Buying Real Estate as a Non-resident
Important: in 2023 and 2024 there is no Foreign Buyer Ban in Whistler. Everyone is still able to buy real estate in Whistler. Therefore, this post is for non-residents of Canada who are considering buying real estate in Whistler. Due to the complexities of buying property best to review the Non-resident: Buying page on this site for the full details. It covers the basics of financing and the transfer of funds once you have found a property.
The table of contents on the Non-resident: Buying page includes the following topics:
Table of contents
- Non-Residents Buying Whistler Real Estate
- Buying. Owning. Selling.
- Buying Process for Non-Residents
- Types of Zoning in Whistler
- Tax Considerations
- Four Types of Investment Property
- 1. Rented Nightly
- 2. Business Income
- 3. Rented Monthly
- 4. Never Rented
- Mortgage Financing
- Transferring Funds to Canada
- Property Transfer Tax (PTT)
- Provincial Sales Tax
- Completion of the Sale
- Buying from a Non-resident
- Next Steps
Buying Process for Non-residents
The process of buying a property is basically the same for residents and non-residents alike. The Buying Process is outlined in detail on a separate page. The main difference is the transfer of funds. This can become stressful, as the Contract of Purchase and Sale has a completion date that if not adhered to will cause the collapse of the contract and the seller keeping the buyer’s deposit. In addition, if the funds are delayed and the seller is still keen to complete the transaction, the seller will probably ask for financial payment in order to not void the contract and keep the deposit.
On this site there are several pages to help the non-resident navigate buying, owning, and eventually selling their property. It is always good to know what you are getting yourself into when you start considering Whistler real estate.
- Buying Process
- Non-resident: Buying
- Non-resident: Finance and Funds
- Non-resident: Owning
- Non-resident: Selling
If you think I would be a good fit to work with you and your family, and you are not working with a Whistler realtor, please contact me. I look forward to hearing from you.
It’s a Good Life in Whistler!
Marion Anderson Personal Real Estate Corporation
firstname.lastname@example.org (604) 938-3885