Category: Property Transfer Tax

Property Transfer Tax
25
Nov
By Peter Borszcz / Buyers, Property Transfer Tax / Property

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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Unfortunately, and often due to a series of unfortunate events, some owners find themselves unable to afford their home and in some cases being forced to sell at a loss There are a number of different ways for this to occur: A Short Sale with Seller Bringing in Cash to Complete This type of transaction occurs w...

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When the province announced the new First Time New Home Buyers Rebate associated with the HST rebates, they tightened the definition of "First Time Home Buyer" (see my post here for more information on the rebates) This tighter definition indicates that the government is looking more closely at (ie; auditing) who is a ...

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I must admit, I love watching the HGTV show "Property Virgins", and seeing the excitement of first time home buyers fulfil their dreams of home ownership is one of the best things about my job In British Columbia, real estate prices (compared with much of Canada) are high relative to average income, which increa...

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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...

Continue Reading