Real estate in Canada looks attractive from the outside as well as from within the country. With many Canadian cities, including Toronto and Vancouver, being rated among the most desirable places to live in the entire world based on such criteria as health care, education, public transit, diversity, and green spaces, it’s no wonder that it makes sense from an investment point of view to purchase Canadian property from abroad.
Canadian law allows foreigners (non-residents of Canada) to buy, own, rent out and sell their property without any limitations. There are no differences in the ownership rights between Canadians and non-citizens.
Non-Canadians are also eligible for receiving a mortgage for purchasing property in Canada. The only requirement is making downpayment in the amount of not less than 35% of the purchase price.
A purchase can be made even without presence of a buyer in Canada. The deal could be done on behalf of you by your representative (for example, a real estate agent) to whom you give the power of attorney. There is another alternative that is commonly used: the purchase can be made through the use of a fax or a courier service for exchanging the signed and sealed documents between buyer and seller.
Canreach can help you in buying a home in Canada before you arrive. For more details please fill the form.