International buyer
Published on 17/12/2013
The real estate agency Remax specializes in investment and the purchase of properties by investors from outside Canada.
The main requirements of a Canadian bank for the financing of a property are relatively simple. Advised and assisted by a Remax real estate broker, a real estate investment comes in six steps that must be strictly followed:
1. Provide a letter of reference from your bank.
2. Open a Canadian bank account.
3. Deposit money into your Canadian account – an amount representing at least 35% of the value of the property you want to purchase.
4. Get mortgage financing. After the acceptance of an agreement to buy, the Remax real estate broker will submit the file to a mortgage broker who will obtain final approval for your financing. (approval within approximately fifteen days).
5. Inspection of the building. It is strongly recommended to get a building inspection.
Signature of the notary deed. After completing all the requirements of the agreement to buy and to have insurance for the property, the last step is to sign before a notary or by proxy.