Real Estate as Proof of Fund

[TajNovice]

Hello Friends,

Can I show my appartment instead of Proof of Funds since its market price is greater then wgat CIC requires ( (in my case for 4 members).

Thank you and appreciate any thoughts on this.

 

[CanadaWeCome]

Hello Friends,

Can I show my appartment instead of Proof of Funds since its market price is greater then wgat CIC requires ( (in my case for 4 members).

Thank you and appreciate any thoughts on this.

No, As per IRCC requirement, the funds must be unencumbered.

 

[sushsmart15]

Only liquid assets can be shown in POF.

 

[Stanlee]

Hello Friends,

Can I show my appartment instead of Proof of Funds since its market price is greater then wgat CIC requires ( (in my case for 4 members).

Thank you and appreciate any thoughts on this.

As per the requirement, the funds should be unencumbered and readily transferable. The proof of owning a house is not accepted as POF by CIC. However, at any points of time, you plan to sell the house, the proceeds from the sale can be submitted as POF.

 

[xpressentry]

It needs to be hard cash in your name.

 

[Stanlee]

It needs to be hard cash in your name.

Not necessarily hard cash, but it should be liquid funds.

 

[TajNovice]

Thank you all for the replies. I appreciate that.

 

[goyal.maninder]

If I have a house loan, can I provide house current valuation certificate as well to show net asset instead of liability?

I am concerned that including only Loan (liability) and not House (asset) will distort my financial profile.

I can provide a declaration that I am intending to sell the house when leaving this country.

Please advise?

Thanks in advance!
MP

 

[Stanlee]

If I have a house loan, can I provide house current valuation certificate as well to show net asset instead of liability?

I am concerned that including only Loan (liability) and not House (asset) will distort my financial profile.

I can provide a declaration that I am intending to sell the house when leaving this country.

Please advise?

Thanks in advance!
MP

No, asset valuations will not be accepted as POF.

 

[goyal.maninder]

No, asset valuations will not be accepted as POF.

Thanks Stanlee.