10 PHILIPPINE ASIAN NEWS TODAY August 1 - 20 , 2018
The Notary Corner
By Editha Corrales Nelson Immigration Consultant , Notary Public , Mediation / Arbitrator
Electronic Travel Authorization
( eTA )
Visiting Canada ? Important information travellers may need to know
Canada ’ s entry rules have changed and travellers may need an Electronic Travel Authorization ( eTA ) to fly to or through Canada . What is an eTA ? An eTA is an authorization certain travellers need to enter Canada by air . These travellers can apply for an eTA at Canada . ca / eTA using their passport and a credit card . An eTA costs only $ 7 CAD and it takes just a few minutes to apply . Once approved , an eTA is electronically linked to a traveller ’ s passport and is valid for five years or until the passport expires , whichever comes first . An eTA is for shortterm stays for visitors , businesses or tourism . Why do people need an eTA ?
It allows us to check that travellers are admissible to enter Canada before they travel , which , in turn could facilitate their entry into Canada .
Who needs an eTA and when do they need it ?
Since March 15 , 2016 , citizens from countries that normally do not need a visa to enter Canada are expected to have an eTA to fly to or transit through Canada . Exceptions include U . S . citizens and travellers with valid visitor visas .
** Strictly taken from www . cic . gc . ca
A Canadian Certified Immigration Consultant , Certified Senior Advisor and a Notary Public in the City of Burnaby , Editha Corrales Nelson ’ s preferred areas of practice are
TRAVELLING TO CANADA
Powers of Attorney , Wills Preparation , International Legal Documents , Name Changes , Affidavits , Letters of Invitation , Statutory Declarations , Drafting of Business Contracts and other notarial services . For an appointment , please call : 604-777- 2757 .
The following should not be construed as providing legal advice and information in this column is intended only as a general guide and should not be applied to specific circumstances without further consultation . For more information on the subject , contact Editha Corrales Nelson at 604-777-2757 or email : corrales @ shaw . ca .
Common Mistakes of First Time Homebuyers
If you are a first time
MYLENE LIM Licensed Mortgage Specialist h o m e b u y e r looking to purchase your home , you will find yourself having to consider so many things before home ownership becomes a reality . Here ’ s a short guideline on improving your chances of successfully owning your dream home .
1 ) No Pre-approval – before you start house hunting , get your financing in place . There is nothing more disappointing than going through hours upon hours of research and house viewing only to find out that you don ’ t qualify for a mortgage . Work with a reliable mortgage professional who will review your situation and can guide you on what options are available for your particular needs .
2 ) Not setting a budget – in today ’ s market , it ’ s very easy to go beyond what you could realistically be financially comfortable with just to be able to get that home you have your heart set on . Getting caught up in the moment may mean years of sacrifice for you and your family . Sacrificing retirement savings or emergency funds in order to keep up with housing cost may put your investments , including your house on the line . You may have a home to call your own but if it means that you can ’ t even enjoy an occasional outing with the family , then you may have to re-think your housing cost budget .
3 ) No due diligence – before you make an offer on a property that you have set your heart on , you need to make sure you have review the solidity of the property you ’ re
purchasing . How is the physical structure of the property ? Are there repairs or renovations that need to be done ? If it ’ s in a strata complex , is there budget set aside for these costs ? How is the neighbourhood ? Do you know what your housing cost would be - monthly mortgage payment , strata fees , heating , property tax , etc .?
4 ) Not using a Real Estate Agent – you may think that you can just as easily find a home to purchase without the help of a real estate agent to help you . But there are many pitfalls of home purchase that an experienced realtor can help you avoid . Some of which are : purchase price , inspections , financing , management strata , appraisal , etc .
5 ) Fixating on the lowest interest rate – do not make interest rate the deciding factor in choosing a mortgage . Yes , a reasonable rate is ideal but this should not be your main concern . Review the restrictions , conditions and penalties that go with the mortgage with a fine-toothcomb as this is where you may inadvertently get blind-sided . Statistics show that six out of ten mortgage contracts get terminated before maturity . And although you may be confident that you ’ re in the minority , it would be to your advantage to review that possibility , just in case .
6 ) A fixer-upper property – this may look very enticing with a
big potential for return on investment but make sure be extra diligent when you have the property inspected . What would it realistically cost you to get the property how you want it to be ? Depending on the size of your repair and renovation , you may want to get contractors on board before you remove your subjects .
7 ) Neighbourhood – you may have found your dream home but the neighbourhood may not be somewhere you can be comfortable with . Spend time to observe the area before you make an offer . Annoying neighbours or nearby train track that rumbles through at 4am can literally be a rude awakening for you . You also need to assess your dependency on access to public transportation , medical support , basic necessities such as grocery stores , and commute time
WWW . PHILIPPINEASIANNEWSTODAY . COM school and or work .
8 ) Not getting enough insurance coverage – this is something a lot of people do not put importance on but should actually be on top of the list . Can you imagine having the home you have been conscientiously paying and maintaining to be foreclosed by the lender for non-payment of mortgage dues ? You should be pro-actively securing your biggest investment by ensuring that you or your beneficiary can maintain ownership of the property in the unfortunate situation where you are unable to continue with the mortgage .
Homeownership is the biggest investment and consequently the biggest liability you may have . Work with a licensed mortgage professional whose industry expertise can benefit you in determining the best options available for your particular need .