Financing for real estate deals can be obtained through your bank or credit union. NIHO does offer limited financing for select properties only – click here for more details.
Sometimes the banks or trust companies will not finance certain properties, such as recreational or developable land. In that case, private individuals and specializing mortgage companies may be able to help you.
Do you have any other questions related to financing?
Many of the properties that Niho offers lies well beyond where traditional services can offer their services, and you should keep this in mind when deciding what type of property you wish to purchase.
If you are looking at living on your property, you will need to consider water, power, sewer, phone, and cable.
Sewer and Municipal Water services are offered through municipal governments, and they usually do not offer services beyond their boundaries.
Crown land is the property owned by the Province. The majority of land in British Columbia is Crown land. Provincial Crown land includes provincial parks and other protected areas, Crown forest lands and non-forested Crown land. The majority of provincial Crown land, about 59 million hectares, is public forest land.
While Crown land is not available for residential cabins in remote areas, they do from time to time put Crown land on the market.
A subdivision is a larger parcel of land, usually several acres, which can be subdivided into a number of residential building lots, is also considered a commercial activity, as it is done as a business, the business being the development and subsequent marketing of the land for profit.
There are five types of subdivisions in British Columbia. Fee Simple is a land estate in which the owner is entitled to the entire property.
ALR stands for Agricultural Land Reserve. Created in April 1973, this sets aside the province’s most valuable agricultural lands for farming. 4,709,676 ha, or 5% of BC is designated as being in the ALR.
The following are the land uses permitted in the ALR according to the Agricultural Land Commission Act:
Zoning is defined as the strict guidelines set and enforced by municipal governments regulating how a property may or may not be used. These guidelines do differ from region to region. You or your realtor will need to check with the municipal government or the regional district to find out which zoning applies to your property.
There are different guidelines that may apply to a property. These can include:
Zoning by-laws –
A legal description is a written description of where exactly the property is. This is based on the survey systems that have been carried out over the past 100 years.
DISTRICT LOTS: District lots are the most common of the legal systems found in BC. Generally speaking, a district lot is one mile by one-mile square, and has been marked out and recorded with a unique district lot (DL) number. Early in the century,