Understanding who pays the SVT in a transaction REALTORS® don’t have to worry about including a clause in a contract of purchase and sale that specifies that a buyer won’t be held liable for the Speculation and Vacancy Tax (SVT). Here’s why: When a buyer purchases a residential property, they will either pay the Property
Invasive species come with a series of problems, especially if you’re not aware of the risks. Whether you’re a REALTOR® conducting business on Vancouver Island, or northern BC, understanding what invasive species are found in your area is the first step in helping your client avoid those risks. Your knowledge can guide them to make
Join BCREA’s board of directors Are you interested in what’s going on with the real estate profession? Do you follow the latest developments in real estate and talk to others about the future of real estate practice in BC? If so, the British Columbia Real Estate Association is looking for you! We are looking for
<span data-sfref="[images|OpenAccessDataProvider]e5da55c4-e066-6a4c-a700-ff00008c8d26" class="sfImageWrapper"><span data-sfref="[images|OpenAccessDataProvider]e5da55c4-e066-6a4c-a700-ff00008c8d26" class="sfImageWrapper"><img src="http://www.bcrea.bc.ca/sf-images/education/factorfiction.png?sfvrsn=8&MaxWidth=400&MaxHeight=&ScaleUp=false&Quality=High&Method=ResizeFitToAreaArguments&Signature=CC36A21861073687516E3C084ED1916C" displaymode="Custom" alt="FactOrFiction" title="FactOrFiction" method="ResizeFitToAreaArguments" customsizemethodproperties="{‘MaxWidth’:’400′,’MaxHeight’:”,’ScaleUp’:false,’Quality’:’High’}" style="float: right; margin-bottom: 15px; margin-left: 20px;" />There are a lot of myths out there about REALTORS®, real estate transactions and money laundering. Unfortunately, the public has nowhere to go get unbiased information about REALTORS®’ roles in identifying criminal activity.</span>There are a lot of myths
FPTP? Pro-rep? These strange terms are related to the 2018 Referendum on Electoral Reform, which is underway until November 30. This is the third referendum since 2005 to ask whether British Columbians want to change the way we elect Members of the Legislative Assembly. Unlike the previous referendums, this one will pass with a simple
British Columbia Real Estate Association (BCREA) invites BC’s REALTORS® to tell the government how the ban on limited dual agency (LDA) has impacted them through this online survey. Since the ban on LDA came into effect as part of the Rule changes on June 15, BCREA has heard many stories from commercial REALTORS® and REALTORS® working
On October 17, it became legal for Canadians to grow cannabis in their own homes. Still, just because it is legal, it doesn’t mean it is a good idea. A lack of guidance when it comes to issues around remediation, not to mention lenders’ and insurers’ reluctance to take on the risk of a home where
Changes to the Property Transfer Tax (PTT) return are now in effect. These changes are expected to provide the BC Government with better tools to ensure property buyers are not evading taxes they owe and increase evidence of true real estate ownership. When making a real estate purchase through corporations or trusts, buyers and transferees
Vancouver, BC – January 18, 2018. As you know, the Real Estate Council of British Columbia is preparing to implement the rule changes to eliminate limited dual agency and require additional disclosures. Those changes take effect on March 15, 2018, and the decision to change the rules came from the Office of the Superintendent of
On December 13, the federal Minister of Finance announced a plan to simplify changes to the Income Tax Act. For the 2018 tax year, several categories of business owners will be exempt from the new rules on income sprinkling. Under the new rules, the following exemptions will apply: For business owners aged 65 or older, sprinkling