser Lender
Set up files, prepare list Purchasers, units being
purchase, receipt of cash to close, Lender, and receipt
of mortgage instructions
Provides notification to Lender that appraisal can be
done
Orders, approves and sends mortgage instructions to
BC Lawyer
Receives mortgage instructions from Lender and finalize
mortgage documents for signature, book appointment
for signing
Email documents and receive executed copies
Time
Ongoing
Ongoing
Ongoing
Cumulative
Ongoing
1–3
Days
3–7
Days
3 - 10
Days
FROM TIME THE APPRAISAL IS APPROVED IT MAY TAKE UP TO 14 DAYS TO CLOSE THE UNIT.
Page 7
AFTER THE PURCHASE IS COMPLETED

Within approximately 21 days of the Close Date, you will receive a reporting package prepared by
your lawyer, which will include your title transfer documents, mortgage instructions and lawyer’s
Actual Statement of Adjustments
TH
nd
First Net Rent Deposit – 10 day of 2 month after the Close Date. You may want to
suggest that Purchaser arrange with Lender for the first mortgage payment to follow the first net
st
rent deposit. To do this the Lender would just adjust 1 payment to cover the interest owing from
date of purchase to the first mortgage payment date
For example if you close your purchase on August 16th,
o
Pro-rata share of August rent will be credited on Statement of Adjustments.
o
September rent will be deposited by October 10 .
o
September 15 payment would be interest adjustment representing the interest owing for
th
the period August 16 – September 15 .
o
October 15 mortgage payment would be regular mortgage payment. If you set up
weekly or bi-weekly payments, Purchasers need to discuss their options.
th
th
th
Buffer – one month’s mortgage payment deposited into account before the IAD
Mortgage
Payment
Clients are advised to deposit this buffer into their account to accommodate any potential
shortfalls, such as the Interest Adjustment Amount
The bank advances mortgage funds to the lawyer on the Close Date. The bank will charge you
interest on the advanced funds from the Close Date until (and including) the last day of the
month.
* Some banks do not have an IAD. Mortgage payments will start one month from the close
date. This will be specified in the Notice of Mortgage Instructions.
Details can be found under Purchasing/Closing tab in
Package
Sales section – Mortgage Finance
STERLING MANAGEMENT SERVICES LTD.
OPTIONAL RENTAL ADMINISTRATION
Rental
Management
It is anticipated that most of the purchasers will opt into the rental administration program.
Monthly fees are $25 per month providing there are a minimum of 20 participants.
Page 8
Monthly net revenue will be deposited the 3
rd
week of the month.
Sterling Management will send a Welcome Package with forms and instructions to each new
Purchaser upon notification of firm sale. Please forward Purchaser’s contact details and closing
date to:
Attention: Robert Herman
Sterling Management Services
10151 100 Street
Ft. St. John, BC V1J 3Y6
(250)785-2829 – Office
(250) 785-2852 – Fax
[email protected]
www.sterlingmgmt.ca
Effective June 30, 2012 WCPG is depositing $7,500 in trust with Sterling Management Services Ltd to
assist purchasers of Strata Lots in renting Strata Lots from closing until January 31, 2013. During the
transition period, 2—bedroom units receive a minimum $1,300 per month.
Details can be found under Purchasing/Closing tab in
Sales section – Rental Stabilization Agreement
PROPERTY TAXES
st
Property taxes are the responsibility of the Buyer and are due the 1 of July each year. Property tax bills
will be delivered in May and the estimates on the worksheet are based on conversations with the City of
Dawson Creek.
Buyers receive credit on closing representing the pro rata amount of tax payable by the Vendor for the
number of months owned in 2012, if the purchase completes before July 1, 2012. If purchase completes
after July 1, 2012 the Buyer will be debited the pro rata amount of tax for the number of months owned in
2012.
City of Dawson Creek Monthly Tax Program -
http://www.dawsoncreek.ca/cityhall/departments/finance/taxes/ This link provides access to
necessary forms and guidelines to assist setting up the monthly payment program.
Details can be found under Purchasing/Closing tab in
Page 9
Sales section – Property Tax Guidelines