Buying and selling in BC: common questions

Commission is agreed between you and your REALTOR® before listing and is paid from the sale proceeds at closing. Harpal walks you through every cost (commission, legal fees, mortgage discharge and adjustments) so you know your net proceeds before you list.

For most residential purchases in BC, buyers have a 3-business-day Home Buyer Rescission Period after acceptance. Cancelling within that window costs 0.25% of the purchase price. Some properties, such as those sold at auction or leasehold land, are exempt.

In Canada, it's 5% of the first $500,000 and 10% of the portion between $500,000 and $1.5 million. Homes at $1.5 million or more need 20% down. Under 20% down, mortgage default insurance (CMHC or similar) is required. The mortgage calculator on this site does the math for you.

A provincial tax paid by the buyer when the title transfers: 1% on the first $200,000, 2% up to $2 million, 3% from $2 million to $3 million, and 5% above $3 million for residential property. First-time buyers and buyers of newly built homes may qualify for full or partial exemptions; check the current thresholds with the BC government.

It depends on your finances and the market in your area. Harpal will look at your equity, bridge-financing options and current days-on-market, then recommend the order that keeps your risk lowest.

Yes. Harpal has sold many new-construction duplexes in Langley's Willoughby Heights and Surrey's Clayton, and helps investors evaluate rental potential, suites and holding costs.

Surrey, Langley, White Rock and South Surrey, Delta, Abbotsford and Chilliwack, plus buyers and sellers elsewhere in the Lower Mainland.

Yes. Harpal works with clients in English, Punjabi and Hindi, from the first conversation through to signing and closing.