Quote:
Originally Posted by fulham
I Just Sold my Fathers Home in West Vancouver, The First Offer over the phone was for over 20% what my asking price was from a Buyer based in Guangzhou...
I Obviously have greatly benefitted from this, so its hypocritical for me to complain, but this is obviously money laundering. As often no bidding wars are taking place, people are just Dumping Money.
And This new tax wouldn't of applied to this Sale as it was Bought thru this mans son who is a Permanent Resident
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I've heard dozens of stories like this, but mostly from the other side. A buyer goes to an open house to look around, and literally a Russian billionaire shows up with a blank check and no conditions. Seller tells everyone to leave.
Or a mega deals done over the phone with Chinese billionaires.
It's so ridiculous in Vancouver right now.