About Cindy Silver

Author Archive | Cindy Silver

How does the new “stress test” for mortgages affect me?

If you are buying a home, these new regulations may affect you. On October 17th, 2016, the federal government’s new rules for first-time homebuyers took effect. At the beginning of the month, Ottawa released the news that they would be introducing some new measures to make it harder for Canadians to take on a mortgage […]

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What is happening in the Real Estate Market?

Updated October, 2016 According to the BCREA (British Columbia Real Estate Association): Housing demand in the province “continued to trend lower in September” according to BCREA Chief Economist Cameron Muir. The number of residential unit sales recorded by the Multiple Listing Service (MLS®) in September is 7,591; down 11.2 percent from the same month last […]

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What is happening in the Real Estate Market?

Updated August 2016   According to the British Columbia Real Estate Association (BCREA), home sales in metro Vancouver region are showing a “cooling trend” since March. The 9,900 residential unit sales recorded by the Multiple Listing Service (MLS) in July in B.C. is down 3.4 per cent from the same month last year. According to […]

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What do I need to know about Property Transfer Tax?

What is PTT? The Property Transfer Tax (PTT) is a land registration tax charged by the B.C. government on all transfers of real estate in the province that are registered at the Land Title and Survey Authority (LTSA). The amount of tax you are required to pay is based on the fair market value of […]

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Wills Q&A’s

Q. What is a will? A will is a legal document that allow you as the testator (person executing the will) to “speak after death” with respect to your assets. A will allows you to make your wishes clear regarding the distribution of your money, property, investments, and personal belongings (otherwise known as your “estate”). […]

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Power of Attorney

A Power of Attorney is a valuable part of an estate plan. By using a Power of Attorney, you can control who will make decisions about financial and legal matters for you in case you lose capacity. A Power of Attorney is a legal document used by an individual (the “donor”) to give authority to […]

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Why use a lawyer instead of a notary public?

Why use a lawyer instead of a notary public? A lawyer has much more training and expertise in the law and can give you service that is more complete in a wider range of areas. For example, if a will or real estate transaction turns out to be complicated, a notary may need to send […]

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The New Wills Estates and Succession Act (WESA)

The New Wills Estates and Succession Act (WESA) What is it? The Wills, Estates and Succession Act (WESA) came into force on March 31, 2014. The act provides greater certainty for individuals who put their last wishes into writing and simplifies the process for those responsible for distributing an estate. Among its benefits, the act: […]

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How does Property Transfer Tax affect you?

How does Property Transfer Tax affect you? Very generally, Property Transfer Tax (PTT) is paid by anyone who has land transferred into their name, unless they qualify for an exemption. Property Transfer Tax is 1% on the first $200,000.00 of the property’s fair market value and 2% on the remaining fair market value, as of […]

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