Mav Realty

Hi I am Adam Tarr, Associate Broker with Citywide Real Estate in wonderful Phoenix AZ.  Today I am going to talk a little more about buying property in Arizona as a foreign national, and specifically about buying here as a Canadian.  I get calls all the time from Canadian citizens interested in buying here.  The most common questions are about areas.  Whether they are looking for Scottsdale, Mesa, Queen Creek or any other location around the Phoenix metro area, many don’t ask the really important questions.  Those questions are about the buying process as a Canadian citizen.  To start with, buying from out of town is like any other transaction.  But There are many extra factors to consider including how the property will be used, taxes and forms. 

It is easy to jump on a plane to visit and find a realtor while you’re here.  But while that agent may know homes, does he or she know the details that are important that will make life easier for you in the future.  You should ask about experience.  Does that person know the forms that will be necessary for you to fill out, or do they have the resources to contact for information that is beyond their knowledge.  Most don’t and you may not know it until it is too late.

There is no simple answer regarding taxes because everyone’s financial situation is different.  It is always best to consult with a tax professional.  I will be happy to supply contact info for cross border specialists for anyone who needs it.

What your tax liability and reporting requirements will be depends on whether you are purchasing a property for personal use or for income. 

I don’t want this to be ten minutes long, so I’ll leave this with the key point that you need to know who you are working with and that they know the information that is important to you and your circumstances.  Next time I’ll talk some specifics regarding reporting requirements for property used for personal use.

Remember, seek out the right agent.  I am Adam Tarr PC.  I hold the Resort and Second Home Property Specialist Designation from the National Assoc. of Realtors and I want to be your holiday home specialist.

Have a great day and make it great for others as well.

Adam Tarr PC
Citywide Real Estate
Phoenix, AZ
480-236-7374
adam@weareazrealestate.com