How do Canadian immigrants pay for buying a house?

In recent years, more and more mainland buyers from China have come to Canada to buy houses. They are attracted by Canada's natural environment, educational resources and living environment. With the influx of new immigrants, the demand for the opposite house is growing, and new problems are constantly emerging. Many buyers do not understand the purchase process.

Canadian procurement process

1. Contact real estate professionals for professional consultation and evaluation. Understand the market, the situation of the community and the information of the school district through consultation, and accurately locate your own situation.

2. Step 2: Choose a house, inspect the house on the spot, and discuss and summarize the inspection opinions with professional economic persons.

3. Draft a satisfactory house purchase contract (offer) and bid to the seller. And negotiate the contract terms and prices with each other through professional agents. Pay the down payment (within 24 hours) after the contract is confirmed.

4. Apply for a loan from the bank and obtain a loan confirmation from the bank. If there are any problems, you can cancel the contract and get the deposit back. (Completed within one week after signing the contract)

5. Regarding the property, you can choose * * * management or non-* * management. * * * To manage the property, first apply to the property management company for a management report and ask a lawyer to review and explain the contents of the report. If there is any problem, you can cancel the contract and get back the deposit (completed within two weeks after signing the contract); Non-* * property management, please ask professionals to inspect the house and get the inspection report. If problems are found, they can be solved through consultation with the seller; If the problem is serious, you can cancel the contract and get back the deposit (completed within two weeks after signing the contract).

6. Sign the documents after the conditions of house inspection, loan and management report are met, and the above additional conditions in the contract are eliminated, and the contract is formally established.

7. Check the house, house and electricity before delivery to ensure the quality of delivery.

8. Coordinate the loan with the bank, sign the loan documents, provide the lawyer's information to the bank, and the bank will hand over the loan to the law.

9. Lawyers check property rights and buy property insurance. It should be noted that the property not managed by * * must be purchased in home insurance, and the insurance policy should be given to the lawyer before the house is handed over.

10. The lawyer is ready to deliver the transfer, and the buyer should prepare the remaining expenses (taxes, attorney fees, etc.). ).

1 1. On the delivery date of the house, the lawyers of both parties handle the property right delivery procedures, and the buyer's lawyer pays the balance to the seller's lawyer, and the seller's lawyer gives the key to the buyer's lawyer. The buyer can get the key and the electronic property right registration document through his lawyer. One month after the delivery date, the buyer's lawyer will hand over the formal deed to the buyer. At this point, the whole transaction process was successfully concluded.

Matters needing attention

You must find a real estate agent to buy a house in Canada, and you don't have to find a real estate agent to buy a house in China, but it is different in Canada. Let's not say that what is bought and sold here is not a new house, but a second-hand house; On the other hand, the procedures of buying a house, including preliminary investigation, negotiation in the process of buying a house, and signing a contract in the later period, are very complicated. If there is no responsible and experienced real estate escort, I am afraid my heart will be broken and I may not be able to live in a satisfactory house. Therefore, it is very necessary to find a trustworthy real estate agent when buying a house in Canada.