Whistler Real Estate Buyers & Sellers
Financing for Non-Residents
Of particular note for non-residents of Canada
Mortgages – Mortgages in British Columbia differ from those available in the United States and other countries in several significant ways including the following:
- The mortgage is for a fixed term, typically between six months and five years. At the end of the fixed term, the interest rate is renegotiated.
- Canadian mortgages are typically amortized over a 25 year period, unless otherwise arranged.
- During the fixed term, there are limited rights to repayment, typically ranging from 10 to 20 percent.
- To buy property in B.C. from outside the country, an investor must have a minimum of 35% to 50% deposit if mortgaging is required.
For further detailed information about mortgages in Whistler please refer to one of our mortgage brokers.
Seller Non-Residents
Clearance Certificate – Prior to the completion date of the transaction you are required to obtain a Clearance Certificate from Revenue Canada. Due to long waits (6-8 weeks), it is advised you contact your lawyer or accountant immediately upon the acceptance of an offer.
Financing for Non-Residents
Of particular note for non-residents of Canada
Mortgages – Mortgages in British Columbia differ from those available in the United States and other countries in several significant ways including the following:
- The mortgage is for a fixed term, typically between six months and five years. At the end of the fixed term, the interest rate is renegotiated.
- Canadian mortgages are typically amortized over a 25 year period, unless otherwise arranged.
- During the fixed term, there are limited rights to repayment, typically ranging from 10 to 20 percent.
- To buy property in B.C. from outside the country, an investor must have a minimum of 35% to 50% deposit if mortgaging is required.
For further detailed information about mortgages in Whistler please refer to one of our mortgage brokers.
Seller Non-Residents
Clearance Certificate – Prior to the completion date of the transaction you are required to obtain a Clearance Certificate from Revenue Canada. Due to long waits (6-8 weeks), it is advised you contact your lawyer or accountant immediately upon the acceptance of an offer.