In mid-November 2021, we signed the purchase agreement for a plot of land in Lund. I have already described how this came about. But a lot happened from the signing of the purchase agreement to the transfer of ownership in January 2022.
Contract of Purchase and Sale
When you want to buy a property in British Columbia, you make an offer on an advertised property (listing). The seller can accept this offer directly or submit a counter offer. If both sides agree, the contract of purchase and sale is created. We went through the whole process in November 2021 and ended up buying a 5-acre property at the Upper Sunshine Coast.
The purchase contract defines the key points of the agreement: Who is selling to whom? For what price is the property being sold or purchased? When does the transfer of ownership take place in the form of an entry in the land register (title)?
Subjects
The purchase agreement also contains possible contractual reservations (subjects). These subjects are points and/or open questions that the buyer and/or seller must clarify by a defined point in time (subject removal date). Only if all Subjects are clarified by the agreed subject removal date, the further process up to the registration in the land register starts.
In our case, there were two Subjects needing removal: financing and clarification of the feasibility of a septic tank on the property. We were able to successfully eliminate both subjects by the subject removal date.
Title
Once the subject removal date is reached, the Closing Date is the next milestone. By this date at the latest, you are sitting in a notary's chair and signing the papers that initiate the land register entry. Up until the closing date, the broker and notary, as well as the bank and notary, communicate with each other to resolve outstanding issues and draw up the necessary paperwork. Buyer and seller are not actually involved here.
By the closing date, we – and also the commissioned notary – lost numerous hairs that had previously turned gray. Both bank and realtor kept throwing new stumbling blocks in our way. From bank incomplete documents that were designed for the purchase of residential property and demanded irrelevant or inapplicable information, to missing information on the part of the seller about insurances that turned out to be optional in the end, to the fact that the converted caravan standing on the property was not registered to the land and therefore officially not included in the purchase unless buyer and seller explicitly state this again in an addendum to the contract.
Nevertheless, in mid-January 2022, before the contractually agreed closing date, we manage to sit down at the notary's office and sign the pile of paperwork, which will cause the land register entry to be changed a few days later. We are now officially owners of land in Lund.
Cabin
For the year 2022 we have planned to build a cabin on the acquired property. By our own hands. Let's see what that will be. But let's be honest: How hard can it be! A bit of wood, a few nails ...
Cabin Playlist
Music is Emotion. Music holds Memory. This is the soundtrack for the build of our Cabin at the Upper Sunshine Coast.
So finden wir jederzeit zurück zu den Momenten voller Herausforderung, Freude und Zufriedenheit.
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Cabin-Blog-Zeitleiste
All our posts about RITICOLO Cabin have been organized in this fancy looking timeline. Pretty cool, eh! Have fun looking around and leave a comment if you enjoy what you are reading.
Trees, a Wood Stove, Lumber and Paws
Vapor barrier - cabin interior
Thermal Insulation and What it Takes to Get There
Roof – The big Finale
Roofing for Dummies
Roofing - shingles or metal roof?
Cabin - New Year Progress
Cabin Timeline
Roofing – Part Two
Roofing - Part One
Gable Walls and LVL
Lofts
Header Beam – Ein dicker Balken, der alles zusammenhält Zum Bau der Außenwände hatten wir…
Things we learned so far
Framing the Cabin
Basecamp
From concrete piers to the finished subfloor
It's amazing what you can accomplish in a few weekends. During the construction of our
Demolition, Homework and some Problems
Progress - Getting Rid of Stuff
First Steps in Lund
On the February long weekend (Family Day), we pack up our MINI and head to our
