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Canadian Sellers/FIRPTA

Canadians looking to escape their harsh winter weather conditions flock to Lake Havasu City, Arizona for its abundant sunshine and warm weather during the winter months. Some decide to rent while others decide to invest in 2nd homes or vacation rentals. Selling your home from afar requires trust and communication with everyone involved – that’s where I come in! My team of experts specialize in helping Canadians buy and sell real estate in Lake Havasu City, Arizona. My many years of experience with both the buying and selling process will help make the transaction as smooth as possible!

So you are aware, foreign investors are not taxed when purchasing property in the United States; however, they are taxed just like U.S. citizens when selling a property. The difference is U.S. citizens are taxed according to our laws of the Internal Revenue Code which our Social Security numbers and Business Tax I.D. #’s are associate with. Since foreign investors are not U.S. Citizens and do not have these taxing I.D. numbers, they are taxed according to the Foreign Investment in Real Property Tax Act (FIRPTA) – See below for the IRS FIRPTA-withholding when selling property in the U.S. 

FIRPTA Withholding

Guide to FIRPTA Withholding – Click Here
Guide to FIRPTA Withholding Exceptions – 
Click Here

Our Title and Escrow and Tax Advisors who specialize in FIRPTA are resources you would want to consult with prior to buying or selling so that you are aware of what will be required down the road and the process of selling your U.S. property, how to take Title when purchasing, and how to obtain your tax identification number when selling. Knowing the process in advance is more than helpful, so you are prepared when getting ready to sell your U.S. property. For more information on selling your U.S. property and FIRPTA, give me a call today!

Yearly Real Estate Property Taxes in Arizona

Guide to Understanding Arizona Property Values – Click Here

Real estate property tax in Arizona is paid twice per year. Property taxes are always paid in arears so the first half of the calendar year (January – June) is due and payable on October 1st of that same year and the second half (July-December) is actually due the following March 1st. Arizona property taxes are much lower than most states and probably even much lower than in Canada.

You can get additional property tax information from the Mohave County website below which will also show current property taxes on all parcels (keep in mind these taxes are per assessed value and once values change, taxes down the road change as well). 

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