Wholesaling in Canada (CleverInvestor Strategy)

[Dallas Jacob]

Hi, I am new to real estate wholesaling in Canada. 
I am just curious, is it Illegal to do wholesale real estate in Canada being unlicensed? 
What I mean is, 
Find a seller, make an offer -> put a little bit of cash down as a deposit -> then have a buyer wanting to buy the house. Without having to actually own the property, just basically transferring to the buyer but still getting a little profit? 

Clever Investor Cody Sperber does this is the US, I was just wondering if it is legal in Canada, maybe there are different regulations. 
Just having a Buy and Sell contract in play. 
Thank you! Hopefully somebody can answer my question! :) 

[Roy N.]

@Dallas Jacob

If you search the Canadians forums here on BP, you will find this question is asked every few months and has been answered many times.

While wholesaling can be done legally, you need to do things in a way whereby you do not find yourself acting as an unlicensed agent.

Legalities aside, in most parts of Canada, wholesaling alone would not produce sufficiently to be the sole basis of your business.   A few some differences with the U.S.A. which make things a little more of a challenge in Canada:

• Market sizes - Canada as a country has about the same population as the state of California, spread over a geographical area larger than the U.S.A..   The smaller markets mean less inventory
• Lower mortgage delinquencies - Mortgage arrears in Canada are historically <1% and defaults far less again (<0.5%) which also makes for fewer motivated vendors;
• People are conditioned to turn to a real estate agent to sell their property.  Though things are changing, Canadians have been less inclined to sell their properties on their own or though channels other than an agent.

There are folks here who have been successful in wholesaling (@William Johnson) and some who use it opportunistically within an arsenal of other practices (@Luc Boiron).  These folks could probably provide more insight.