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First Time Buyer Tips Vancouver Episode 6: Disclosure of Representation in Trading Services (DORTS), FINTRAC, Remuneration Disclosure, Privacy & Consent

 Updated June 26, 2019 by Mike Stewart PREC This post is part of a series discussing Tips for First Home Buyers in Vancouver. Remember, there is no such thing as a stupid question! I strongly encourage questions and comments! You've found your Dream Home, What next? You finally found a property you want to buy and you have an idea of what its worth with a Comparative Market Analysis as discussed in Vancouver First Time Home Buyer Tips Episode 5.  You and your Realtor will need to draft up an offer in writing to signal to the Seller that…

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Fintrac

Vancouver Real Estate and FINTRAC

 FINTRAC - What is it? FINTRAC stands for Financial Transactions and Reports Analysis Centre which is where the Government of Canada monitors financial transactions, including Real Estate to fight terrorism and money laundering. What does FINTRAC have to do with Vancouver Real Estate? Vancouver Real Estate costs a lot of money and the Federal Government does not want this money to be coming from or going to criminals or terrorists. In 2008 the legislation that created FINTRAC was amended to require Realtors across Canada to ascertain the identity of their clients. When buying or selling Real Estate in Vancouver…

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