Buyers

Buying a Home - 

I specialized in specific segments (condos, detached houses, etc.) and geographical areas.  I can give you the information and advice that you need to reduce the stress in the buying process and help you make informed decisions.

Buyer’s Transaction Costs:

  • Inspection
  • Appraisal ( If required for Financing )
  • Lawyer or Notary Fees and Expenses including :

-Searching Title
-Investigating Title
-Survey Certificate ( If required )
-Drafting Documents
-Land Title registration Fees
-GST on legal fees (5%)

  • Insurance
  • Property Transfer Tax ( 1% of the first $200,000; 2% of the Balance up to $2 million, 3% of any amount between $2 to $3 million & 5% on all amounts over $3 million )
  • Foreign nationals and foreign corporation are required to pay an aditional 20% foreign buyers' tax in addition to the property transfer tax as  above on all residential properties.
  • GST 5% on all new homes (new construction)

** This is by no means an exhaustive list, but it will give you an idea of some of the additional costs associated with a Real Estate transaction.

BC Property Transfer Tax

Whenever one purchases a home in BC, the Property Transfer Tax likely applies to the transaction. For more information please visit the Goverment of BC's information website.

 

BC Vacancy and Speculation Tax

Residential properties in the Province of British Columbia that are left vacant will likely be subject to the Vacancy and Speculation Tax  For more information, please visit Government of BC's website here.

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