BC’s Property Transfer Tax

What is it? It’s easy to look at the purchase price of your prospective new home and forget about all the closing costs like home insurance, appraisal and legal fees, and taxes. As a homebuyer, when you purchase a property you will also be paying a tax on the sale or transfer of ownership of any residential… read more

What is a Statement of Adjustments?

Understanding what will happen on closing Whether you are buying, selling, or refinancing a home, you will come across a Statement of Adjustments when closing time comes. This document, prepared by a lawyer or notary, clearly lays out the purchase price, deposit, taxes and other financial obligations of the transaction for both the buyer and… read more

BC’s New Real Estate Registry

Aiming to return fairness to the housing market In a move to crack down on tax evasion through property and end the practice of hidden real estate ownership, BC has introduced a public registry to track the purchase (and flipping) of pre-sale condos. This unique registry is the first database of its kind in Canada… read more