newcomer's guide for buying/mortgage (book)

[MOODfx]

Hi, everyone.

I'm looking for basic guide about buying and financing real state in Canada (BC to be more specific). I'm a newcomer and I find it hard to understand how it works here. I've google it but I was wondering if anyone knows a good book on the subject.

Thanks!

 

[steaky]

I don't need a book in order to buy real estate in Vancouver, so I don't think you need one.

If you are buying brand new condos, just walk into the sales office and the salesperson would guide you in the buying process. If buying second hand, get in touch with a reliable realtor and he/she would guide you the buying process. If you still have questions, post your questions here and I would try to answer them.

If you are neither PR or Canadian citizen, then you will have to pay a 15% land transfer tax upon closing.

 

[MOODfx]

Thanks for the reply and the offer

 

[riasat.abir]

Hi, everyone.

I'm looking for basic guide about buying and financing real state in Canada (BC to be more specific). I'm a newcomer and I find it hard to understand how it works here. I've google it but I was wondering if anyone knows a good book on the subject.

Thanks!

Here you go!
https://www.cmhc-schl.gc.ca/en/co/buho/

 

[steaky]

Here you go!
https://www.cmhc-schl.gc.ca/en/co/buho/

This isn't BC specific!

There is no mention of the 15% land transfer tax for foreign buyers on the above page. This is more relevant:

https://www.cmhc-schl.gc.ca/en/corp/nero/nere/2016/2016-10-06-1200.cfm

 

[COPRQuestion]

This isn't BC specific!

There is no mention of the 15% land transfer tax for foreign buyers on the above page. This is more relevant:

https://www.cmhc-schl.gc.ca/en/corp/nero/nere/2016/2016-10-06-1200.cfm

Hi Steaky, isn't there a tax to pay for PR and Citizens on buying property in BC as well?

 

[riasat.abir]

Hi Steaky, isn't there a tax to pay for PR and Citizens on buying property in BC as well?

Yes you do need to pay property transfer tax if you own a property anywhere else.
But first time buyers are exempt from it.

 

[COPRQuestion]

Yes you do need to pay property transfer tax if you own a property anywhere else.
But first time buyers are exempt from it.

Only first time buyers buying a place for less than 450k though I believe

 

[Rossei]

Hi, everyone.

I'm looking for basic guide about buying and financing real state in Canada (BC to be more specific). I'm a newcomer and I find it hard to understand how it works here. I've google it but I was wondering if anyone knows a good book on the subject.

Thanks!

http://www.canadavisa.com/canada-immigration-discussion-board/first-time-home-buying-advice-t459967.0.html