Toronto and Vancouver are Canada's most populous cities, attracted by the natural environment and educational resources and other favorable conditions, in recent years to buy a house in Canada, more and more mainland buyers, and mainland immigrants to the real estate business some of the questions gradually Emerge.


Initial questions:


1, to buy a house in Canada can immigrate it?

A: Can not immigrate. You buy a house in Canada is a commercial investment behavior, but this investment is an individual investor behavior, the Canadian government does not control and management of eligibility, because the application of Canadian investment immigrants must be placed under the Canadian government designated funds under the jurisdiction of the applicant Investors are not eligible to invest in Canada to buy a house in Canada, and so far the Canadian government has not opened a similar policy.


2, whether to buy or sell their own to Canada?

A: If the buyers need to apply for a loan from the Bank of Canada, I can conditionally go to Canada, if the conditions do not allow do not need to come to Canada, we provide a full range of home buyers one-stop legal services to complete the purchase agreement and signing, Sign a loan document with the bank. If you do not need bank loans, you can fax signed the purchase contract or agent to pay the deposit, inspection and delivery of the relevant procedures. The real estate agent you hire will deal with the documents you need to sign during the sale and purchase process by means of modern means of communication, such as fax, scanning and mail. The house inspection report is issued by the registered third house inspector. To the Property Board to obtain property documents by the buyers and sellers to complete their respective lawyers.


3, the Chinese people in Canada to buy a house what restrictions?

A: Foreigners or non-residents of Canada are free to buy and sell Canadian real estate. Under the Canadian Citizenship Act, non-Canadian residents are also able to purchase, hold and sell real estate in accordance with the same rules and conditions as those of a Canadian resident or citizen.


4, foreigners in Canada to buy a house have any requirements?

A: Foreigners need to open a local bank account in Canada.

Regardless of whether it is a Canadian resident, need to maintain a good credit history.

Foreigners need to have enough down payment.

Foreigners may authorize relatives or friends in Canada to act as agents to complete a mortgage loan.

Foreigners need to manage and arrange bank accounts in Canada.

When a foreigner buys a house, he or she will ask the lawyer to make a note of the "foreign tax terms" when registering the property rights, that is, when the borrower is still a nonresident, the added value is subject to partial tax.


5, foreigners in Canada to buy a house down payment how much money?

A: Foreigners to prepare at least 35% of the down payment, and asked the money to purchase agreement signed a month before the remittance to the buyers account, the lender also asked the lender to buy home loan insurance.

6, Canada's most real estate investment value of the city which?

A: Toronto and its surrounding cities (Ontario), Greater Vancouver (British Columbia)


7, would like to buy a house in the Chinese more cities, the election which?

A: Toronto (Ontario) is the largest city in Canada. Ontario is the richest and most important industrial province in Canada. It controls the country's economic and political lifeblood. Yishanbang Lake, a beautiful environment, attracting a large number of new immigrants each year. Chinese people account for a higher proportion of the local population, with a greater influence. Toronto for many years to obtain the world's livable city top three.


Housing problems:


8, Canada is to buy a new house or old house?

A: buy a new house is mostly uncompleted, it can not immediately stay. And the price is much higher than the surrounding old house, which for self-occupation needs of new families, the new house is clearly not the best choice.

On the contrary, second - hand housing can basically stay immediately, and at any time by real estate brokerage arrangements showings. Even some of the older second - hand housing facilities, such as kitchen and bathroom, but as long as the pattern is reasonable, with simple decoration, the same can have a new home feeling.


9, Canada's civil residential general sub-which?

A: Detached house (DETATCHED, also known as SINGLEHOUSE): is built on the land belonging to a single independent housing, the owners have the right to housing and land, no management fees.

Semi-detached house (SEMI-DETATCHED): one side of the house with the other wall of the house connected, no management fees.

Townhouse (TOWNHOUSES): a row of houses on both sides are connected, there are management fees and no management fees are two, depending on whether the property is shared with other owners of the common and co-management part.

Condominium (CONDOMINIUM), each unit has a separate owner, and other owners have their common and shared part of the right, there are management fees.


Process issues:


10, the basic process to buy a house in Canada is what? Canada to buy a house "under the offer" What is it?

A: In Canadian real estate transactions, Offer is actually an "Agreement of Purchase and Sale", which may be prepared by the buyer or prepared by the seller but usually by the buyer. The buyer's broker The seller can Counter Offer (counter-offer), the buyer can also go back, after a few rounds, the two sides agreed to the Offer on the signature, the Offer is to become the buyer's name, A legally binding contract, both sides should abide by.

A standard purchase offer usually includes the following:

(1) basic details: the seller, the name of the buyer, the address of the house for sale.

(2) the purchase price, including the deposit, down payment and bank loans.

(3) the handling of personal items, such as curtains, kitchen appliances, washing machines and dryers, etc. are left.

(4) buyers and sellers bear the basic responsibilities and obligations.

(5) submitted to the time and request the other party to reply.


11, how in Canada, "grab a sign letter of intent (offer)"?

A: The first to understand the market. Especially in the face of lower asking price of the house to cool the real analysis of the housing market price. At the same time set their own love of the degree of housing and are willing to pay more for this price. The sum of the two is roughly the price should be out. The price I like to call it the price of no regrets. Whether it is to buy or not to buy will not regret it. Need to point out is to grab the Offer to buy a house with the general process of the biggest difference is that the intermediate links are often rounded, but not the actual bargaining after several rounds. So the best bid in place, so as not to lose the opportunity.

Second, prior to the bank to do a good job in loan assessment or pre-approval, to understand their own bottom line is the number of their ability to bear to bear in mind.

Third, prior to inspection, it is best to give up inspection conditions, but can not be generalized.

Fourth, ready to deposit, and finally move the date specified in the agreement.


12, sign offer, can go back?

A: If you grab the Offer, bidders generally have to submit a 5% price check to the seller, the buyer if the go back, the money will be taken away by the seller, so this time to go back there is a clear cost. Even if the buyer has not yet submitted a deposit, so the risk is small, but can not hold lucky attitude, try to deal with the matter.


Loan issues:


13, whether foreigners can purchase a bank loan to Canada; how much credit; whether and housing age, the age of the purchaser?

A: Can the loan, the Canadian residents can easily be 70% of the price of loans, non-residents of Canada can be loaned to 60% -65%. Loans can be divided into 20-25 years amortization, the current lending rate is much lower than China. Loans and age of the house has nothing to do, and the age of the purchasers have nothing to do, which also reflects a certain extent, the confidence of Canadian banks on house prices.


14, foreigners apply for housing mortgage loans compared with the local residents have any special requirements? How to apply for it?

A: Foreigners applying for a home mortgage loan need to open a fully functional account with the Bank of Canada in order to pay monthly payments. Banks and financial institutions need to look at the basic information, income, credit, down payment and housing conditions of the loan applicant. However, based on the special circumstances of foreigners, there is no local credit history when applying for a loan in Canada. There is no special distinction between the other residents and the local residents.


15, the purchase of housing loans need to prepare what documents?

A: The purchase of housing loans need to prepare the document about three parts: housing materials, personal materials and down payment materials.

First, the housing material is mainly housing purchase contract, if it is to buy new houses, you need to sign a purchase contract with the developer.

Second, the personal material is the most detailed part of the bank audit, if you are a full-time employees, the general must be prepared materials include:

(1) Letter of Work: Printed on the company letterhead, indicating the company name, address, telephone number and fax number, indicating the applicant's full name, full-time, starting time, position and salary.

(2) salary stubs, the company issued a payroll.

(3) Some banks will also require the tax office to provide the tax bill.

Third, proof of all or part of the down payment in the local bank account.


16, signed a housing sales contract, but can not get bank loans how to do?

A: Most people need to apply for bank loans to buy a house, and many people are in the signing of a contract to buy a house after negotiations with the bank loan matters, it may be signed but can not get loans to the situation. In this case, how to cancel the contract but to avoid liability for breach of contract it? Buyers in the purchase contract must add a condition clause (condition clause), which allows the buyer to apply for a loan within a few days, if you can not get the required Loan quota or interest rate standard, the buyer has the right to cancel the contract, all deposit returned to the buyer, the two sides are not held accountable.

This clause is not included in the standard contract, the buyer according to their credit ability to join this clause in the contract, to be able to leave a retreat to their own, and will not get loans because of default. Similarly, if the buyer and seller before the transfer of housing requirements of a certain conditions must be met, such as the buyer asked for inspection, or to sell the existing house to buy a new house, etc., then the two sides must put their requirements in the form of conditions Write the contract, in case the condition is not reached, you can cancel the contract.


Real Estate Brokerage:


17, buy a house need real estate broker?

A: In the country to buy a house, not necessarily looking for real estate brokers, as long as the buyers and sellers agreed, directly to the seller to pay back the principal is. The other hand, buy a house of procedures, including pre-inspection, buy a house in the process of negotiations, the latter part of the process of signing the contract is very complicated, if there is no such thing as the second-hand housing, A responsible, experienced real estate broker to escort, I am afraid that the broken heart is not necessarily able to live on the satisfaction of the house.


 18, how to choose the trust real estate broker?

A: First of all, the broker must be registered in the local real estate and accept the relevant legal constraints of economic people; Secondly, the Canadian real estate trading operation and China is different from the vast majority of houses are hanging on the real estate website on the public sale, Which means that all brokers face basically the same housing, so the housing in the pricing of natural market constraints. Because of the transparency of information, driving up house prices is almost impossible. Weili Group by virtue of the Toronto area of ??real estate for many years of experience, to provide you with one-stop purchase services to help you realize the dream of Canada!


19, Canada real estate brokers charges What is it?

A: In the process of buying and selling houses, the seller and the seller are responsible for the costs of the buyers and sellers. The standard calculation of the brokerage fee is that the first 100,000 of the selling price is paid at 7% and the remaining part is paid at 2.5%. For example, a 100 million real estate, brokerage fees calculated as (100,000x7%) + (900,000 x2.5%) = $ 29,500. The seller's broker received a total of 29,500 yuan, the seller brokers get 54% of the total, the buyer brokers share 46%, so in this property, the seller brokers earn 15930 yuan, the buyer brokers get 13,570 yuan.

Tax issues:


20, Canada need to pay a deposit to buy a house?

A: Yes. Buy a house deposit is generally 5% of housing prices, the amount of the contract to talk about within 24 hours after the payment, and will become the first payment of the transaction date part.


21, Canada 's first purchase tax relief?

A: If you are buying a property in Canada for the first time, you can apply for a tax credit of up to $ 750.

This new tax credit is to be implemented starting in 2009, and the tax credit is calculated by multiplying the tax rate by 5,000 yuan (15% in 2009) for the first year of the year, amount.


Insurance issues:


22, housing insurance must buy it?

A: Although the law does not require residential property to buy insurance, but because the provision of mortgage services banks require customers to buy insurance for the house, so have to buy. For Canadians, the first thing to buy a home is to buy home insurance. The purchase of housing insurance is not only to reduce the risk of bank loans for households can also be a good control of the accident caused the loss.


Revenue Issues:


23, in Canada to buy a house, how high the rate of return on investment?

A: Investing in real estate in Canada, and accurately calculating the return on investment, is the most critical issue in deciding whether to invest in real estate and how to invest in properties. Simply put, the return on investment is the investment generated by the proceeds and the proportion of investment principal.

Typically, the greater the proportion of loans, the higher the return on investment, but the lower the cash flow. When the loan is repaid, the cash flow is the best, but the return on investment is the lowest. 20% down payment in Toronto downtown apartment investment, in accordance with the current lending rate, the annual return on investment can reach 8-9%; North York or other local apartment building investment return rate of 7% -8%.


24, Chinese investors how to sell in Canada?

A: First, a clear reason to sell

Second, do a good job before pricing the market research

Third, visit someone else's OPENHOUSE

Fourth, only with the serious and responsible excellent broker

Fifth, the house, the appearance left to the buyer (prospective buyers) the first impression is very important to be carefully decorated, and strengthen visual effects, removal of housing odor

Sixth, not afraid of exposure of the house

Seventh, talk about the process of price should be a good mood control

Eighth, fully understand your buyers

Ninth, sell, do not move out

Tenth, confirm that the contract is complete

When non-Canadian residents sell real estate in Canada, all capital gains are taxed. The normal Canadian rate is 50% of the revenue. Nonresidents, however, are required to pay an estimated amount of tax equivalent to 25 per cent of the proceeds before the sale.

This portion of the tax is retained by the seller's attorney to the Canadian Revenue Agency (CRA) for issuance of a clearance certificate for the sale of the property. After payment, the Canadian Department of Revenue will issue a clearance certificate to the seller after all conditions of the contract have been removed. Certificate issuance period is usually 6 to 8 weeks. If you do not obtain a certificate, the buyer will not be able to continue the transaction, but also detained 25 to 50% of the principal.

The mortgage is transferred to the seller's attorney before the deadline, and then to the seller, who then transfers the property certificate to the buyer's name.

The seller, if not a Canadian citizen, should file a Canadian income tax return for the current year of the transaction and receive a partial refund of the tax paid. Canadian property taxes depend on whether the property is used primarily for residential purposes or for rental purposes. If it is used as a rental property, it must pay a non-resident tax of 25% of the total rent paid for the tenant. However, if a professional property manager is hired, the manager will withhold 25% of the rent in accordance with the law, ie, only 75% of the rental income is to be reported to the Inland Revenue Department. Then, by March 31 of the following year, the property manager issues the NR4 form, and the owner has the right to file the Canadian tax return. Tax returns must be issued by June 30.

Many countries, such as the United States and Canada have a tax treaty, which is to prevent citizens from being subject to secondary taxation. It is recommended that you consult Canadian tax accountants for more information before selling.


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