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Available

Courtesy Of
Tim Stanfield Of RE/MAX Kelowna

$636,000

Beds
0
Baths
0

AVAILABLE

Lot

MLS® #10223368

***VERY IMPORTANT -- PLEASE REVIEW SUPPLEMENTS FOR SHOWING DIRECTIONS/FORMS DURING CORONAVIRUS EPIDEMIC. VERY IMPORTANT!*** Recently subdivided building Lot in the Lower Mission on one of the most desirable streets in Kelowna. Sewer is 12 feet down allowing for a full basement with gravity flow-out sewerage (to be confirmed by buyer). This amazing location is a 2 minute walk to Kelowna…
Available

Courtesy Of
Tim Stanfield Of RE/MAX Kelowna

$259,000

Beds
0
Baths
0

AVAILABLE

Lot

MLS® #10223579

***Build your Dream Home in the Country on this flat 0.36 acre Lot in this desirable and fast-growing Fintry Community. This area has seen a lot of growth for good reason as this is now an easy commute on substantially upgraded Westside Road - and there is easy access to this Lot. There is a trend in getting back to…
Available

Courtesy Of
Tim Stanfield Of RE/MAX Kelowna

$1,738,000

Beds
0
Baths
0

AVAILABLE

Multifamily

MLS® #10221557

*VERY IMPORTANT -- PLEASE REVIEW SUPPLEMENTS FOR SHOWING DIRECTIONS/FORMS DURING CORONAVIRUS EPIDEMIC.* Introducing this large new North Kelowna contemporary Duplex! A unique offering due to the size & quality of these two 5 bedroom, 4 bathroom, RU7 Duplexes. Over 2,300 sq. ft. in these open-concept no-carpet homes that are filled with light. These homes have have high ceilings, large windows…


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About Tim & Jayne

TIM STANFIELD has been an award-winning and full-time licensed Realtor® with RE/MAX Kelowna since 2005.

Tim’s working philosophy is to treat his clients the same way he would like to be treated – and that is through mutual respect and professionalism.

Tim’s proven methodology is as follows:

  • Know and understand the local Real Estate Market.
  • Know and understand the client’s needs.
  • Provide the client with as much guidance and information as possible in order for the client to make an informed decision. (*This is vitally important as this can often be the biggest purchasing decision of our lifetime.)
  • Don’t be “pushy” (but define urgency when it is called for), be truthful (which includes admitting when you are wrong – and when you don’t know the answer to a question), provide value,
    knowledge, skills and experience – and do so in a friendly and professional manner.

Tim’s specialty is building long-term relationships with his clients and his colleagues. Tim believes that excellent service, communication and the use of relevant and effective tools (including our highly valued RE/MAX Staff) are the keys to his being a successful Realtor®. The “proof is in the pudding” as most of Tim’s business has come from referrals from past clients and friends as well as from other Realtors® – and Tim’s results speak for themselves (and Tim is extremely appreciative of all the support given to him over the years).

RESULTS:

Tim has received the prestigious RE/MAX ‘Hall of Fame’ Award as well as the coveted RE/MAX ‘Lifetime Achievement Award’. Tim has been involved with the Sales and Marketing of Residential Properties, Commercial Properties, Projects and Multi-Family Buildings. Tim also has over 30 years of International Marketing and Public Relations experience. From 2005 – 2020 Tim has assisted with the sale of over $300,000,000 in total volume Real Estate sales.

HISTORY:

Born in Winnipeg (and at age 50 Tim found his Birth Family most of whom are still based in Manitoba) Tim and his wife Jayne have called Kelowna home since 2002. Prior to that time Tim lived in the UK for 5 years (where he met Jayne) but most of his younger life was spent in the Calgary area. While in Calgary one of Tim’s volunteer highlights was being a Director for the Special Winter Olympic Games in Calgary. Tim was also a multi-year Director for the Casa Loma Community Association in order to support the community he lives in. Tim is currently on the Okanagan Mainline Real Estate Board’s Professional Ethics Committee as he feels passionate about maintaining a high level of ethics and values in his chosen profession and industry. Tim’s other passions include reading, music, animal welfare, motorcycling and motor-racing.

SUMMARY:

Tim feels extremely fortunate to live in the Okanagan Valley and to be able to help others make this incredible area their Home too.

Please let Tim assist you with the selling of your home – and / or assisting you with the finding of your next Home.

*Tim also has a global Network of Real Estate Referral Agents so is able to assist you with securing like-minded professionals for anyone looking to purchase a home / property outside of the Central Okanagan.

 

Jayne Stanfield is Tim’s wife and unlicensed Assistant. Jayne has extensive business administration and management experience and ran her own business for the last 5 years. In the UK Jayne worked within her local community, supporting children and adults with special needs. Jayne is a problem-solver and is very much a “people person” who enjoys working with people.

Jayne & Tim have called Kelowna home since 2002 but Jayne spent all her life prior to this in the central UK.

Jayne loves living in the Okanagan Valley and her passion for the area is infectious!

Buying

The bottom line is that buying real estate in Canada is very easy.

From a residency point of view, if you plan to stay in Canada for 6 months or less each year, the government considers you a non-resident, which means that you can still open a bank account and buy property, etc. If you plan to live in Canada for more than 6 months per year, you must apply for immigrant status.

It is important to note, however, that while the majority of Provinces (British Columbia, Ontario, Quebec, Nova Scotia, Newfoundland, New Brunswick) have no restrictions on foreign ownership of real estate in Canada, some do limit the amount of property/land that a non-resident can purchase. On Prince Edward Island, non-resident buyers must apply to the Island Regulatory and Appeals Commission for land over 5 acres in size, or land with a shore frontage greater than 165 feet. In Manitoba, non-residents are prevented from owning farmland unless they actually plan to move there within 2 years. Non-residents may not own land over 10 acres in size in Saskatchewan, whilst in Alberta they may only own up to 2 plots of land not exceeding 20 acres in total.

Once you have chosen a REALTOR®, secured a mortgage and found your property, an offer is made and once accepted, a deposit is payable. When buying a house in Canada, an offer must be made in writing so that all aspects of the transaction are clearly outlined within the offer. Once you (the buyer) have signed the document, it becomes legally binding. If you withdraw from the offer at this stage, you may lose your deposit and may also be sued. Make sure that every item staying in the property, i.e. carpets, fixtures and appliances, is written on the offer as ‘chattels included’. Your REALTOR® should also insert two clauses stating that the offer will only proceed subject to building inspection and that you as the buyer are able to meet your financial obligations. Once your offer is complete, it will be presented to the seller and negotiations will be made. This may include changes in price, completion date and chattels. The changes are initialed by the seller and returned to you (the buyer) for your initials. The resulting Agreement of Purchase and Sale will state the purchase price and the deposit. The deposit is placed in a trust account and is credited towards the purchase price once the offer has been accepted by both the seller and the buyer and the transaction is complete.

Most REALTORS® are self-employed and are on negotiable rather than fixed commission (payable by the seller). A purchaser can buy property using any REALTOR®, regardless of whether that REALTOR® originally listed the property. There are usually 2 REALTORS® involved in a sale – the seller’s agent and the buyer’s agent. The commission received upon the sale of the property is divided between the 2 REALTORS®. Some agents can also be dual agents but must declare this to buyers and sellers alike.

Buy a home in Kelowna with the Stanfield Real Estate Group today!

Selling

When a non-resident sells Canadian real estate, he/she is required to pay the appropriate amount of taxes on any capital gain. The normal Canadian tax rates will be applied to 50% of the gain. However, a non-resident is required to pay an estimate of the tax before the sale, an amount equal to 25% of the gain. This amount is to be retained by the seller’s lawyer until such time as a clearance certificate is received from the Canada Revenue Agency (CRA) in connection with the sale of the property. Upon payment, the CRA will issue a clearance certificate to the seller, but not until there has been a contract of purchase and sale with all subjects (conditions) removed. The wait for the certificate is usually 6-8 weeks. If the certificate is not obtained, the purchaser is required to withhold from the sale proceeds, a percentage of the selling price (usually 25-50%).

On or before the closing date, the mortgage money is transferred to the seller’s lawyer and then to the seller and the title is transferred to the buyer’s name.

The non-resident seller should file a Canadian income tax return for the year in which the sale occurs and should expect to receive a refund of a portion of the taxes paid. The taxation of Canadian real estate depends on whether the use of the property is for a principal residence, an active business or as a rental property. If it is used as a rental property, a 25% non-resident tax must be paid on the gross rent a tenant pays. However, if you use a professional property manager, the manager will, by law, withhold 25% of the gross rental revenue at source to be remitted to the Canada Revenue Agency. Then on or before March 31 of the following year, the property manager issues an NR4 form and you then have the right to file a Canadian tax return. The tax return is due before June 30 and enables you to claim expenses against that income and potentially request a refund.

Many countries, such as the U.S., have tax treaties with Canada that prevent you from being taxed in both Canada and your home country. It is advisable to contact a tax accountant in your country for more information.

Buy a home in Kelowna with the Stanfield Real Estate Group today!

Welcome

TIM STANFIELD has been an award-winning and full-time licensed Realtor® with RE/MAX Kelowna since 2005.

Tim’s working philosophy is to treat his clients the same way he would like to be treated – and that is through mutual respect and professionalism.

Tim’s proven methodology is as follows:

  • Know and understand the local Real Estate Market.
  • Know and understand the client’s needs.
  • Provide the client with as much guidance and information as possible in order for the client to make an informed decision. (*This is vitally important as this can often be the biggest purchasing decision of our lifetime.)
  • Don’t be “pushy” (but define urgency when it is called for), be truthful (which includes admitting when you are wrong – and when you don’t know the answer to a question), provide value,
    knowledge, skills and experience – and do so in a friendly and professional manner.

Tim’s specialty is building long-term relationships with his clients and his colleagues. Tim believes that excellent service, communication and the use of relevant and effective tools (including our highly valued RE/MAX Staff) are the keys to his being a successful Realtor®. The “proof is in the pudding” as most of Tim’s business has come from referrals from past clients and friends as well as from other Realtors®.

Click here to read more about Tim and Jayne

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