Best Probate Attorneys in Calgary, AB

It’s never too early to think about selling your home but as a non-resident of Canada, there are additional considerations to keep in mind. A CRA Clearance Certificate or holdback is required for all non-resident sales. If you are a non-resident of Canada and are planning on selling your home, you should pursue a CRA Clearance Certificate well in advance of possession. If a Clearance Certificate cannot be provided before closing, a *holdback* is required. The Holdback amount is not based on sale proceeds, but rather it is based on the purchase price. This can potentially leave sellers in a shortfall position, resulting in the halt of the sale, or having to submit additional funds to be held in trust. For transactions involving non-residents of Canada, make sure you consult with your real estate lawyer and accountant early in the process to ensure efficient advice for a smooth closing and avoid unnecessary delays. We are here to help you or your client walk through the property sale process through these situations as needed.