The exemption actually removes up to $125,000 of your assessed value or 50%, whichever comes first.

The Vancouver market is already one of the if not the most unaffordable in the world, which reflects the fact that prices are in bubble territory whichever measure you use.

Happy to connect via BP / Zoom / IG whichever platform works best to fill in any gaps in my post.  

Quote from @Bill Brandt: thanks for the clarification, the parcels being sold are "better than average" the parcels being sold are on a private lane,  with mountain views,  have natural gas,  electric, fiber internet, and cell phone service available. 

As pointed out above, it is $250k (being half of $500k) or $10k, whichever comes first.

Here's what auction.com said about the transaction details: "Buyer will not be charged a Buyer's Premium for this property.If you are the Winning Bidder, an Earnest Money Deposit of 5% of the total purchase price or $2,500 (whichever is greater) is required.Buyer may receive a Special Warranty Deed or equivalent if Buyer is able to purchase title insurance without delaying the closing (title fees typically cost between $500 and $1500 and are based on the purchase price of the property).

Any competent plaintiffs attorney will bring in all entites  Glenn described and argue an alter ego exists to latch onto whichever entity has the insurance or assets that are easiest to collect upon.

(Furnish an STR with cast-off furniture and take cell-phone photos and see how well you do.) 

I want to pluck my own eyes out when a client buys a $1 million dollar Colorado cabin, spends $40k on furniture, and then throws up the listing with poorly lit cell-phone photos.

an easier entry to fix and flip or repositioning an asset through BRRRRR is building. we do ground up in Columbus Ohio I'll send you a colleague request if you want to chat more my cell phone is in my signature