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| Subject: Can a visitor buy a property in CANADA |
Can a visitor buy a property in CANADA for example a house 300.000$
Regards
Speedoflight
[29-02-2008,05:39]
[**.80.162.157]
Speedoflight |
(in reply to: Can a visitor buy a property in CANADA)
Yes.
You will be looking at a 30% downpayment for an uninsured mortgage. and 300,000 is plenty.
But yes, you can.
[29-02-2008,09:09]
[***.66.92.131]
Yojimbo |
(in reply to: Can a visitor buy a property in CANADA)
are you sure Yojimbo
How can I buy with a visitor visa the house, what will be my status in CANADA
are you sure man
Thanks for your reply
[29-02-2008,09:28]
[**.80.162.157]
Speedoflight |
(in reply to: Can a visitor buy a property in CANADA)
Yes you can however your status still as a visitor, purchasing a house has nothing to do with your status.
I am not sure if 30% down payment will cut it though. A person who has no credit history nor a SIN number might have a hard time getting a mortgage.
I think $300,000 might get you a house in some areas.
Go to:
www.mls.ca
There you´ll see some houses and prices depending on the location.
Cheers
Bill
[29-02-2008,11:50]
[***.34.111.122]
Bill |
(in reply to: Can a visitor buy a property in CANADA)
Thanks Bill for your reply
I mean buying a house and pay everything. No need for mortgage. What should I do after my visa expires, will I loose my house, or if I have my house in Canada, it will be easy to get a work permit or something like that . . .
The point and scenario is like this:
As a visitor purchase a house or condo, and with that is it easy to apply for PR, while you are there?!!!!!! or get workpermit
Thanks BILL
[29-02-2008,12:06]
[**.80.162.157]
Speedoflight |
(in reply to: Can a visitor buy a property in CANADA)
Correct me if I am wrong.
You may purchase the house while you are visiting Canada, once your visa expires you may have to leave Canada and you won´t loose your house. Keep in mind that maintenance may be required and you still have to pay property taxes and what have you.
Now, you cannot (in most cases) apply for a work permit or PR while you are in Canada as a visitor. You have to apply from outside of Canada for your work permit. There is a procedure that you and your employer have to follow in order to obtain one.
Once you have been admitted in Canada for a minimum period of a year under a work permit, you may apply for your PR status while you are in Canada. (The process will take place outiside of Canada though).
You may remain in Canada if you apply for PR under the provincial nominee program but elegibility will depend on your profession and the province where you are applying from. (Not all provinces are participating under this program).
Housing and Immigration are two separated bussines in this situation.
Hasta la vista!
Cheers
Bill
[29-02-2008,13:01]
[***.34.111.122]
Bill |
(in reply to: Can a visitor buy a property in CANADA)
Bill I know all rules, that you have to apply from outside, just wanted to know if purchasing will increase chances getting PR easy...
I know about workpermit, provincial nomination etc
Just wanted to know this
Thanks a lot for your help bro
Hasta Pronto :)
Speedoflight
[29-02-2008,16:38]
[**.114.94.17]
Speedoflight |
(in reply to: Can a visitor buy a property in CANADA)
no
[29-02-2008,18:27]
[***.20.79.93]
sharon |
(in reply to: Can a visitor buy a property in CANADA)
Another Advice, if you wanna buy home to get PR, I would use that money and apply for PR under Business class. $300,000 is sufficient for applying as Business class and it only takes about 5 months.
[01-03-2008,02:30]
[**.150.152.21]
Cool |
(in reply to: Can a visitor buy a property in CANADA)
I agree with Bill.
Nothing will happen to your house when your visa expires.
I bought an apartment when I was a student there. My student visa expired a while ago, I left Canada, and that´s it. My apartment is there, I´m not.
Luckily it´s rented and someone there is managing it for me.
I have visited Canada with a visitor´s visa.
When I bought it, I had already lived in Canada for a few years so I had bank accounts, credit record, and was able to get a (uninsured) mortgage relatively easy - they require 30%, and you get the bank´s rate.
The other option for mortgage is finding a private lender, but they will have a considerable higher rate than banks do. A mortgage broker can help you with that.
As Bill said, it will be difficult to find a mortgage (with an acceptable interest rate). But if you don´t need one, then you´re good to go.
Being from overseas, you will need a good realtor familiar with these kind of businesses. He/she will help you with your options, location, documents, and future planning when you leave.
...aren´t you more than half way through the visa process?
Good luck,
Y
[01-03-2008,03:02]
[***.66.92.131]
Yojimbo |
(in reply to: Can a visitor buy a property in CANADA)
btw, if you´re looking at Vancouver I can recommend a realtor - honest, straight forward, and with this overseas buy-sell experience.
[01-03-2008,03:05]
[***.66.92.131]
Yojimbo |
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