Sunshine Realty Group›
5.0 36 reviews
“Furthermore, very professional and at the same time provided a warm realtor-client relationship that will let you feel welcomed and heard in terms of your inquiries or questions on choosing any property that you're interested in.”
FAQs
Who pays the Property Transfer Tax and how much is it?
The buyer of a property pays the property transfer tax. Therefore, when you go on to purchase a home you will be the one paying property transfer tax. It is always recommended to seek advice from a tax accountant but the general amount owed on completion date is the following: PROPERTY TRANSFER TAX [PTT]: PTT applies to the fair market value and is payable by the Buyer at the time of completion, unless the Buyer qualifies for an exemption or Rebate. The rate of PTT is: 1% of the 1st $200,000, plus 2% up to $2,000,000, plus 3% of the balance. If the property is residential, plus 2% on the portion greater than $3,000,000. For further information on the PTT or any available Rebates, Buyer must seek advice from a Tax Consultant.
Can one agent represent me in both transactions, both selling my house and buying my next one?
Yes, you can have the same agent give you representation for both the selling of your home and your new purchase. But the selling agent cannot give representation for you selling your house and to the buyer buying your house as that would be a conflict of interest. The seller has to have their own agent and the buyer brings an agent as well, that way, two agents are working together to represent each client for each of their own best interests.
If I counter an offer and they say no, is the original offer still valid?
No. The most important thing to understand about counter offers is that when you (or the other party) counters, then the previous offer is nil. So each counter has to be considered carefully as a deal can be lost if not strategized with careful considerations.
More answers can be found on the FAQ page of our website.
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