BUYER will have to pay transfer tax : 1% on the first $200 000, 2% on the balance.
Get a 50% cash back on the commission if you use an agent that I know email : email@example.com If the selling price is $500 000, the land transfer tax is $8000.00.
SELLER pay commission : 7% on the first $100 000, 2.5% on the balance. All these plus 12% HST tax after July 1st.
Be your own agent. You only pay C$649 plus tax to be listed on the multilpe listing of BC. If an agent bring buyer to buy your house, you only have to pay BUYER’s commission. Take selling price of C$500 000, the commission is about $17000. If you sell on our own, you save either $17000 or $8500 (buyer agent take the other half). A must try email : firstname.lastname@example.org
A good website to check out housing listing is www.mls.ca. Click “advance search”
Rent : If you are not sure where to stay, rent first. However, statistics shows that immigrant always stay at the same city they first rented. It is usually the city that their closest friends or relatives know or stay. It might not be the best choice for your family. Do your own home work and ask around. Get a few opinion before buying.
If you want to know your right as a tentant check out www.tenants.bc.ca
*Please check with your Realtor for accuracy on commission. This is just a guide.