Condo ‘presales’ could be left in chaos by new B.C. tax, industry warns

B.C.’s new tax for foreign buyers could end up causing a “huge mess” that hurts Canadian property owners if the province doesn’t exempt soon-to-close contracts and condo “presale” agreements, real estate insiders say.  The tax, announced Monday by the B.C. government, imposes an additional 15 per cent property transfer tax on sales of residential property by foreign buyers that close and are registered after Aug. 2.    Read the article………….

Related Articles

Special strata levies gone bad

Dear Tony: What happens when a Strata Corporation passes a resolution for a special levy that has a serious error?

Why should we upgrade our condo lobby when it’s in perfectly good shape?

Q. Some of our condo owners feel that our front lobby needs a facelift. Even though the lobby of our

Strata council dealing with secret renters

Dear Tony: Our strata corporation has a bylaw that limits rentals in our 108-unit building to five at any given