Are the fees paid to the seller's and buyer's REALTORs excluded from the Property Transfer Tax calculation?
Thanks.
Edited by rambaldi, 01 April 2016 - 07:09 AM.
Posted 01 April 2016 - 07:09 AM
Are the fees paid to the seller's and buyer's REALTORs excluded from the Property Transfer Tax calculation?
Thanks.
Edited by rambaldi, 01 April 2016 - 07:09 AM.
Posted 01 April 2016 - 07:31 AM
Are the fees paid to the seller's and buyer's REALTORs excluded from the Property Transfer Tax calculation?
Thanks.
No, nither are appliances, but they should be as an appliance is a chattel.
I sometimes seperate out the appliances from the contract of purchase and sale, depending on the situation, to save my clients on PTT.
Edited by MarkoJ, 01 April 2016 - 07:31 AM.
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
Posted 01 April 2016 - 09:57 AM
No, nither are appliances, but they should be as an appliance is a chattel.
I sometimes seperate out the appliances from the contract of purchase and sale, depending on the situation, to save my clients on PTT.
That must be a bit of a PITA though. Estimate value, draw up another bill of sale...
Posted 01 April 2016 - 11:25 AM
That must be a bit of a PITA though. Estimate value, draw up another bill of sale...
As noted, only under special circumstances....for example, to save first time buyer PTT if the seller wants high 470ish/low 480ish (including appliances) and the exemption is 475kish I'll draw it up as 475k + 5k for kitchen appliances + washer/dryer, for example.
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
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