# Info about buying a house in Canada



## ET67 (Mar 3, 2010)

Hi,

Finally, it seems that we can move to Newfoundland (Canada) in march/april 2014. I was looking at some real estate sites and got some questions:

In the Netherlands the price is listed with the letters "k.k.", which means around 6% extra costs for notary, taxes, etc. In the listing in Canada, I don't see that. Are there extra costs involved?

Do you also go to a notary, etc?

What to look for/check before buying?

Does anyone have experience with getting a mortage as a fresh landed immigrant? We have our PR Cards and I've employment.

Hopefully some has some answers.

Thanks,
Edward


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## Auld Yin (Mar 10, 2009)

Buying a house in Canada is a straightforward process. You should engage a real estate agent and provide details of what type/size of property you desire. There is no fee for this, whatever agent makes the sale is paid by the vendor. There will be lawyers' fees upon completion of the transaction. It is advisable you have an inspection done before buying to determine any problems with the property you will be responsible for this cost.
As a PR obtaining a mortgage should be easier. If you have less than 20% down payment then you will need to purchase default insurance. This can be paid direct by you or added to the mortgage amount.


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## ET67 (Mar 3, 2010)

Thanks for your answer.

About the lawyer fee: is this a fixed amount or a percentage of the amount the house is sold for? 

Can someone give an indication about this?

Thanks in advance.


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## Auld Yin (Mar 10, 2009)

You should negotiate the fee with the lawyer. There is no set fee for conveyancing but it will increase in accordance with property value. I think you should expect to pay 0.5 to 1%.


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## EVHB (Feb 11, 2008)

Even with 90% downpayment (!) and a PR card, it wasn't possible for us to get a mortgage during the first couple of months, and overall, that's what I hear from other people who moved from Belgium or the Netherlands to Canada. They first want you to build up a credit history/credit score. Overall, I see that it takes -best case- 1 year up to 2 years before the bank wanted to give that much money to the new immigrants. So let's hope you are luckier in Newfoundland than the stories I heard from Ontario, BC and Alberta the past 3 years.


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## winterholidays (Jan 6, 2014)

ET67 said:


> Hi,
> 
> Finally, it seems that we can move to Newfoundland (Canada) in march/april 2014. I was looking at some real estate sites and got some questions:
> 
> ...



When you buy property the first thing you need to look for is the price that you are willing to pay and location (whether the house is near the school for your kids, neighbors, shops, noise etc. Some even go to neighbors to ask them about the area, it’s really important to know where you are going to live and with whom by your side. You need to check if all the documents are ready and if the house is in good condition. Consider the roof whether it needs repairing, the basement, leaky sinks. Also you need to check hot water system, heating (it should have good insulation). You can always negotiate the price with the owner if you need to make some repairs. Moreover, make sure there is no mould there that can cause you lots of problems. Check for Internet access and electricity. The old wiring is the biggest expense! Hire a lawyer to make sure all the document are ok. If you want to know about the mortgage you need to go to different local banks and ask them directly about the terms they can provide you.


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