Buying Land in Nova Scotia

If you are a non-resident and want to purchase land with a resident, banks in Canada will require a higher down payment.
A deposit of 5% of the asking price would be held in escrow with a lawyer of your choosing here in Canada. Once closing costs and final paper work has been complete to your satisfaction you would transfer the remaining balance into escrow whereby the deed to your new property would be transferred to you.
You can purchase a lot using certified check/bank draft or cash.
Before Closing:
Deposit (usually 5% of the purchase price, paid within 24 hours of your offer being accepted)
Property Appraisal ($400- $500, often paid by the lender)
On Closing:
Balance of Purchase Price (the purchase price less your initial deposit.
Legal Fees (amount varies depending on purchase price – approx $500 - $1500)
Title Insurance (sometimes included in your legal fees, $250-$400)
Property Survey (if required – $1,000-$2,000)
15% HST
Property Tax Adjustment (reimbursement to Seller of property taxes they paid beyond the closing date)
Municipal Deed Transfer Tax: 1.0% of total cost
YES, Canadian Banks and lenders typically require a 35% down payment.
35% downpayment (non gifted funds)
reference letter from your bank
employment letter with your income
three months bank statements
canadian credit check