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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.

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Working With An Agent >Skillful Negotiations

Negotiating the sale or purchase of a home is a highly creative endeavor that can be stressful at times. Even though the process is not usually an adversarial one, there are issues which may require a compromise from each party, such as the price, the date of possession, and the condition of the property at closing.

It helps to know why people are relocating. If a home is part of an estate, for example, it may evoke childhood memories and intense emotions for the person who is overseeing the sale. If the sellers are in the middle of a divorce, their mood will be different than someone who has just won the lottery and is moving to their dream home. Buyers who have been transferred and have to leave their dream home behind will feel differently from someone who feels that your home is their "ideal". One of a real estate agent's most important jobs is managing all of the relationships in the transaction. These situations don't often get really difficult, but when they do, agent's don't take it personally.

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Q	What is the legal term used to describe the right of the U. S. government to condemn private land for public use?
A	Right of Eminent Domain allows the government to confiscate private land by paying full market value for the property.
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Denise Brown, REALTOR®, real estate agent and broker for Whistler, British Columbia home listings, property and land for sale - NUMBER1EXPERT

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: 1-888-935-2013
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. Denise prides herself on exceeding the expectations of her clients on these elements and has an exemplary reputation earned over the years from doing so. Denise really does take your interests to heart. If she does not exceed your expectations, she will happily refer you to one of her colleagues!

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