BCREAOther Consumer awareness took a step forward with the announcement of new requirements for real estate contracts. Following on a promise made by Premier Clark in March, as of May 16, 2016 the government will require contracts prepared by real estate licensees to include clauses stating that the contract cannot be assigned without the written […]
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Other Here is what we know: 1. There are no changes to the first time home buyer exemption limits; 2. All buyers (whether first time buyers or not) no longer pay PTT on purchases of NEW homes up to $750,000 in value; note the buyer must be a Canadian citizen or a permanent resident; there […]
Matt MaurerOther The Ontario Superior Court has once again underscored how completing a seller property information statement (SPIS) can be a risky move for vendors. When it comes to the purchase and sale of real estate the starting point for any analysis is “buyer beware”. For those looking to impress at cocktail parties, the specific […]
Other While you cannot leave a property to your spouse without paying tax, there is an avenue available where a bequest can avoid the clutching hands of the U.S. Internal Revenue Service. “A marital deduction is available for assets which pass to a spouse who is a U.S. citizen,” Robert E. Ward, J.D., LL.M., of […]
RECBC NewsOther The Council has become aware that some owner-built homes in the province are being offered for sale illegally. Are you confident that the homes you are helping clients to buy or sell can be legally sold? Before a property owner builds their own home, or substantially reconstructs their own home, they must apply […]
Jennifer CleeOther Waterfront properties with private docks may not comply with the Ministry of Forest,Lands and Natural Resources guide lines – please read before you build Jennifer CleeB.A., LL.B. Waterfront properties with private docks are looking attractive at this time of the year, particularly with the weather we’ve been enjoying this summer. Licensees involved in […]
Olivia D’OrazioOther If you’re looking for those guilty of breaking TREB’s new rules on sharing sold-data, you need look no further than a growing number of agent flyers. “You’re not allowed to disclose the price,” says Ken Ramsay, an agent in Toronto who has seen this kind of illegal marketing in his own neighbourhood. “I […]
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