In Greater Vancouver Real Estate we know there are many pre-construction, pre-sale home buyers and investors alike. We also know many of these buyers see gains on their property value before the development is built and often sell which is called assigning a contract. It is very important as a Vancouver Realtor to know the…
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When it comes to Family Property Tax Transfer Exemptions, there are a few key criteria that need to be met. Generally, there are a few situations with Property Transfer Tax where tax exemption occurs. This blog is with respect to tax exemptions for transfers of principal residences between family members. Key Criteria for Family Property Tax…
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What is the CMHC First Time Home Buyer Incentive? The CMHC First Time Home Buyer Incentive is a program that helps qualified first time home buyers purchase a home through an interest free loan and reduced mortgage payments. The program reduces the financial burden in purchasing a first home. The First Time Home Buyer Incentive…
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What is Second Closet? Second Closet is an innovative and technology based storage service company disrupting the self storage industry. The company picks up, stores and returns items for as low as $3 per month. The prices and service are unbeatable in comparison to their competitors. No longer are the days of moving boxes into…
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What is a Stigmatized Property? A stigmatized property is one that has had an event occur that is considered a stigma or a potential stigma to buyers. Examples of a Stigmatized Property A list of potential stigmatized properties: Belief that house is haunted Death of an occupant (murder, suicide, natural causes) Divorced house Seller has…
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When you take on a mortgage for a property, you may not think ahead about the worst case scenarios. However as financial situations change and you find yourself facing a foreclosure on your home, you face a difficult situation in life. Foreclosures are a long and straining process emotionally and financially for homeowners. This post…
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Homebuyers of new or presale homes for real estate in BC may be wondering about the GST New Housing Rebate. Questions like, “Who pays the GST?” or “Do I Qualify for GST New Housing Rebate” come to mind when buying new or presale homes. If you're looking to buy a new or presale home in…
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The stats are in and here is the Vancouver Real Estate Market Monthly Update November 2019 from REGBV. Homes Sales Return to Historically Typical Levels “After a quieter first half of 2019, home buyer activity has returned to more historically typical levels in Metro Vancouver. The Real Estate Board of Greater Vancouver (REBGV) reports that residential…
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What is Title Insurance and Why You Should Care: Title Insurance is put in place in order to protect the lender from fraud in a variety of areas. Some of the most commonly known areas include: con artists, borrower fraud, & lawyer and notary defalcation. There is often a lot of trust involved in these…
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BC Home Sales Finally Improve Home sales had not had an increase in Greater Vancouver for over a year and a half. That cycle was finally broken in July with a sharp 22.6% increase in sales for the Greater Vancouver area and a total increase of 12.4% for the Province of BC over the last…
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