With cannabis now legal, Canadian homeowners may cultivate up to four cannabis plants per residence. However, there are many issues related to homeownership, real estate transactions, and growing cannabis in private homes that place homeowners and REALTORS® at risk. A lack of guidance when it comes to remediation concerns, not to mention lenders' and insurers' reluctance to take on the potential problems of a home used for growing cannabis, means that homeowners might be in for an unpleasant surprise when it comes time to sell.
On the other hand, legalization also provides opportunities for REALTORS® to add value as trusted advisors to their clients. To help REALTORS® navigate these uncharted waters, BCREA is launching a series of videos called Conversations on Cannabis. To view the first episode, click the lin below . It features Victoria REALTOR® and CFAX radio host Tony Joe interviewing mortgage broker trainer Dustan Woodhouse on the risks of growing cannabis when it comes to financing, refinancing, and protecting the value of your home. As new videos become available, we'll notify you in In Touch.
BCREA continues to lobby the government for a province-wide remediation program, including the implementation of a five-step process in which a home used to grow marijuana is discovered, inspected, remediated, inspected again, and finally designated a healthy home.
Click Here https://www.youtube.com/watch?v=uJJWP2SJnlA&feature=youtu.be