Mylene Lim Pinay Mortgage Broker - March 2024

Foreclosures List in BC

Abbotsford Houses
Abbotsford Condos and Townhouses
BC Northern Houses Single Family
BC Northern Houses with Acreage
BC Northern Condos and Townhouses
Burnaby Houses
Burnaby Condos and Townhouses
Chilliwack Houses
Cloverdale Houses
Cloverdale Condos and Townhouses
Coquitlam Houses
Coquitlam Condos and Townhouses
Hope Houses
Ladner Houses
Langley Houses
Maple Ridge Houses
Maple Ridge Condos and Townhouses
Mission Houses
Mission Condos and Townhouses
North Delta Houses
North Delta Condos and Townhouses
North Surrey Houses
North Surrey Condos and Townhouses
North Vancouver Houses
North Vancouver Condos and Townhouses
Richmond Houses
Richmond Condos and Townhouses
South Surrey White Rock Houses
South Surrey White Rock Condos and Townhouses
Squamish Houses
Surrey Houses
Tsawwassen Condos and Townhouses
Vancouver East Houses
Vancouver East Condos and Townhouses
Vancouver West Houses
Vancouver West Condos and Townhouses
West Vancouver Houses
West Vancouver Condos and Townhouses

Here is a list of the latest foreclosures in BC. 

If you found this article of value, please feel free to share it on your social media.

Property Transfer Tax Exemptions

Starting April 1st, 2024, changes to the First Time Home Buyers (FTHB) exemption in British Columbia affect property purchases differently. For properties valued below $835,000, Property Transfer Tax (PTT) is waived on the first $500,000 of the fair market value (FMV), with PTT payable on the remainder. For instance, if a property's FMV is $700,000, PTT is calculated on $200,000 ($700,000 minus $500,000), saving the purchaser $8,000.

For properties valued between $835,000 and $860,000, a partial exemption applies, with specific details pending confirmation from the BC government.

Properties valued over $860,000 no longer qualify for the FTHB PTT exemption.The fair market value (FMV) threshold required to qualify for the Newly Built Home Exemption will rise from $750,000 to $1,100,000. Properties slightly exceeding this threshold can still benefit from a partial exemption. The phase-out range extends $50,000 beyond the threshold, meaning properties valued at over $1,150,000 will no longer qualify for the Newly Built Home Exemption.