>

Second the question of how they cost you anything at all. Let alone 20k. They stole money from your account? You should go after them if they did that.
"As of 1 January, the ban prohibits people who are not Canadian citizens or permanent residents from buying residential properties, and imposes a C$10,000 fine on those who breach it."
I wonder if it's a one-time fee cause that's not as bad as it sounds? >

What about foreign citizens just forming a Canadian corporation that buys/sells real estate? Seems like an easy work around. >

It’s actually easier than that. Canadian real estate agents have people in Canada that will sign on as the “buyer” for these foreign investors. >

Source? That's the first I've heard of this and it sounds like blatant fraud to me >

I see it all the time in California:


I got scammed on a real estate deal by two young Chinese people who made peanuts (on paper) but were somehow buying millions in real estate. I didn't figure out the scam until they'd cost me about $20,000.


I once lived in a rental in California that was owned by someone living in Taiwan who'd never even seen the place. They were collecting real estate the way that some people collect baseball cards.


One time I was looking at open houses in CA, and kept seeing the same little old Chinese lady in a minivan making cash offers at half the houses we looked at that day. It's like she was making offers on everything. Obvious Straw Buyer.