Property for Sale in Canada

From a residency point of view, if you plan to stay in Canada for 6 months or less each year, the government considers you a non-resident, which means that you can still open a bank account and buy property, etc. If you plan to live in Canada for more than 6 months per year, you must apply for immigrant status.

It is important to note, however, that while the majority of Provinces (British Columbia, Ontario, Quebec, Nova Scotia, Newfoundland, New Brunswick) have no restrictions on foreign ownership of real estate in Canada, some do limit the amount of property/land that a non-resident can purchase.

The major advantage of buying property in Canada compared to the UK is that once an offer is accepted, the seller cannot accept another bid even if it is higher. Providing everything is in order the purchase process can be completed within two weeks – at the most 90 days. If you are buying property in Canada, offers have to be made in writing to the realtor selling the property.

The best time to look is spring and early summer. The real estate markets for houses vary greatly from city to city. The bigger the city, generally, the more expensive the real estate.

In an attempt to avoid fees and commissions some people try to do private sales, but the majority of buying and selling is done through real estate agencies.

If you hold a freehold estate, you own both the house and the land that it sits upon and only the government has rights to interfere with the land (it must give notice, of course). Most ownership in Canada is freehold. If you own a leasehold estate you own the house but not the land.