What you need to know

  1. Find a local realtor who specializes in the sale of Canadian recreational property.
  2. Find a Canadian lawyer who understands these transactions and has a US currency trust account.
  3. Provide two pieces of photo identification.
  4. Have a written agreement of purchase and sale.
  5. Ensure that you exclude from the sale any chattels/furniture you want to keep.
  6. Apply for a Canadian social insurance number online with Canada Revenue Agency.
  7. Post-closing, 25% of the gain in value must be held back until you file a Canadian tax return for a rebate of such tax.

Back to News & Insights