Frequently Asked Questions for Lot Purchases and Townhome Purchases

FAQ

FREQUENTLY ASKED QUESTIONS FOR LOT PURCHASES
FREQUENTLY ASKED QUESTIONS FOR TOWNHOME PURCHASES

FREQUENTLY ASKED QUESTIONS FOR LOT PURCHASES

1. If I buy a lot, do I have to build a home on it within a certain period of time?
At Pine Ridge Mountain Resort there is no "Building Commitment". We have designed the resort this way so homeowners have the option of purchasing the land now and then building when the time is right for them.

2. What if I buy a lot and then decide not to build at all? Are there any restrictions on my ability to sell it?
Once you own the lot you can sell it at any time. There are no restrictions on selling your strata lot.

3. May I leave my RV on my lot?
No.

4. What is the difference between a “strata” lot and a "fee-simple" lot?
Being part of a Strata Corporation gives you the control of the ongoing maintenance of your roads, water and sewer and all of your internal infrastructure. This way you are not reliant upon a municipality maintaining your investment.

5. Can my neighbour cut down all this trees?
Your neighbour can cut down his trees only within the building envelope of his home and his driveway. The District of Invermere has a bylaw in place to protect trees over 15cm in size.

6. Who do I call if I have a problem with either the water or sewer system?
The Strata Corporation will hire a third party utility company to manage your sewer and water system. The will be available 24 hours/day.

7. Are there architectural controls and minimum size requirements for building?
Yes, a Building Scheme must be followed to ensure an Alpine Theme and minimum square footages must be adhered to.

8. When will the Resort Centre and the pool be open?
Construction for the resort center, fitness facility, pool and all the other amenities is scheduled to be completed in 2010.

9. Are there Pine Trees at Pine Ridge Mountain Resort and do I have to worry about Mountain Pine Beetles?
Pine Ridge Mountain Resort is covered in a mature Douglas Fir Forest that is not susceptible to the Mount Pine Beetle.

10. How long does it take to get to a beach from Pine Ridge Mountain Resort?
You can walk to a public beach in less than 20 minutes or drive in less than 5 minutes (we recommend you walk).

11. How close is Panorama Ski Resort for skiing?
Panorama is a 25 minute drive from Pine Ridge Mountain Resort.

FREQUENTLY ASKED QUESTIONS FOR TOWNHOME PURCHASES

1. Are your townhomes fractional or whole ownership?
The Chalets of Canyon View are whole ownership Townhomes with an optional rental pool.

2. If I go into the rental pool, can I take my townhome out of it at a later date?
Our rental pool program has a 5-year commitment. After the 5 years, you have the option of removing your townhome from the program.

3. Is the Rental Pool Program a rotational program or is it a shared program?
Our Rental Pool Program is a true shared revenue program where all of the revenue is pooled then divided between all of the participants equally regardless of whether your actual townhome was rented or not.

4. What expenses do I pay and what expenses does the Rental Management Company pay?
As an owner you are required to pay your taxes, condo fee, amenity fees and any debt servicing costs you may have. The management company pays all of the marketing costs, staff, cleaning, security and management and accounting costs.

5. When do I get my revenue cheque?
The owners’ portion of the revenue is either deposited directly into their accounts or mailed on the 20th of the next month.