Is there any advantage advantage in seeking a Canadian buyer

[Tinks#2Fan]

We're in

 

[Tinks#2Fan]

Sorry, we're in the unfortunate position of needing to sell our DVC contract and have looked at the sponsor site as a trusted option but wondered if a Canadian transaction may simplify tax implications? Or does it have no bearing on the outcome. My goal is not to avoid tax but just to simplify process. And I realize lawyers are a necessary part of the process.

 

[JETSDAD]

I don't think it will make a difference. Either way FIRPTA tax will be withheld because you're selling real estate in the US.

 

[bankr63]

I can't comment on taxes as that takes professional knowledge of both tax systems, but you can save a ton in forex fees on such a large transaction by keeping it all in C$. The transfer fees for the deed would still be in US$, but the main part of the purchase would not need to be converted.

 

[Madame]

No. It’ll be more complicated as both buyer AND seller (if the seller wishes to eventually recoup $ from the IRS) will need an ITIN. I backed away from buying from an international owner (as a Canadian myself) because I didn’t want to have to get an ITIN.