When buying a property with a strata, there are several documents to read before your purchase. Buyers should read through these documents to determine the status of the strata and make an informed purchase decision. Today, we will run through how to review strata documents as a buyer and what you should look for in…
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So you want to buy a home for the first time? Buying a home is a big decision and one you want to take seriously! There are many factors to consider when buying a home, especially when it’s your first time. Here are 5 general factors to start thinking about if you are looking to…
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When purchasing a new home, you need to be aware of the Goods and Services Tax (GST). This blog includes some quick facts about GST and available rebates to get you familiarized with the tax. 1. GST is 5%. GST is quite straightforward. It is 5% of the purchase price. 2. The tax applies only…
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What is strata insurance? Strata insurance is the coverage provided for properties and liabilities within a strata. In accordance with the Strata Property Act, strata corporations are required to obtain and maintain property insurance and liability insurance. What does strata insurance include? Strata insurance typically includes coverage for common property, common assets, buildings shown on…
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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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