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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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Property Condition Disclosure Statement (PCDS) for Property Buyers in Vancouver – What is it?

 Updated May 8, 2019 by Mike Stewart PREC Get the Docs! When you are preparing to submit an offer on a property or have an accepted offer, you will receive a package of documents from the Sellers Agent giving you detailed information about the property. One of the most important documents is the Property Condition Disclosure Statement. What is it? The Property Condition Disclosure Statement (PCDS) is a disclosure of what a Seller knows about their property. There are several versions of the document (see below - We have only included Strata & Residential versions) which has a series…

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