Real Estate Information

Helpful Hints

Some points to be aware of when buying or selling real estate in British Columbia...

Establish with your salesperson

Establish with your salesperson whether they represent you as a buyer’s agent, seller’s agent, or a dual agent.

Property Transfer Tax

Property Transfer Tax of 1% on all property sold up to $200,000.00, and 2% on the balance up to a purchase price of $2,000,000.00.


In some situations GST (Goods and services tax) of 5% is applicable. Existing homes are not as a rule subject to GST

commissions paid

All sellers are required to pay 5% GST on the commissions paid on a sale.

Non residents


There are no restrictions for non residents buying real estate in British Columbia


As a non resident it is advisable to retain an accountant for advice on possible withholding tax on capital gains.

Closing Costs

Be sure your salesperson has informed you of all customary costs in the closing of a sale. (in a particular circumstance there may be additional costs)



Your Riley & Associates Realty team member will be happy to assist you in choosing any of the necessary professional services in order to complete your purchase or sale from the following:

Lawyer or Notary


Mortgage Broker

Insurance Broker

Building Inspector

Real Estate Appraiser

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