I am a beginner and learning about seller/owner financing and I am in Canada. Before I enroll in courses or bootcamps, I am wondering if they are more geared towards US or if can be applied in Canada too?
I am a beginner and learning about seller/owner financing and I am in Canada. Before I enroll in courses or bootcamps, I am wondering if they are more geared towards US or if can be applied in Canada too?
Hi Cecillia, VTB or seller financing can be done in Canada, however most sellers don't understand it and why its beneficial to them. #1 - you have to explain what it is like : "Hey i see this is your vacation property or rental property, how would you like to reduce your capital gains tax? "
or "how would you like to make x% return on your money, beats a gic right?"
Real Estate Agent · Winnipeg MB, Canada · Member since 2021 · 108 posts · 34 votes
2y
Hi Cecilia!
Seller financing is more uncommon in Canada, at least in my experience. Majority of agents have no idea what seller financing even is. Here in Canada its called a VTB (Vendor-take back mortgage). Usually, sellers are only willing to do it if they receive a significant down payment and most will only do a VTB for a portion of the property. Hope that helps!
I am a beginner and learning about seller/owner financing and I am in Canada. Before I enroll in courses or bootcamps, I am wondering if they are more geared towards US or if can be applied in Canada too?
I would think you can do it anywhere. Who can tell you how much you will lend to anyone,
I am a beginner and learning about seller/owner financing and I am in Canada. Before I enroll in courses or bootcamps, I am wondering if they are more geared towards US or if can be applied in Canada too?
Hi Cecillia, VTB or seller financing can be done in Canada, however most sellers don't understand it and why its beneficial to them. #1 - you have to explain what it is like : "Hey i see this is your vacation property or rental property, how would you like to reduce your capital gains tax? "
or "how would you like to make x% return on your money, beats a gic right?"