Selling a Home in Vancouver?
Once you have made the decision to sell your home, there are some important things that you need to consider with the help of your representative:
- The market conditions – The real estate market is always changing and it is important to understand how the current conditions will affect your position as a seller
- What the market value of your home is – This is influenced by market conditions, location, size, style, condition, amenities and financing options.
- What a realistic selling price would be – Homes that are priced right sell faster and can generate higher, competing offers.
Selling a home can feel complex, especially with all the unique nuances that are prevalent in the Lower Mainland real estate market. However, it can be an enjoyable experience with the right person to guide you on your journey! I will work for you every step of the way using my combination of skill and experience to ensure that I can sell your home for the highest possible price and in the shortest period of time. I have the tools to meet the demands of a highly competitive, modern market. Contact me today.
The Selling Process Summary
To determine the adjusted cost base in calculating capital gains, Revenue Canada allows for the following:
- Property Transfer Tax
- Legal fees and disbursements associated with the purchase
- Furnishings and renovations included in the selling price
- A portion of the interest on mortgage payments
- GST fees associated with the purchase
- Revenue Canada does not allow any deductions from the selling price in determining the gain. However, by filing a Canadian tax return with Revenue Canada after the sale, some of the tax paid may be recovered.