H Havan8655 Focused Investor Registered May 9, 2018 #1 May 3, 2016 80 8 8 May 9, 2018 #1 For new residential construction purchases in BC, does 5% GST would be added to the mortgage loan amount or does one has to pay it when closing?
For new residential construction purchases in BC, does 5% GST would be added to the mortgage loan amount or does one has to pay it when closing?
Thomas Beyer 0 REIN Member May 9, 2018 #2 Aug 30, 2007 13,881 2,113 113 Alberta and BC - The Top 2 Places on the Planet to May 9, 2018 #2 It has to be paid but you can apply for a rebate. Usually it is NOT borrowed, although some sellers/developers do legally clean tricks, ie give you a decorating allowance, of say $20,000. That is then deducted on the closing table and GST added. Likes: Carla Reis
It has to be paid but you can apply for a rebate. Usually it is NOT borrowed, although some sellers/developers do legally clean tricks, ie give you a decorating allowance, of say $20,000. That is then deducted on the closing table and GST added.
L lendmorefinancial New Forum Member Registered Aug 1, 2018 #3 Aug 1, 2018 11 2 3 30 Toronto lendmorefinancial.com Aug 1, 2018 #3 Yes it has to be paid but you can apply for a rebate only.