Our understanding Lawyers and five conveyancing secretaries are all fully experienced in conveyancing matters and can explain all aspects of your first real estate transaction in terms that you will understand. Before you begin looking for your first home, we would recommend that you contact us for a complimentary 15 minute review of your legal affairs. You should also contact your banker to determine your qualification for a mortgage and the approximate price range for your home. Often, you can be Pre-Approved for a mortgage up to a certain amount before you go house hunting. In order to shop effectively for your new home, you need to know, in advance, the amount of mortgage you can manage.
Many agencies provide online mortgage rates.
Later, your realtor will also ask you many detailed questions to qualify you for the size, type, location and price range of your new home. The Canadian Mortgage and Housing Corporation provides that insurance for those who need to borrow more than the statutory limit. This tax is collected at the time of transfer and is paid every time a property is transferred. In order to assist you in purchasing your first home, the B.C. Government has developed an exemption for First Time Home Buyers. To qualify for the exemption, saving you all or part of the Property Transfer Tax, you must not have owned or had an interest in a home on real property anywhere at any time.