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What is a Pre-Sale in Vancouver Real Estate?

 Pre-Sales in Vancouver, British Columbia Canada Open the Georgia Strait or any other local paper and you'll notice advertisements for apartments and condos. Most of these places don't yet exist. Why? Because they are pre-sales! What is a Pre-Sale? A pre-sale is when a Developer sells a Buyer a property before that property is built or completed. The Buyer purchasing the pre-sales is buying the right to a completed property that will be built in future. In the UK and elsewhere Pre-Sales are referred to as Off Plan Investments. Why do people buy Pre-Sales? Pre-sales are popular with investors…

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Harmonized Sales Tax (HST) and Vancouver Real Estate

 Hi All, I have been getting A LOT of questions about The British Columbia Government's new Harmonized Sales Tax and how it will affect Vancouver Real Estate. 4 Quick Facts on BC's proposed new 12% HST effective July 1, 2010: It only applies to BRAND NEW properties and is paid when the property completes at the Land Titles Office.  The HST is NOT PAYABLE on re-sale properties or used properties. Increase in the maximum threshold for rebates on HST from $400,000 to $525,000; The maximum rebate will be increased to $26,250; Transitional rules will apply - if you enter…

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