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How to Buy a First Home 15 – Subject to Inspection & The Contract of Purchase and Sale

 First Time Home Buyer Safety - Subject to Inspection in the Contract of Purchase and Sale! In Episode 14, we talked about Subject to Financing and how this is a powerful way to protect a first time home buyer when it comes to financing. Today we are going to talk about the Subject to Inspection clause in the Contract of Purchase and Sale and how this can protect a new home buyer in Vancouver. What is an Inspection When Buying a Home in Vancouver? An Inspection or Home Inspection as they are commonly referred to in Vancouver is when…

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Property Transfer Tax (PTT) and Vancouver Real Estate

 *** Looking for a PTT Calculator? Check out the BC Property Transfer Tax Calculator! *** I get questions all the time about BC's Property Transfer Tax and how it applies to Vancouver Real Estate. Here's a simple explanation. BC's Property Transfer Tax - What is it? Property Transfer Tax (PTT) is a British Columbia tax on the sale or transfer of ownership of any residential real estate property in the Province. How Much is the PTT? BC's PTT rate is 1% on the 1st $200,000 and 2% of the balance of the purchase price of any property sold in…

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