Financing - Purchase by Mortgage

Mortgage financing is available on approved credit for a limited number of properties. You may qualify to purchase the property using a purchase agreement and mortgage.

Although we are flexible with the terms of our mortgages, we generally require 50% of the purchase price of the property being paid in cash.

Our interest rates do fluctuate over time, so please talk to a sales representative for current rate information.

You may pre-pay any or all of the outstanding mortgage balance at any time without penalty.

Any mortgage brokerage fees incurred for the creation of the mortgage will be the responsibility of the purchaser.

Please contact a NIHO sales representative to learn more about available terms for your purchase.

Taxes

The Government of Canada may or may not charge a one time 12% harmonized services tax on the purchase price of the property.

The Government of B.C. charges a one time property purchase tax on all real estate transactions. This tax is 1% on the first $200,000 and 2% on all portions beyond $200,000.

Annual property taxes are due in early July of each year. In the year of purchase, these taxes are apportioned according to the number of days you actually own the property. For example, if you bought the property on July 15, 2012, you would have to pay only 196/365 of the 2012 property taxes.

Foreign Ownership

There are no restrictions or penalties for non-resident owners of land within the Province of British Columbia.

Prices

All prices mentioned in this web site are in Canadian funds and are subject to change without notice. NIHO reserves the right to remove or hold a property from the market at any time, without notice.