Buy a house in BC

[simarshergill]

Hello,

I just got my post graduation work permitin may 2015. I have full time job offer.
I want to know the procedure to buy a house in BC.

 

[scylla]

Start reading here:

http://www.recbc.ca/consumer/buyinghome.html

Once you are ready to start looking, I would very strongly recommend that you find a real estate agent to work with. Don't do it alone.

 

[howiejao]

Hello,

I just got my post graduation work permitin may 2015. I have full time job offer.
I want to know the procedure to buy a house in BC.

1. Get Pre-approval from the bank
2. Find Realtor and they will do all the below for you
3. Looking for home
4. Send offer
5. Accept offer
6. Subject remove - offer firm
7. Pay deposit
8. Find Notary/Lawyer
9. Pay the rest of the down payment
10. Wait for possession date and obtain key
11. Celebrate!

Fees involved in purchasing home:
1. GST (if brand new)
2. notary/lawyer fee
3. appraisal fee
4. inspection fee
5. property tax adjustment

Mortgage
Typically you can get a mortgage with 20% down payment. If your down payment is less than 20%, you'll have to pay an insurance which is a percentage add onto your mortgage.