Foreign Investors

The Real Estate Market in Canada is closely regulated by regulatory bodies and federal laws. As in any country, there are specific laws which govern foreign investment in Canada. Joanne Ennis is well versed in foreign investment transactions and will provide a personal consultation with specific enquiries.

Key features

In British Columbia, Canada a real estate agent has the ability to access any property listed with any other Real Estate company in British Columbia.

In British Columbia, Canada only one real estate agent per area is required.

There is a purchasing process and one process for all

Once an Offer to purchase is accepted by both parties, the accepted Offer cannot be revoked by the Seller at any time

The Purchaser has the choice and control of owning the property or not by removing the Purchaser’s subject clause(s) or not. If the Purchaser chooses not to proceed with the purchase, the Purchaser simply does not remove the subject clause(s) and is no longer legally bound to purchase the property

Once subject clause(s) are removed by the purchaser, they are legally bound to purchase the property and therefore are the owner upon the completion date (date agreed by Purchaser and Seller). The transfer of the Title of the property (or deed) takes affect on the completion date.

Typical Subject Clauses

Financing - making sure you are able to fund the purchase from abroad or within Canada.

Title Search - making sure that there are no liens/charges, and the name on the contract for purchase and sale is the same as on the Title.

PDS [Property Disclosure Statement]- a mandatory form all Sellers have to fill out providing an overview of their home/property.

Inspection - hiring a qualified Home Inspector to provide a detailed report of the home including repairs that may need, will need and won’t need for consideration.

Strata Documentation - if the property at hand is a strata property [town home or condominium] you the Purchaser are entitled to review all meetings, minutes, agendas and finances pertaining to the strata property.

Joanne Ennis will assist you throughout the process and can provide further detailed information or answer your questions directly providing you with a custom tailored Offer of Purchase and Sale and a successful experience.

joanne@blacktuskrealty.com
www.squamishrocksrealtors.com
DIR: 604-898-6840
TEL: 604-898-5904
TF: 1-888-931-0022