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Transaction Costs




Closing  costs to the sellers


1-Lawyer or Notary Fees and Expenses:

-attending to execution of documents.

2-Costs of clearing title, including:

-discharge fees by encumbrance holders,

-prepayment penalties

3-Real Estate Commission.

4-Capital Gain ( if applicable)




Closing  costs to the Buyers


1-Lawyer or Notary Fees and Expenses:

-attending to execution of documents.

2. Property Appraisal Fee

3.Land Survey ( if applicable)

4.Property Purchase Tax ( Property Transfer Tax)

5.Good and Services Tax (New Homes)

6.CMHC or Genworth Premiums ( non conventional mortgage)

7.Foreign Buyers Purchase Tax ( 20% in most of of BC)




Property Transfer Tax ( Property Purchase Tax)


Property Transfer Tax. Home buyers in BC pay a provincial Property Transfer Tax (PTT) when they buy a home. The tax is charged at a rate of 1% on the first $200,000 of the purchase price and 2% on the remainder up to and including $2 million. The PTT is 3% on amounts greater than $2 million.,


To qualify for the First Time Home Buyers' exemption you must meet all of the initial eligibility criteria. To retain the exemption, there are also requirements which must be met in the year following the transfer. For complete information on all of the eligibility criteria, please see:

To claim the exemption you must file a First Time Home Buyers' Property Transfer Tax Return (FIN 269) and the appropriate Land Title forms at the Land Title Office when you apply to register your property.


If you do not qualify at the time of registration, but you meet all the requirements by the first anniversary of the registration date, you can apply for a refund of the tax paid. Applications for refund must be made within 18 months of the registration date.






Loan-to-Value Premium on Total Loan Premium on Increase to Loan Amount for Portability and Refinance
Standard Premium Self-Employed without 3rd Party Income Validation Standard Premium Self-Employed without 3rd Party Income Validation**
Up to and including 65% 0.50% 0.80% 0.50% 1.50%
Up to and including 75% 0.65% 1.00% 2.25% 2.60%
Up to and including 80% 1.00% 1.64% 2.75% 3.85%
Up to and including 85% 1.75% 2.90% 3.50% 5.50%
Up to and including 90% 2.00% 4.75% 4.25% 7.00%
Up to and including 95% 2.75% 6.00% 4.25%* *
90.01% to 95%
Non-Traditional Down Payment***
2.90% N/A * N/A
Extended Amortization Surcharges
Greater than 25 years, up to and including 30 years: 0.20%
Greater than 30 years, up to and including 35 years: 0.40%






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Mike Shafie (604) 2301000