Salt Spring Lawyers Notice of BC real estate taxes; The general property transfer tax applies to all taxable transactions. The general property transfer tax rate is: Further 2% on residential properties over $3,000,000If the property has residential property worth over $3,000,000, a further 2% tax will be applied to the residential property value greater than $3,000,000. …
What are “aggregate days on the market”? On the Victoria Real Estate board an agent can “Re-List” a property for a mere $25 fee. An example would be if a home has been listed on the board for 180 days the listing can be taken off the market and then “Re-Listed” and appear to be …
The process of foreclosure on Salt Spring Island in the province of British Columbia; A mortgage is not a loan. It is an interest in land created by a contract as security for a loan made by a lender to the borrower. In BC a mortgage is both a personal guarantee to repay the debt …
Instead of the usual NIMBY, We (Salt Spring) can help solve Salt Spring’s affordable housing crisis one person at a time by taking IMBY action. Salt Spring has studied the problem to death but there is little action on solving the basic problem of affordable homes for people who live on the island. The island …
How to solve Salt Spring affordable housing problem Read More »
Is GST applicable on the sale of this property? I get asked all the time and do not usually know the answer. GST can be complicated. Here is an article from BCREA bulletin. REALTORS® should be aware of the pitfalls involved in whether Goods and Services Tax (GST) is payable in a real estate …
Is there GST on the Sale of this Salt Spring ____ ? Read More »
It’s not as if there are hundreds of new Salt Spring homes on the market but every year there are 10 or so. Some are built as spec homes and some are owner-built homes. In BC all builders who build new homes must be licensed by BC Housing and all new homes must have 3rd …
