The Buying Process
We are the leading UK agent for Canadian Ski holidays with a vast knowledge of all the Canadian ski resorts. We have excellent contacts throughout Canada who can make the buying process easier for you. Not only do we have relationships with the resorts and their property departments but also with a team of lawyers and mortgage companies. Additionally, we offer up to £500 off your holiday if it results in a sale.HOW IT WORKS
Take a look through our site. We have hundreds more properties than are listed here so if there is nothing that appeals to you please contact us with your requirements and we will contact our agents in Canada to find a property that will tick all the boxes! If one is not available immediately your details will be stored and as soon as one does come on the market we will contact you. If you find a property you are interested in we will put you in touch with the agent or resort developer and they will send you more information and discuss an inspection trip (which we can help arrange). They will also help access the finest lawyers, mortgage brokers and tax advisors to make the process seamless.
When you're buying a property abroad there is so much to think about - from location to number of bedrooms, rental income potential to instructing a solicitor to do your searches - but the number one aspect on most people's minds from the word go is the fiscal one. This is of course compounded because you're buying in a foreign currency.
The financial aspects of buying a home in Canada do include currency conversion, but they go far further than that. So, if you're planning on immigrating to Canada, retiring or even buying an investment property in Canada, this guide to the economic essentials involved in a Canadian real estate purchase should assist you.
The first thing you need to think about is whether you will need a mortgage to buy in Canada. If you're going to be living in Canada or indeed, if you want to secure your mortgage in Canadian dollars, it may pay to speak to a Canadian bank about whether they will lend to expatriates and international citizens. If you have a good credit rating in the UK however, you may find you get preferential rates from a British lender who offers international mortgages.
There are international mortgage brokers out there who can help – but generally speaking, they cover a small number of lenders in a large number of nations rather than lots of lenders in many countries. So you may get further if you investigate your options by yourself.
With a mortgage at least agreed in principle you should know how much you have to play with in Canada. Now, because of the fluctuating exchange rate it is going to be very important that you allow yourself some room for movement when looking at properties, avoid homes close to the top of your budget range as an adverse movement in currencies could see you falling short of the asking price after making an offer.
You must also speak to a currency specialist about fixing your rate of exchange the closer you get to a purchase. You have a number of options, you can purchase Canadian dollars with your deposit monies at a set rate or you can take an option to buy when the exchange rate reaches a certain point. Take expert advice on this and do not leave it until the last minute either.
With an idea of what you can spend in mind it's time to go house hunting in Canada! Once you have found a property, rechecked your finances and made an offer, any preliminary contract signed needs to be subject to you getting the mortgage you need to buy your Canadian real estate. When it comes time to transferring money in to Canada you must ensure you get a Certificate of Importation for the money from any bank you move the cash to so that you can prove where the money originated from and where it went in the event of questions being raised later on.
It will be wise to open a bank account in Canada or an international account from which you can pay bills for your Canadian home. And make sure you have enough available to cover your mortgage costs, regular bills and taxes otherwise you could encounter serious problems such as a downgrading of your credit rating or even repossession of your home.
Finally, don't forget to factor in the additional purchase costs when buying a home in Canada, these can add up to 10% on depending on what is included in the purchase price and the province in which you buy. Ask your realtor and solicitor up front about these costs before you commit to buying a Canadian home.