Hi senior guys / desi out there

Is it possible to buy a house / land on mortgage for a me , who is not yet a Canadian i.e. neither PR not citizen.

I am a Indian and currently working in the Gulf. Have applied for my canadian PR an waiting for the same. Mean while would be possible for me to buy a small house on mortgage now so that when i land there i will can directly start living there.

Your advice please


Regards

Yes, sure you can buy. This is a very common practice with people from Gulf.

Anyone can buy real estate in Canada, as long as one can proof source of funds.

If you have a clear idea of your needs, budget, area of choice then this process may take less than a week including viewing and selecting property, banking, real estate transaction, signing documents at financial institution etc.

You may be able to give power of attorney to your close friend/relative/ sometimes to real estate professional in order to close your property and put in on rent for the time being.

Regards,

-----------------------------------------------------------------
Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/

Hi Amit

Thanxs for your reply and help. Can u let me something more about the whole process.

It will be a great help.

Take care

Bye

Quote:

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Originally posted by amit kalia

Yes, sure you can buy. This is a very common practice with people from Gulf.

Anyone can buy real estate in Canada, as long as one can proof source of funds.

If you have a clear idea of your needs, budget, area of choice then this process may take less than a week including viewing and selecting property, banking, real estate transaction, signing documents at financial institution etc.

You may be able to give power of attorney to your close friend/relative/ sometimes to real estate professional in order to close your property and put in on rent for the time being.

Regards,

---

I have send you a PM. If you do not receive it please send me your email ID.


Thanks,

-----------------------------------------------------------------
Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/

Hi Amit

Received your PM i tried to reply to your thru the PM reply but the reply is still in Outbox since yesterday.

Meantime can u forward me some details of the kinds of property available , will i get a visa if i purchase a property as it is happening in Dubai, price range, other formalities for getting the property etc.,

Thanxs a lot for all your help.

Quote:

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Originally posted by amit kalia

I have send you a PM. If you do not receive it please send me your email ID.


Thanks,

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Hello Sam,

Yes you can purchase a home in Canada - it's a great time to invest. Our housing market is strong and our economy is showing good signs for continued growth.
Things you should know before hand are:-

To qualify, consumers living outside of Canada must have a minimum of 35% down and follow a couple of rules which you can find in the link attached.

Besides a realtor , you require the assistance of a lawyer and good accountant for tax purposes. The fee's for these will be reasonable but I suggest putting aside 2% of the purchase price as a budget.

Below is an interesting article that may be of interest.
http://www.victorialaw.com/details/articles/Five_Important_Questions.pdf

Hope this help!