Update to Foreign Buyers
Two weeks ago I wrote about the new ban on foreign buyers here in Canada. You can read about it here. As new clarifications are coming out almost daily, here is an update based on what I have learned from my underwriters.
If you do not yet have your permeant residency status then you will need to provide your past 3 years of tax returns in order to get approved or pre approved.
Also we talked last about the area’s ( metropolitan and large centres) that you could not buy if you were brand new to the county. In the census data they are referred to as Census Agglomeration (CA) or Census Metropolitan Area (CMA) area’s. To see if the area that you want to purchase is outside of a CA or a CMA, then just click here and follow … Read more