What does this mean for homebuyers??

Cari A. Hewick — Wed, 19 Dec 2007 18:01:00 GMT

This is great news for first time home buyers!

Effective December 13th, 2007, the government has expanded it's Land Transfer Refund Program to include "first time home buyer's" of "Resale" homes. Previously, first time home buyer's would qualify for a refund for land transfer tax paid ONLY WHEN they purchased a NEW home.

What this means now is that if you are a first time home buyer & you are purchasing a RESALE home, you will qualify for a tax refund from the government for the land transfer tax paid up to $2000!

To Qualify:

You must be a first time home buyer
Your Agreement of Purchase & Sale must be dated after Dec. 13th, 2007.

Ontario Expands Land Transfer Tax Refund Program

What does this mean for homebuyers??