What is inheritance tax? It should be noted that there is NO inheritance tax in Canada as of 1972, however a provision on capital gains was added. What CRA does is it treats the estate as a sale, unless the estate has been inherited by a living spouse or common-law partner. And of course, there…
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Tony Spagnuolo, President of Spagnuolo & Company Real Estate Lawyers explains what you should look for when reading a title search in British Columbia. How to read a Title Search “Today we're going to talk about how to read a title search, what the information is that's on there that's common anyway, we're going to…
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Reading Strata Docs Continued... Let's continue on where we left off. Reading strata docs can be challenging and hopefully this information will help to guide you smoothly through this process to ensure that you are making an informed decision when buying a condo. Title Search Next up we have title searches, they're pretty hard to…
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Are you aware that there is a new tax called Speculation Tax? This is different than empty homes tax, and requires you to apply in order to be exempt. If you do not, you will be automatically charged 0.5% for Residences and 2% for non-Residences. There are a number of qualifications that you must meet…
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Home listings increase while buyers remain in holding pattern In metro Vancouver buyer activity continues to remain under historical averages. While this may be the case, home listings continue to increase. What does this mean for the Vancouver market? Is this a buyers market? The Real Estate Board of Greater Vancouver (REBGV) REBGV reports that…
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Are Liberals really looking to make home-buying more affordable for millennials? Home prices have soared over the past decade. This has proved to be a difficult time for fist time home buyers. How does this provide an opportunity for the younger generation to enter into the housing market? Quick answer, it doesn't. Is there a…
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Do You Know the Major Differences Between Common Property & Limited Common Property? Thankfully, we do and are here to help and inform you in every area of Real Estate. When purchasing a condo or an apartment you are purchasing an interest in land and becoming a tenant in common. Common property is owned collectively…
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Would you like to own a $1.7 million mansion for $25? Are you in a position where you are bathing in millions of dollars? Or do you find it hard to imagine having the funds to afford a multi million dollar mansion? You have to be well established in your career and have your finances…
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Luxury Home Sales Plummeted in 2018! Don't think that the decline in sales in the Vancouver market is only affecting one section. Luxury home sales are taking a decline as well, actually even more so. Homes that sold for over $1 million fell 26% to 3,151 units sold in 2018 from 4,282 units sold in…
Read MoreMetro Vancouver home sales in 2018 were the lowest annual total in the region since 2000. How low can sales go? Seriously, how low can real estate sales go? This really is the age old question, but don't worry, it hasn't been projected that anyone is going to sell there house for zero dollars…
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