Join Michael Poczynek and Powerhouse Patty as they dive into the essential aspects of buying and selling residential property in Prince Edward Island, Canada. In this episode, we break down the costs and considerations for both buyers and sellers, including legal fees 💼, title insurance 📜, deed registration, and land transfer tax. We'll explore the importance of surveys and plot plans 🗺️ in validating deeds, the process of title searches 🔍, and what happens if you buy in a sub-division that was not previously approved 🚧.

Get insights into the role of lawyers in real estate transactions ⚖️, the intricacies of commission rates 💰, and the nuances of mortgage satisfaction fees. We’ll also discuss the Canada Revenue Agency’s (CRA) income tax withholding for non-Canadian residents and the necessary CRA Clearance Certificates 🏦.

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