In addition to the purchase price there are some other costs that go into making the property yours.
1. Legal Fees and Disbursements
These fees vary by legal firm or notary office as well as due to the property type and purchaser. Each transaction is very different but generally you should expect to pay approximately $700.00 to $2,000.00. I have a number of great conveyancers that I work with regularly and will gladly recommend one at our convenience.
Property Transfer Tax
This is a Provincial tax which applies on all transfers of real estate and is payable on the Completion date. The charge to transfer the title is 1% on the first $200,000, 2% on the portion of the fair market value greater than $200,000 and up to and including $2,000,000, and 3% on the portion of the fair market value greater than $2,000,000. And If the property is residential, a further 2% on the portion of the fair market value greater than $3,000,000 applies.
When financing a property one will have to arrange insurance on a single-family home. A condominium or townhouse has insurance on the building arranged through the strata corporation but it is recommended that The Buyer buys contents and third party liability insurance over and above the building policy. I have several brokers that I can recommend that are familiar with Whistler properties.
4. Tourism Whistler Fees
This is a fee payable yearly to Tourism Whistler, the marketing arm of our resort. It is calculated based on the number of bed units within and the use of the property. For more information regarding these fees and how they are calculated please contact Tourism Whistler at 604-932-3928 or on www.whistler.com