Real Estate

Buying, Selling, Financing, and Developing Real Estate

Whether you are purchasing your first home, refinancing an existing property, acquiring investment real estate, or undertaking a development project, real estate transactions involve significant financial and legal considerations.

Our Real Estate team assists individuals, businesses, developers, lenders, and investors throughout British Columbia with a broad range of residential, commercial, agricultural, and development-related matters. We provide practical advice, responsive service, and careful attention to detail to help ensure transactions proceed smoothly and efficiently.

From straightforward residential purchases to complex development projects, our goal is to identify issues before they become problems and help our clients move forward with confidence.

Residential Real Estate

Our team regularly assists clients with:

• Residential purchases and sales
• Refinancing transactions
• Mortgage registrations and discharges
• Private mortgages
• Second mortgages
• Property transfers
• Family transfers
• Manufactured home transactions
• Recreational and vacation properties

Commercial Real Estate

We advise businesses, investors, landlords, and tenants on a wide range of commercial real estate matters, including:

• Commercial property acquisitions and sales
• Commercial financing transactions
• Investment properties
• Leasing and tenancy matters
• Commercial mortgages
• Due diligence reviews
• Easements, covenants, and rights of way
• Title review and risk assessment

Real Estate Development

Our lawyers have extensive experience assisting developers, builders, investors, and landowners with:

• Subdivisions
• Land assemblies
• Rezoning applications
• Bare land strata developments
• Easements and rights of way
• Restrictive covenants
• Building schemes
• Development financing
• Construction-related agreements
• Municipal and regulatory considerations

Leasing

We regularly assist landlords and tenants with:

• Commercial leases
• Lease renewals and amendments
• Assignment and subletting issues
• Lease enforcement
• Leasehold financing
• Licensing agreements
• Dispute resolution

Business and Ownership Structures

Real estate ownership is not always straightforward. Depending on the circumstances, there may be advantages to holding property through a corporation, partnership, joint venture, or other ownership structure.

Our lawyers work closely with accountants and other professional advisors to help clients determine the most appropriate structure for their objectives.

Real Estate Disputes

When disputes arise, our Civil Litigation team can assist with matters involving:

• Real estate contract disputes
• Construction disputes
• Builder and developer disputes
• Co-ownership disputes
• Easement and right of way disputes
• Residential tenancy matters
• Commercial tenancy matters
• Property-related litigation

Real Estate Resources

Purchasing property involves more than simply arranging financing and paying legal fees. Depending on the nature of the transaction, buyers may also be responsible for Property Transfer Tax (“PTT”), Goods and Services Tax (“GST”), and other closing costs.

To help you better understand these expenses, we have compiled the following information and resources.

MORTGAGE CALCULATORS

Purchasing a home can feel overwhelming, particularly for first-time buyers. Understanding your anticipated mortgage payments is often one of the first steps in planning a purchase.

You can use the Government of Canada’s Mortgage Calculator to estimate mortgage payments and review different payment schedules available here: Mortgage Calculator – Canada.ca

Property Transfer Tax (PTT)

What is Property Transfer Tax?

The Property Transfer Tax Act requires most purchasers of real estate in British Columbia to pay Property Transfer Tax when acquiring an interest in property. The tax applies to residential, commercial, industrial, and many other real estate transactions.

How is Property Transfer Tax Calculated?

Property Transfer Tax is currently calculated as follows:

• 1% on the first $200,000 of the property’s fair market value;
• 2% on the portion between $200,000 and $2,000,000;
• 3% on the portion between $2,000,000 and $3,000,000; and
• 5% on the portion above $3,000,000.

Additional taxes may apply in certain circumstances.

Property Transfer Tax Exemptions

A number of exemptions and exemptions from PTT may be available depending on the circumstances of the transaction.

Some of the more commonly used exemptions include:

• First Time Home Buyer Exemption
• Newly Built Home Exemption
• Certain family transfers
• Certain corporate reorganizations

Because eligibility requirements can be complex, we recommend obtaining legal advice before relying on an exemption. See a full list of exemptions here: Property transfer tax exemption codes – Province of British Columbia

Disclaimer

The following calculator shouldn’t be relied on for legal purposes. Consult with a legal professional when you file a property transfer tax return to ensure you pay the correct tax amount.

Use the BC Government calculator to determine your property transfer tax or view BC’s current rates here: BC Government Property Transfer Tax Calculator.

Goods and Services Tax (GST)

When is GST Payable?

GST is generally payable on the purchase of newly constructed or substantially renovated residential properties. In many resale residential transactions, GST does not apply.

How Is It Calculated?

GST is generally calculated at 5% of the purchase price of a newly built or substantially renovated home.

GST Rebates

In some circumstances, purchasers may qualify for a GST rebate.

Potential rebates include:

• GST New Housing Rebate for purchasers who intend to occupy the property as their primary residence; and
• GST New Residential Rental Property Rebate for purchasers acquiring a property for rental purposes.

Eligibility requirements and rebate calculations can be complex and may change over time. Buyers should obtain professional advice regarding their specific circumstances.

For additional information, please consult the Government of Canada’s GST New Housing Rebate Guide available here: Government of Canada Guide to GST New Housing Rebate