What expenses and potential taxes do I need to pay if I’m buying a property?
There are a number of typical expenses and taxes that’ll be applicable to your real estate purchase in BC. You will have to prepare to pay for expenses such as lawyer or notary fee, mortgage financing fee if applicable, professional home inspector fee, appraiser fee if required, moving expense, strata building move-in fee if applicable, adjustment for annual property taxes and maintenance fees to the day of your completion (Buyer’s pro-rated %), and taxes such as the property transfer tax PTT and goods and services tax GST with varying amounts/calculation.
Eg
Lawyer fee $1,600
Mortgage financing (varies)
Home Inspection
Home Appraisal
Moving company
Move-in fees (if strata)
Portion of annual property tax
Portion of pro-rated strata fee
PTT Property Transfer Tax
GST Goods & Sales Tax
Posted by Pinpoint Listings Marketing Group on
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