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Private Mortgage Lending: An Alternative for Canadians to Purchase a Home
Private mortgage lending allows Canadians to obtain a private mortgage loan to purchase a property. This type of lending is offered by individuals or mortgage investment corporations and usually has less stringent qualification and lending processes. In this blog post, we will explore what private mortgage lending is, how to get a private mortgage, and…
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Buying a Home in Vancouver: Common Mistakes to Avoid
Buying a new home can be an exciting but stressful time. It requires a huge financial investment and decisions that impact your life for years. To make the process easier, it’s important to get a mortgage pre-approval, choose the right mortgage, work with a real estate agent, and budget for closing costs. Hiring a lawyer…
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Navigating Property Transfer Tax Exemptions in British Columbia
When buying a property in British Columbia, one of the costs to consider is the Property Transfer Tax (PTT). However, there are exemptions available for first-time home buyers, new construction, and related individuals which can help in avoiding the PTT. Understand the criteria for each exemption and whether or not you qualify to plan for…
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Property Transfer Tax in BC
Property Transfer Tax (PTT) is an important consideration for anyone buying a home in British Columbia. PTT is payable upon registration of the property and is calculated based on the fair market value of the property. Understanding the intricacies of PTT is key for successful home ownership in BC.
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What is Title Insurance?
Title insurance protects homeowners and lenders from financial losses that may occur due to defects in the title of a property. These defects can include outstanding liens, lawsuits, and other encumbrances that can affect the property’s ownership. It is a one-time fee paid at closing, and it can provide peace of mind knowing that you…
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A Guide to Understanding Vancouver Property Purchase Fees
Closing costs can be unexpected when purchasing a property, so it is important to set money aside for them. To qualify for a mortgage, buyers will need to provide proof that they have enough funds for a downpayment and closing costs. This guide helps buyers plan ahead and avoid any unexpected surprises when buying their…
Do you have any questions?
This website offers general information and is not intended to replace professional legal advice. If you require legal advice, it is essential to seek guidance from a qualified lawyer in your jurisdiction.