 |
||||
|
Purchasers in most large Canadian centers can add Land Transfer Taxes to their list of closing costs. Below you will find a Land Transfer Tax Calculator for the province of British Columbia. |
||||
There currently is an exemption for first time buyers but there are a number of requirements to qualify, including: * Must be the purchase of a principal residence; * The purchaser must be a Canadian citizen or permanent resident of Canada; * The purchaser must have resided in the province of British Columbia for at least one year immediately prior to the application to register the purchase of the principal residence; * The purchaser must not have previously owned an interest in a principal residence anywhere in the world; * The fair market value of the land and improvements must not exceed $275,000 within the Capital Regional District, Greater Vancouver, Central Fraser Valley, Dewdney-Allouette and Fraser Cheam and $225,000 if the property is located elsewhere in the province; * The amount borrowed to finance the purchase, and registered against title, must be 70% or greater of the fair market value; and * The amount borrowed must have a term of at least one year. These are major requirements which should be reviewed with your realtor, lender or lawyer to ensure that you qualify. |
||||
|
|
Lynne Smith |
||
| lynne@vernonhomes.com | ||
 |
||
Royal Lepage - Downtown Realty Vernon |
||
|
4007 32nd Street, Vernon, British Columbia V1T 5P2 |
||
|
Cell 250-938-0404 |
||
|
Fax 250-542-3381 |
||
|
toll free 1-888-743-2111 |
||
|
Royal LePage DTR 250-545-5371 |
||
|
|
©1999-2026 CRWork.com®. All Rights Reserved. |
|
|
The material provided in the pages of this website is for informational purposes only. Although the site owner and creators assume the information to be correct, and attempt to keep information in the pages of this website as current as possible, they do not warrant the accuracy or completeness of any information included in or linked to this page. |