It probably isn't relevant that the gains an owner-occupier receives are tax free. So pardon me if I'm a bit forgiving in assigning outrage to those who fail to "contribute to our local society".What matters is what other taxes are paid to contribute to our local society. A local family may earn $100,000 income. Between income taxes & GST/PST on consumption this family may pay up $40,000 in total taxes.
The foreigner will only pay GST/PST & no income tax.
I don't have sympathy for anyone really. Least of all the realtor.The long close was probably because it was the highest bid so yes there's a price. But yes Realtors are getting a pass not informing their clients about assignments. Any RE lawyer would point that out in a flash. But apparently paying $1000 for some legal advice is just too much for a $3million transaction.
I'm having a really hard time finding sympathy for the seller here.
Allowing Realtors to double end deals is about to become a thing of the past.
Daisy chaining should be outlawed too....
I believe this defines what 'daisy chaining' means for real estate.. Good read too!For those of us that don't know, what is daisy chaining?