Non-Resident Clients

This information is aimed at helping our many international clients who are not residents of Canada.

Before buying or selling property you should always consult an expert whether you are a resident or non-resident. This way you ensure the best possible outcome for your deal.

Execution of Mortgage Documents

The most important aspect of executing the mortgage documents is ensuring that sufficient time is allowed to courier the documents.

Depending on your lending institution you may be required to have a notary witness the documents in person at the bank in Whistler. Once a commitment letter has been signed with the lender mortgage security must be drawn up, before the documents are couriered to the borrower for execution. Faxes and other methods of transmission are not possible in this case.

Methods of Payment

It is important to research exchange rates prior to the completion date of the transaction as rates can fluctuate from institution to institution. It is also recommended to open a bank account in Pemberton for the transfer of funds, with the payment being made by certified cheque or bank draft.

Completing the Transaction

It is critical to complete transactions on the designated completion date in British Columbia. As with mortgage documents, some lending institutions require you to sign the transfer documents in person with your Canadian lawyer. The vendor has the option of canceling the contract of Purchase and Sale should the funds not be paid on the stipulated completion date, and, in this case, they are entitled to retain the deposit. It is not uncommon for vendors who wish to continue with the transaction to demand interest or additional charges for extensions for late completion.

Required down payments for a Canadian Mortgage

  • For the first $400,000, a down payment of 35% is required.
  • For the next 300,000, a down payment of 45% is required.
  • For the remainder, a down payment of 50% is required.
  • An example: If the purchase price is $800,000 the maximum mortgage allowed is $475,000.


For more detailed information, including what happens when a property is sold, income tax and GST information, please visit our Whistler site or contact one of our Realtors.