CANADADIANS BUYING UP FLORIDA
WHATS GOING ON???
The sunshine state has a lot to offer Canadians with over 2 million visitors each year!
We seem to be flooded with savvy Canadian buyers this year along the Gulf Coast of Florida.
Canadians are amazed at what their dollar can now buy them and the value of their dollar makes the purchase a double win!!
However, even with this incredible opportunity for the Canadian buyer "Caveat Emptor" still stands true.
There are many implications for the Canadian Buyer in Florida, here are just a few things you may not have thought about...
Cash or Mortgage?
Canadians and Germans were most likely to pay cash for their U.S. purchases. In fact, buyers from Canada were more than twice as likely to purchase a U.S. home with cash as via any other method.
Royal Bank of Canada now has many branches here in Florida - contact us for details of your RBC lender.
While Florida real estate is still considered a "safe haven" for foreign funds, there are some perceived impediments to foreign purchases including cost of property, immigration laws, and property taxes. We have the resources for you. Ensure you work with the professionals in every area.
WHAT IS A CROSS BORDER TRUST? - Is this right for your situation?
CROSS BORDER TRUST - Just some Advantages are as follows:
1. Your Florida property will be exempt from Florida probate (Probate is when the owner of Florida real estate dies)
Probate is expensive, time consuming and freezes the estate for months and months.
A Canadian Will does not avoid Florida probate.
2. Assets inherited through the CBT are safe from divorcing spouses.
3. Creditors cannot seize the beneficiary's interest in the FL property or proceeds if it is sold
4. No annual filing requirements to the IRS or Canadian tax authorities
5. Get the lowest capital gain tax rate
6. How to Minimize US estate tax
RBC (Royal Bank of Canada) has approved CBT for mortgages (RBC will not lend on real estate in corporations, Ltd partnership or Canadian irrevocable family trusts).
Contact us for details.
Email: firstname.lastname@example.org Call Broker John 800-214-4945 Toll Free
Would you like more information on International Buyers in Florida?
For a copy of this free report email us today.
Profile of International Buyer 2008 (National Association of Realtors)
Broker, MBA, CIPS, SRES, ABR, E-Pro, Registered Representative