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The Provincial Government has issued amended First Time Home Buyers requirements.

The qualifications for the exemption have changed. A first time home buyer can now qualify for a full exemption with a purchase price of less $425,000 (previously $375,000).

A partial exemption is available if the purchase price is more than $425,000 but less than $450,000.

Also there is no longer a requirement for any financing.

For more information, please see:

www.sbr.gov.bc.ca/documents_library/bulletins/ptt_004.pdf