Notice of BC real estate taxes;
In BC you have to pay the Provincial Property Transfer Tax (buyer pays) which is 1% of the first $200,000 and 2% on the balance.
HST is federal tax, payable on all newly created building parcels, new homes, and certain properties held for resale. Most properties, particularly used homes, on Salt Spring, will not be subject to HST unless it was a vacation rental property and might be subject to full HST.
Customary Closing costs;
Seller
Lawyer or Notary Fees and Expenses
- attending to execution of documents
Cost of clearing title, including:
- discharge fees charged by encumbrance holders (mortgage)
Real Estate commission + HST
Buyer
Lawyer or Notary fees and Expenses:
- Searching title,
- Investigation of title,
- Drafting documents,
- Land title Registration fees
Survey Certificate (if required)
Cost of Mortgage, including:
- Mortgage company's Lawyer/notary
- Appraisal (if applicable)
- Land Title Registration fees
Fire Insurance Premium
Sales Tax (if applicable)
Property Transfer Tax
HST
Some Salt Spring Island and or Victoria Lawyers;
Fisher, Murphy and Woodward
Lawyers
Tel 250-537-5505
Fax 250-537-5099
Joyce, Paul B
Lawyer
Tel 250-537-4413
Fax 250-537-5120
McKimm & Lott
Lawyers
Tel Sidney BC 250-656-3961
Tel SSI 250-537-9951
Pasuta, James D
Lawyer
Tel 250-537-9995
Fax 250-537-9975
Morningside Law
Lawyer
Wynona Elizabeth Cook
Tel 250-653-9966
Fax 250-653-944
Mullin DeMeo
Brendan Piovesan
Lawyer
Toll free 1-877-477-3327
Tel 250-477-3327
Fax 250-477-0980
Email brendan@mdlawcorp.com
www.realestatelawvictoria.com
This is list of Salt Spring Island and or Victoria Lawyers and Notary Public you could use for your real estate transaction. You may already have a BC Lawyer and that is fine. I do not guarantee or endorse any of the above Lawyers.
Cheers
Scott Simmons
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