What details should Canadian immigrants pay attention to when buying a house?

Details that Canadian immigrants should pay attention to when buying a house;

Choose the right house according to your own situation. Many people may ask, where is the best house in Canada now? Where is the best place to buy a house? For this problem, buyers need to weigh according to their own income, the purpose of buying a house, transportation and so on. Then grasp the overall situation, prioritize and choose the right housing.

2. Fully understand the cost of buying a house. In addition to defining the down payment of the house, buyers should also know the maintenance funds, three-way fees and other miscellaneous expenses of the house to prevent buyers from having cash flow after buying a house. When buying a house in Canada, in addition to the down payment, buyers also need to pay 2% of the house maintenance fund. Experienced people believe that at least 1/3 deposit should be reserved for buying a house.

3. In order to avoid becoming a house slave, buyers should choose a good loan method, and buyers should reasonably calculate the loan term and monthly repayment amount. The general repayment period is 15~20 years. If you choose short-term loans, the repayment pressure will be even greater. Therefore, consumers must choose the appropriate repayment period according to their own situation.

Key points of buying a house in Canada:

I. Main contents of property right inquiry:

Owner information: How many people own the property? It should be noted that the seller's name on the offer must be consistent with this. If it is owned by more than one person, it must be signed by all * * * people, and all of them are indispensable. There are generally two kinds of properties jointly owned by two or more people: joint lease, because some of them are bought together because of insufficient funds, or because of risk sharing, or joint investment in the establishment of a house purchase fund. The other is the joint ownership of husband and wife or children's parents, which are inseparable. Until one party dies, the property is naturally inherited by the other party.

2. Legal mark: including land number (P.I.D), legal description and address, which are the keys to property right inquiry.

3. Mortgage setting: If the homeowner has a house loan, the loan bank and loan number will appear in the property right inquiry, and the lawyer will give priority to paying off the loan before paying the balance to the seller.

4. Legal right of way: The most common way is that the gas or power company has the right to enter your land for work or maintenance. When buying a house, you can find the right place where the right of way can pass.

5. Easement: Similar to the right of way, but with a wider scope, it authorizes the person to use or pass through part of your land, such as * * * enjoying the driveway, or the new expressway has to pass through, or someone has to pass through the land of the house to enter his own land. Easement often reduces the building volume ratio and even affects the house price.

6. Covenant: The scope is wider, including various contract documents, most of which have expired, but no application has been made for cancellation. These documents are always accompanied by ownership, and it is necessary to find out all the contracts signed by the owner with the relevant units before.

7. False seizure/lawsuit: For example, if the builder can't get back his construction loan, the builder will apply for false seizure through the court; When there is false seizure in the property registration, the seller must cancel it before the transfer.

8. License: In order to prevent the house from being stolen, some homeowners will get the title certificate from the Land Bureau. Once the house is to be transferred again, it must be returned first.

Procedures for foreigners to buy a house in Canada

The basic process is to look at the house, sign a real estate sales contract through consultation, pay a deposit and transfer the ownership. If I am not in Vancouver, I can also sign the contract with the help of your real estate agent by mail or fax.

In Vancouver, it takes at least half a month from house inspection to house delivery. Generally speaking, it takes 20-30 days, of course, 2 months or even longer. If the buyer looks at the house and leaves Vancouver before handing over the house, he can make special arrangements with the lawyer before leaving, or 2) find the trustee and sign the entrustment agreement. The trustee can handle the handover of the house on behalf of the client, such as paying the deposit, handling the loan, getting the key, signing the relevant documents with the lawyer, etc.

Three. Loans for foreigners to buy houses in Canada

Generally speaking, there is no difference between loans from foreigners and local residents. Successful bank loans require:

1. has a bank account. The purpose of opening an account is to repay the loan on time. When opening an account, the account holder must come to Vancouver in person. Major Canadian commercial banks have branches or offices in China, which can help to open accounts, but such accounts usually need to be activated in Canada before they can be used for payment.

2. You can't have bad credit records in Canada.

3. Down payment ratio: Under normal circumstances, you can get a bank loan with a down payment of 35%. The loan amount is large, and the down payment ratio will be higher.