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Qualifying for the First Time Home Buyers’ Program

Posted by | Conveyancing | 2 Comments

Shopping for your first home is very exciting, but trying to plan for all of the unforeseen costs can be stressful. Most people are aware of Property Transfer Tax (“PTT”), which is a provincial tax payable when the title to a property changes hands. However, don’t automatically assume that you qualify for an exemption simply because you are a first time home buyer (“FTHB”). This could be a costly mistake, resulting in a delay or even potential legal liability if you are unable to complete the purchase due to an inability to pay an unexpected PTT bill. Read More

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