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Denise Brown is one of The Top Selling Real Estate Experts™
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Why Sellers Choose Me: Whistler British Columbia home buying, real estate listings, and homes for sale in British Colombia

Welcome > For Sellers > Non-resident Sellers ...

There Are Certain Legal And Tax Issues When A Non-Resident Of Canada Sells Property In Canada.

The majority of tax-related issues relating to non-residents arise when a non-resident is selling a property.

Prior to receiving the proceeds of a real estate sale in Canada, it is necessary for non-residents selling property to obtain a Clearance Certificate from Canada Customs and Revenue Agency. The current wait for a Certificate is approximately 6-8 weeks.

Canada Customs & Revenue Agency will collect any tax payable on the property before issuing a Clearance Certificate. This also includes any tax payable on the rental income from the property that has not been remitted; capital gains tax; and, if applicable, recapture of a capital cost allowance.

Sellers should contact their accountant or lawyer concerning a Clearance Certificate as soon as an accepted offer has been received on your property. Should the completion date be prior to the issuance of the Clearance Certificate, the purchaser's solicitor will require a holdback of between 25 and 50 per cent of the sale price until the Clearance Certificate is issued.

The forgoing information is intended as a summary only – ensure you contact your Canadian lawyer or accountant to discuss these issues in greater detail.

Working With An Agent >A Real Estate Agents Reality

The process of guiding a home sales transaction is in reality more complex than many people realize. When qualified buyers present an offer on your home, it might seem that the deal is done, but this is only the beginning of the negotiations process. Ideally, this aspect of the transaction culminates in a meeting of the minds. At no point can the real estate agent just sit back and relax, because the "glue" that holds each transaction together is subject to a variety of factors and forces that may cause the deal to fall apart.

We can only hope that there are no surprises during the home inspections. We have to presume that the appraiser will think the house is worth as much as the buyer and seller do, but this is never guaranteed. As the buyers make their loan application, we cross our fingers that the credit report reveals they always pay their bills on time.

Rarely is a transaction completed without a few problems. A real estate agent's professional skills come into play primarily during the time between contract ratification and the closing. At this point, we use our creativity, patience and negotiating skills to achieve a happy resolution to your transaction.

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Denise Brown, REALTOR®, real estate agent and broker for Whistler British Columbia home listings, property and land for sale - NUMBER1EXPERT(tm)

Denise Brown
RE/MAX Sea to Sky Real Estate Whistler
135 – 4370 Lorimer Road
Whistler, BC. V0N 1B4
Canada
Cell: 604-935-2013
Direct: 604-905-6362
Toll Free: 1-888-689-0070
Fax: 604-932-4120
Email: denisebrown@NUMBER1EXPERT.com
Email: denise@myseatosky.com
Denise's Guarantee: - Royal service by responding to your questions in less than 24 hours - Full and complete information - To be ‘Today’s Realtor” by utilizing innovative technology - To be continually updated on her knowledge, education, technology products and services. Why? Because Denise wishes to earn your loyalty and be your Realtor of choice in the Whistler area. To do this she realizes that she has to earn your trust and respect by providing truly professional real estate service. She believes that service, integrity, knowledge, efficiency and trust are crucial elements of professional real estate services. She believe that good reputations, trust and respect cannot simply be expected from others. Each must be earned. She is looking forward to earning yours! She take your interests to heart! If Denise does not exceed your expectations, she will happily refer you to one of her colleagues!

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