The Canadian property purchasing process closely resembles its American counterpart, with oversight and listing information provided by the Canadian Real Estate Association. Prospective buyers should factor in taxes and fees when pricing properties, including a Goods and Services Tax on new housing, Realtor and attorney charges and costs associated with land transfer and mortgage loan coverage. See the following article from International Property Journal for more on this.
buying Canada real estate
Toronto, Canada
Anyone familiar with transactions in the United States won’t have any problem navigating the Canadian system. There are few restrictions on foreign ownership and the process is full of checks to protect both buyer and seller.
In many ways the system mirrors the United States, with the Canadian Real Estate Association overseeing the licensing and ethical standards of Realtors, much like the National Association of Realtors in the U.S. CREA owns the MLS trademark and operates Realtor.ca for residential properties and ICX.CA for commercial listings, which include listings from regional boards around the country. The CREA site also includes the latest data on prices and sales.
