Category: Buyers

By Peter Borszcz / Buyers, Tenants /

Buying a home with existing tenants involves a few additional obligations on buyers and sellers as there is another party involved (the tenant), and there are additional provincial laws that appy (the Residential Tenancy Act) Prior to considering the purchase of a rental property buyers should ensurea) that the ...

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By Peter Borszcz / Buyers, First Time Home Buyers, Strata /

Most people think of condos when they think of strata property, however in British Columbia, strata property can include detached and semi-detached homes, apartments, and even bare land The Strata Property Act imposes rules on the home owner which regulates the home owners use of the lands The rules can include pet res...

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By Peter Borszcz / Buyers, Lease, Native Land, Realtors, Sellers /

At common law, in British Columbia, land tenures can be generally divided into two large catagories, fee simple land and leasehold landsFee simple lands (also called freehold lands) are lands where the owner owns all the property rights associated with thoses lands, except the rights which are reserved for the Crown (f...

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By Peter Borszcz / Buyers, Property Transfer Tax /

For most out of province buyers, finding out about Property Transfer Tax often comes as an unpleasant shock Property Transfer Tax is charged on every transfer of freehold title in the Province of British Columbia as is calculated as 1% of the first $200k and 2% of the remainder of the Purchase Price This means a $30...

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