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Buying property in Canada is usually a simple and straightforward process – not every transaction is perfect, but the developed nature of the property market means there are many professionals available at every turn to aid in the buying process. First, as always, a local trusted lawyer should be employed to help with all dealings and help avoid any potential legal pitfalls. Once a property has been decided upon, an ‘offer to purchase’ is drawn up, signed by all involved parties and a deposit of around five percent is paid. Once all applicable legal checks have been carried out, the main contract signing can be finalised and all outstanding fees and taxes paid in full. Documentation is then sent to the local land registry for the sale to be finalised. Notary, lawyer and estate agent fees vary, and taxes usually come to around ten percent of the total cost of the property.
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