SHOWN BELOW IS A LIST OF STANDARD EXPENSES TO CONSIDER WHEN PURCHASING OR SELLING REAL ESTATE IN BRITISH COLUMBIA.

LAND TRANSFER TAX

• The land transfer tax is a one‐time tax levied by your province when you purchase a property.
• The tax is based on a percentage of the purchase price of the property, and varies from province to province.
• Some municipalities also charge a land transfer tax 

ASSOCIATED LEGAL COSTS

• Legal costs cover your lawyer’s fees or your notary’s fees.

• Lawyer or Notary will review the terms of the offer

• Conducting a title search on the property

• Registering a new title with purchaser names on it
• Obtain relevant documents, such as surveys and evidence of liens on the property
• Check the statement of adjustments for taxes and other costs that have been pre‐paid by the seller

PROPERTY INSPECTION

• A home inspector assesses a property’s condition preferably before Subject Removal
• Inspector will identify what is not working properly, needs to be changed, or is unsafe.
• Inspector will identify where there have been problems in the past, such as a leaking basement or termite damage.

OTHER POSSIBLE COSTS

• Interest adjustments between date of closing and first mortgage payment
• GST/HST on a new home or a home that’s been extensively renovated
• Title insurance coverage for losses related to title fraud, survey issues and challenges to the ownership
• Service charges from utility companies for hook‐ups on electricity, gas, internet and telephone services
• Appraisal fees
• Moving costs
• Storage costs if you must leave your current residence before you are able to move into your new home
• Furniture and appliances
• Real estate commissions

CONTACT ME TO DISCUSS YOUR RELA ESTATE NEEDS

Mobile:      604.828.3847

eMail         rwhite@sutton.com