Plan the purchase and the eventual sale with both countries in mind.
Build a cross-border team
Before choosing an ownership structure, speak with advisors who understand both Canadian and U.S. rules. Bring them your intended use, ownership goals and eventual sale plans. A structure that sounds simple in one country may create complexity in the other.
Buying checklist
- Discuss personal use versus rental use with your advisors.
- Compare lender documentation requirements and financing options.
- Plan currency transfers and verify wire instructions independently.
- Discuss insurance, property management and ongoing expenses.
- Ask which reporting obligations apply in each country.
Selling and FIRPTA
FIRPTA can require withholding when a foreign person disposes of U.S. real property. The IRS describes a general 15% withholding rate, with exceptions and other rules. Have your closing team and tax advisor determine the treatment of your transaction; withholding is not the same as your final tax liability. Read the IRS FIRPTA guidance
A local point of contact
I can help coordinate the property search, transaction timeline and local service providers while your qualified advisors handle the legal and tax analysis.
General information only. Verify property details and third-party information independently.