Congratulations on finding our beautiful southwest Florida location. We have worked with many Canadian buyers in the past. The process resulted in the customers learning from us as we learned from them....as a result we have some beneficial information that would be best passed on via a conversation.
Please feel free to contact us at your convenience so that we might share what we have learned from our previous customers.
Then "Eckler Team"
Michael Saunders & Company
I don't know if you got the answer you were looking for, but this may help.
When buying the tax situation is the same for US or Canadians - transfer taxes, property taxes, etc. When you sell, there is a 10% withholding for the IRS and a 3.333% withholding for the Franchise Tax Board. There are ways to reduce or eliminate the withholding. You can file a form with the State of Florida to exempt the withholding. You can file a form with the IRS that must be approved to exempt or reduce the withholding.
The community you were referring to is called Coral Lakes. It is a gated subdivision located in Cape Coral and built by Engle Homes. A local businessman bought all of the homes at a liquidated price and then resold them. The resale prices began at $89,900 for a townhome and ranged upwards to $214,900 for a 3500 sq ft single family home. Virtually every home sold within 14 days.
There are still opportunities available as developers realize they cannot hold inventory forever. The value in the deal is based entirely on your criteria. If you are looking for income producing property then homes near the beach, on a golf course, or with some kind of waterfront generally produce the best results.
Should you still be interested, I would be delighted to help. I can assist in the search for your property, represent your interests in contract negotiations, ans assist in obtaining any needed financing. As I said, there are still tremendous opportunities. My contact info is below.
Neil G. Blair-Bennett
Alliance Realty Group
14090 Metropolis Avenue, Suite 206
Ft. Myers, FL 33912
Cell: (239) 645-3798