What costs should you expect when buying Real Estate in Vancouver?
- Home inspection ~$500
- Moving fees (dependant on building)
- Budget ~1% for adjustments
- Conveyancing fees ~ $1000
- Property Transfer Tax 1% on first $200K, 2% on amount from $200K-$2M, 3% on amount from $2M-$3M, 5% on the amount over $3M.
First time Buyers have an exemption under $500K and a sliding scale between $500K-$525K.
Check out this calculator to calculate exact PTT: https://www.bcrealestatelawyers.com/p...
If you have any questions feel free to drop us a line down below or contact us through www.caseyarchibald.com.
What are Assignments? How do Assignments work? What should we expect from Assignments moving forward?
The Greater Vancouver real estate market has seen a tremendous amount of new construction over the years. With new construction comes assignments.
Essentially an assignment is when a purchaser of a property sells their contract to a new purchase before closing on the property. This can happen in both re-sale and pre-sale markets; however, it is much more common on the pre-construction side of things. Not all developers allow assignments, and some developers that do allow them will not allow them to be made public on MLS. Most developers charge an assignment fee ranging from a few hundred dollars to 5% of the original purchase price.
With changes to the local government policy, taxes and a shifting market we are seeing a lot of assignments come on the market.
If you have any questions or would like a video on anything in particular please send us a note at firstname.lastname@example.org or send me a text at 604-363-7858.
Are you hearing about "Subject Free" offers but aren't sure what they mean?
You don't need bags of cash to buy subject free.
You also don't need to risk losing your deposit by going in subject free.
Once you find a home that you like, do your homework! We will help you to do your due diligence and make sure that your mortgage broker is on board.
If you are in multiple offers, you may need to go in subject free to give yourself a chance.
We will make sure that everything checks out before we do that and we will help you write a WINNING OFFER!