Looking for a trophy property in Vancouver? We specialize in international VIP buyer representation for:
Presale - High-end presale condos
VIP Buyer Alert: The two most prestigious and iconic new landmark addresses in the city's history, Vancouver House and Trump Vancouver are selling out quickly. We have floor plans and pricing available. You don't need to come to Vancouver to own a piece of Vancouver history in either of these buildings, but you do need to act quickly. We can facilitate your purchase remotely. If you are interested in either of these buildings, please
contact us right away.
Resale - High-end condos, townhouses, & penthouses
( The Erickson, King's Landing, Shangri-La, Fairmont Pacific Rim, One Harbour Green, Two Harbour Green, Three Harbour Green, etc. )
Resale - High-end houses
( Shaughnessy, The Golden Mile, Point Grey, Southlands, etc. )
Consistently ranked the second most expensive city in the world, and the most liveable city in North America, Vancouver has repeatedly bucked global real estate downturns. Competition is fiercest at the high end where trophy properties in Vancouver's most desirable buildings and neighbourhoods continue to break price records.
Whether you are looking at presale or resale real estate investments in Vancouver, our local market expertise will enable you to understand opportunities where negotiating room does exist, and where you should move quickly before the market's best opportunities are snapped up.
We have team members who are fluent in most languages including Mandarin, Arabic, French & Russian. If you have a language preference other than English, please indicate your language preference in the form.
Buying a Home in Canada
In British Columbia, there is no restriction on non-Canadian residents purchasing property. The government defines a non-resident as any individual staying in the country six (6) months or less out of a year; a resident is an individual that stays in the country for greater than six (6) months in a given twelve (12) month period. You will be required to open a bank account to purchase a home.
Please review my buyer's page if you wish to better understand the process of purchasing a home or investment property.
Financing your purchase
Foreign banks will not lend if the security for the loan a property located in Canada, so any mortgage would have to be placed with a Canadian Bank or Mortgage Brokerage. Financing is available for up to 65% of the purchase price of the home for non-resident purchasers.
In Canada, the typical mortgage is a twenty-five (25) year ammortization. Interests Rates can be fixed for periods of one (1) to ten (10) years.
Non-Canadian Residents will typically need to supply the following items:
- Reference Letter from your current Financial Institution
- Three month history of bank or brokerage statements
- Personal net worth statement
- Completed mortgage
- Two (2) Pieces of Picture ID (Copy)
Selling a Home in Canada
The sale of a property in Canada is much trickier than purchasing a real estate investment, as the owner may be exposed to tax issues which factor in both the rental income received and the capital gains on the property.
For the most part , non-Canadian residents are subject to tax on any rental income and capital gains from the sale of a property but only 50% of the capital gain is taxable. It is best to contact a Tax Account or Lawyer prior to commencing with the sale of your property.
To complete the sale, a Clearance Certificate from Revenue Canada must be obtained. It is best to speak to a lawyer to obtain this Certificate at an expected cost of $500. The process involves an accountant filing an income tax return on behalf of the property owner (seller). The Clearance Certificate outlines to CCRA that there are no outstanding tax issues with the property. In the event the Clearance Certificate cannot be obtained by the closing date, there will be a holdback by lawyer that is between 33% - 50% of the sale price. The normal time table to receive a Clearance Certificate is six (6) to eight (8) weeks, so it is very important that the seller has enough funds to pay off any oustanding mortgage balance.
If you are looking to own the best of Vancouver,
start here.
