South forest hill residences.The whole process of Canadian immigrants buying a house. Buying a house or renting a house has become a hot topic recently, although house prices in Canada have been rising recently, but friends facing entry are also very urgent to buy their own property.Please Visit: South forest hill residences to Get Your VVIP Registration Today!
1. Set a budget.
two。. Pre-approval letter for housing loan (optional).
3. Real estate agent.
4. Choose a house and look at a house.
5. Draw up a contract and issue a letter of intent to buy a house.
6. Formally sign a house purchase contract.
7. Room inspection.
7. Hire a lawyer.
8. Buy housing insurance.
9. Final inspection.
10. Delivery date (closing day).
First, draw up a budget.
The main purpose of the budget is, first of all, to determine the price range for the purchase of a house, and then to determine the amount of down payment, estimate the taxes and fees incurred in the purchase process, monthly loan payments and other housing expenses, such as property tax, water and electricity network, and other expenses.
First of all, be clear about your needs: whether you live in your own house, invest in it, or change your house. Everyone’s ideas and needs are different, so the house they choose will be different.
II. Letter of advance approval of housing loan.
It is not necessary to apply for a home loan approval letter to buy a property in Canada. It is proposed because it can gain many benefits, such as:
1. Let home buyers know the extent to which a loan can be approved to buy a property in Canada, so that they can budget their own funds in advance.
two。. After understanding the loan, the amount of monthly commitment can enable home buyers to better plan their monthly property. Mortgage interest rates can also be locked, generally locked for 120-160 days.
3. When looking for a real estate agent, people will speed up your purchase when they see that you have a pre-approval letter, because they believe in your purchasing ability and will not procrastinate.
Application for pre-approval letter is generally handled by Pre-approval, which requires the submission of personal ID, asset information, income certificate, debt certificate, work certificate, etc., if you do not want your credit information and loans to be affected, it is best to repay all foreign debts before the loan, so that the approval rate is larger, and the pre-approval letter has a time limit of up to four months and one month at least.
III. Real estate agent.
Overseas real estate agents are divided into buyer’s agent and seller’s agent. If you do not understand the Canadian housing market, it is recommended to find a buyer’s broker. This kind of broker is recommended from the buyer’s point of view. They can better understand what kind of real estate buyers need, and will integrate the local housing market information when recommending. Good advice can also be provided on house selection, bargaining and lawyer selection.
The procedures for overseas property purchases are complicated, and having professionals around to help you can save a lot of time and energy. In the process of buying a house, if you have any questions you don’t understand, you can ask the broker, and he will give a more comprehensive answer. Professional brokers will have a mature network of real estate-related services, such as home surveyors, lawyers, bank loan officers, home insurance clerks, decorators, and so on. The choice of real estate brokerage companies must find formal, authoritative, reliable, so that they can give themselves more protection.