If you are a Canadian citizen, know that Bennion Deville Homes has a long history of representing you. We are aware of the ins and outs for Canadians, and we know who to recommend escrow and title companies, accountants and lenders who specialize in working with Canadian Transactions. Here are just a few things to consider:
During COVID19 you will need to know if your Canadian Consulate is open for notarization and if not are you able to travel to the US to get notorized
Under normal circumstances, it is pretty easy for Canadians to buy property in our area
As long as you are looking for a vacation home, or second home (not a primary residence), it’s relatively simple for Canadians to purchase homes in our area.
You need a valid Canadian passport to purchase property here in California. You don’t need a U.S. Social Security number, but you do need a local bank account. You will fill out a few forms in the process, and we can recommend escrow companies and title companies that have long histories in representing Canadian buyers.
Ways to take title to the property
Canadians have options in how you take title to your home. Many Canadians purchase their second home in their own name, others choose to take title in the name of their Canadians companies (corporations, LLC’s, etc). Additionally, you can consider creating a “cross-border trust”. Many Canadians are choosing to utilize this vehicle as opposed to purchasing the home as a personal asset or in a Canadian corporation, due to the potential tax liability. But be sure to check with your accountant, who can advise you on which vehicle is best for you to purchase the property.
Buyers Don’t Pay Real Estate Commissions
For most homes sold in our area, the seller pays the real estate commissions for both sides of the transaction. So you can work with a real estate agent, and it will cost you nothing.
Mortgages are available for Canadian buyers
When you purchase a home in the Palm Springs area, you can be confident that mortgage programs for Canadian buyers are plentiful.