Ask a Realtor®
What are the changes to the MLS everyone is talking about?
The Canadian Real Estate Association (CREA) has recently changed their bylaws to allow a
mere posting. Mere posting is defined as a listing on a Listing REALTOR’s ® Board’s MLS®
system in respect of which the Listing REALTOR ® has chosen or agreed not to provide
services to the Seller other than submitting the listing for posting on the Listing
REALTOR’s ® Board’s MLS® system.
As a seller then, you can now post your home for sale on our Kootenay Real Estate Boards
MLS system which will then show up on the national public www.realtor.ca web site and
the REALTOR® based sister site MLXchange. In order to do so, you will need to find a
REALTOR® who is offering this option as it is not a requirement of CREA that all
REALTORS® must offer this. Coldwell Banker Windermere Valley Realty has decided that
this is an important change to the real estate system in Canada which we fully embrace.
As such we are offering this service in what we call You List .
What is that special tax I have to pay in BC?
There is a tax called the BC Property Purchase Tax on all real estate transactions in BC (even if you are from Alberta) sigh...yes, Alberta has oil and BC has trees, mountains, lakes and tax. It is calculated as 1% on the first $200,000 and 2% on the balance.
What about that crazy Harmonized Sales Tax, do I have to pay that too?
Sometimes but for most transactions no. HST is primarily applicable on new developments and totals 12% of the purchase price less various rebates that are too complex to get into here. I would be happy to answer specific questions you have in a personal email.
I asked a private seller of a house for a copy of his Real Property Report and he gave me a blank stare. What’s that about?
Real Property Reports are an Alberta term. An equivalent in BC would be a survey certificate and a copy of the Property Condition Disclosure Statement.