buying new build property in Canada
Oct 20th 2005, 7:14 am
#16
BE Enthusiast
Joined: Aug 2004
Location: back to where I came from
Posts: 459
Re: buying new build property in Canada
Originally Posted by mikejw
Hi
further to previous replies;
In Nova Scotia 1.5% deed transfer tax applies to propertey sales and vacant lot sales whether $20k 0r 2 mill.
HST rebate and new buyer rebate will usually be incorporated in the final price from a builder. If you require the rebate back, the builder will just put it on the price again!
Hope this helps.
Mike.
further to previous replies;
In Nova Scotia 1.5% deed transfer tax applies to propertey sales and vacant lot sales whether $20k 0r 2 mill.
HST rebate and new buyer rebate will usually be incorporated in the final price from a builder. If you require the rebate back, the builder will just put it on the price again!
Hope this helps.
Mike.
just checked this info, because we didn't have to pay it when buying. The deed transfer tax varies from county to county in Nova Scotia (between 0% and 1.5%), please see the following list for details:
http://www.gov.ns.ca/snsmr/property/....46.81.166.172
thanks
woodworm
Oct 20th 2005, 8:52 am
#17
Lotus-eater
Joined: Jan 2004
Location: Cascadian Autonomous Elysian Region
Posts: 5,069
Re: buying new build property in Canada
Originally Posted by Posidrive
Where does this gem come from?? I am here on a work permit and have an approved mortgage from HSBC.
What difference does it make. As long as you put down enough deposit most financial institutions couldn't give a toss as to whether or not you can pay the mortgage since they will just sell the house to recoup the costs if you don't.
What difference does it make. As long as you put down enough deposit most financial institutions couldn't give a toss as to whether or not you can pay the mortgage since they will just sell the house to recoup the costs if you don't.
The assessed level of risk will usually be reflected in the interest rate charged by lender, amongst other things.
Rich.
Oct 21st 2005, 5:39 am
#18
Forum Regular
Joined: Oct 2005
Location: Greater Toronto Area
Posts: 201
Re: buying new build property in Canada
Originally Posted by gabics
Are you sure about it?
I thought it works the same way as it does in the US, where I had 2 mortgages on work visa. I was not resident.
I thought it works the same way as it does in the US, where I had 2 mortgages on work visa. I was not resident.
