Monday, 21 March 2016

Tips to Selling Your Home Sweat-Free With Some Cross Border Tax Services

The idea of selling your house alone can give you hassles with the paper works and conditions, especially if you will sell a house where you are considered an ‘alien resident’. If you are a Canadian citizen and will be selling your property situated in the US, you might need some assistance with an accountant for some cross border tax services to help you get through with all the dealings you will encounter upon selling your house.

If your property is in the US, then this means that you are entitled to a non-resident withholding tax of 10% of the gross sales price. So you might want to consider asking a good accountant for the best options in selling your house.

First off, you will need strategies on how you can be able to sell with a time period you have decided. You may want to consider your marketing strategy to attract a lot of potential buyers that will be interested in your home. A lot of home sellers will allot their selling period in 3 months or less. Others tend to sell their house in a shorter period due to relocation or job opportunity reasons. However, the reason it will be super beneficial for you to come up with selling strategies beforehand to keep your bids going.

One of the good things in getting an accountant is that they can handle your cross border tax services. Meaning they can help you handle your papers to file a US tax return. Also consider that even if you can have a helping hand from your accountant, you must still consider your property of how much the purchase price really is and consider asking what they will plan after purchasing the house. If it will be under $300,000 and your buyer will use the property as a personal residence, then your withholding requirement will be eliminated.

Going to your marketing strategies; what you will need to produce are flyers. It must have a photo of your front home and adequate information that can attract buyers. You might think that flyers are inefficient tools of marketing because it is highly overlooked, but it actually comes in handy. It’s important to include in the flyer the details of your house such as the number of bedrooms and bathrooms, how big the house is in square feet, garage information and other things that you can consider to appeal buyers. You can pass their flyers out during an open house and to your neighborhood so prospect buyers can have something to refer to and if your neighbors can refer friends or family that might be interested.

Another thing to think about is your online marketing strategy. You have to make sure that you will be able to post the photos of your house inside and outside to be able to let your online viewers have a virtual tour of your home. Having a video as documentation is a plus to your online marketing strategy. Upload these on your social media accounts or post them as one of your blog posts, if you have one and inform them that your house is for sale. It is important that you won’t put personal information such as your complete address or contact information. Just posting your email as the contact information is enough to be able to have a conversation with your potential buyers. A lot of people purchase almost everything and anything these days on the internet so it will be of great benefit for you if you will post an ad on the internet.

You also have to contact a realtor to put up your home on the Multiple Service Listing (MLS). MLS is an online database for homes that are on sale. Hiring an agent can bring you fully interested buyers and can be capable to buy your home. Your buyers can come anywhere but a buyer suggested by an agent is more unfailing.

Finally, make sure not to skip processing your papers for taxes. US and Canadian taxes may be unique, but problematic, so phone up an accountant that can give you cross border tax services such as tips and advises on what you need to know and what papers you need to process when you find a buyer that will purchase your house in the US.


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