Financing for International Purchasers - Requirements...

Financing for International Purchasers
Standard Requirements For Non-Residents

Information required:

Personal:

• Customer Name
• Address, length of time at address and phone numbers.
• Occupancy Status: Rent, Own, Live with Parents etc.
• Dates of birth.
• Social Insurance Number (Canadian), National Insurance Number (UK)
• Marital Status and number of dependents.

Employment Information:

• Name of Employer, address and phone number.
• Occupation
• Gross Monthly income
• Length of Employment

Assets:

• Residence (please also state value)
• Vehicles (make, model, year and value.)
• Investments (Company held with and value)
• Bank accounts (with who and amount on deposit)
• Any thing else owned by client and considered to have value. Ex: Boat, rental etc.
  Liabilities:
• Mortgage (amount owing, with whom and payment.
• Loans. (With whom, amount owing and payments.)
• Credit cards. (With whom, limits and amount owing.)
• Amount of Property taxes, Condo Fees etc.

Process

• Meet with Jessica Stoner to draw up offer to purchase. Initial down payment required.
• Meet with Mortgage Broker to process mortgage application.
• Mortgage approval obtained.
• Appraisal of property ordered by lender.
• You waive conditions on offer to purchase.
• You set up bank account in Canada (this has to be done in person) and contacts Lawyer.
• You forwards remainder of down payment to Lawyer and arranges signing of documents.
• You takes possession of property.

(Jessica Stoner of RE/MAX Alpine Realty is a licensed agent in Alberta and represents International clients purchasing real estate in Canmore)