From Taxes to Travel to Transactions - stay organized

Summer in BC means more than sunscreen and lake days, it also brings deadlines, wildfire risk, and a busy real estate market. As your trusty mortgage team, we’ve rounded up a few hot tips to help keep your summer stress-free and your home financing on track.

1. BC PROPERTY TAXES DUE JULY 2

Mark your calendars homeowners, property taxes in BC are due Tuesday, July 2. If you’re unsure whether your lender pays your property taxes on your behalf, or if this responsibility falls to you, please reach out to us. A quick check can help you avoid unnecessary penalties or missed payments.

If you haven't yet received your property tax notice, reach out to your municipality, or if you live in a rural area, reach out to the Province of BC at 1-888-355-2700. You may also want to check out the Province of BC's FAQs, City of Nanaimo's FAQs , or your own municipality's website for more info!

If you’re eligible for the BC Home Owner Grant, don’t forget to apply. The grant can reduce the amount of property tax you owe, but it must be claimed annually, and it's your responsibility to apply, even if your lender pays the taxes on your behalf.

2. SUMMER VACATION PLANS? LET US KNOW IN ADVANCE

If you’re buying, refinancing, or renewing, please inform us of any upcoming travel plans as soon as possible. Mortgage documents must be signed in person at the solicitor or notary’s office. Being out of town without proper planning could result in costly delays or missed deadlines. With notice, we can coordinate timelines accordingly and implement creative solutions to avoid any disruptions.

3. SECURE INSURANCE EARLY DURING WILDFIRE SEASON

If you’re purchasing a property this summer, we strongly recommend securing your insurance policy as soon as possible after subject removal. During wildfire season, insurance providers may place temporary restrictions on issuing new policies in certain areas. Early binding can prevent last-minute complications, or even delays in closing.

4. PRE-APPROVAL: YOUR SUMMER SUPERPOWER

Summer is one of the busiest times of the year in real estate. A current pre-approval not only gives you clarity on your budget but also strengthens your position as a buyer. We also provide financing letters that you can include with your offer to show sellers you're serious and qualified. It’s like giving your offer a built-in boost of credibility.

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Enjoy the sunshine, but don’t let the season catch you off guard. Whether it’s taxes, timelines, or tackling the market, we’re here to help you stay organized and informed. Let’s keep your summer on track and your mortgage stress-free.

If you have any questions about your taxes, insurance, travel plans, or pre-approval status, don’t hesitate to get in touch.

OAC, E&O