Tax InformationWe know all the in's and out's of the tax implications for Canadian's purchasing real estate in Arizona. Learn more, and download important documents on our Tax Info page.
Featured BuyThe Allison Condominiums,
One-Bedroom, FULLY FURNISHED, turn-key residence, just $104,900!!
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Golf CoursesInteractive map showing a vast number of our Phoenix Metro Golf Courses. Over 100 golf courses listed on this site.
ShoppingThe Phoenix / Scottsdale area is a mecca for shoppers. A few links of interest are below:
EntertainmentFrom Sports, to The Arts, to Culinary Events and more, The Valley of The Sun offers an abundance of wonderful entertainment options.
Education
FAQ's for Canadians purchasing residential property in Arizona
Q: What is the process
for Canadians buying in Arizona?
A: The same process for local
residents purchasing applies to Canadian residents, except that you will be
asked to provide a copy of your passport or visa. All transactions are
professionally handled by a title and escrow company.
Q: May I lease out my
residence when not in use?
A: Yes. Typically, if you own a
fully furnished residence, it is likely that you will be able to lease it out on
a monthly basis, or as allowed by the CCR’s of the community in which the
residence is located. The peak rental season is usually from November through
April.
Q: Do The Condo Pros
provide property management services?
A: No, but we have a referral
arrangement with a local property manager that can assist you with all aspects
of managing your rental.
Q: What amount of rent
may I expect?
A: Generally, a good estimate is to
expect from $2-3 per sq. ft. rent, based on a nicely furnished rental, in
season. This means that a 1200 sq. ft., 2 bedroom condominium is likely to rent
for $2400 – 3600 per month from November to April. The owner is expected to
maintain utilities, local phone and cable and cleaning services, which can be
arranged through the property management company. Rates vary based on location,
quality of the furnishings and other factors.
Q: What is the best
way to decide where to buy?
A: We suggest that you first
consider what activities interest you, such as golfing, fine dining, shopping,
hiking, tennis, arts or other entertainment venues. Then, concentrate your
search near where those activities are located. For example, if golf is of the
first priority, then North Scottsdale, Chandler or Mesa may be your first
choice. If art venues are your preference, then Old Town Scottsdale or Central
Phoenix may be preferred. Our sales associates can assist you in locating the
right residence for your tastes and price range.
Q: Are HOA budgets and
reserves readily available for my review?
A: Yes. In all communities
represented by The Condo Pros, the reserve - needs analysis, the HOA budget and
complete financial statements are always made available to prospective
purchasers.
Q: Is financing for
Canadians readily available?
A: Yes. We have researched the very
best loan programs, and have found the best rates and terms. Typically, down
payment requirements are 20-30%, and fixed rates are approximately 6.5%. No US
credit report or tax payer ID is required. Ask for a referral to one of our
lenders.
Q: What are the tax
implications for owning in the US?
A: Tax issues can only be answered
by your accountant or CPA. Please consult them prior to making a residential
purchase. This link, provided by Cam McIntosh, a Calgary-based accountant and
tax advisor, may also be helpful: http://www.expatriate.com
Q: Can my unit go into
a “rental pool”?
A: We do not run rental pools (the
common sharing of rents on all participating rental owners); this is more common
in mega-developments in resort areas that can command year-round rents. We
suggest that a professional property manager can assist you with leasing your
specific residence when it is available, and this will increase your financial
return versus a rental pool.
Q: Can you assist us
in locating a residence other than those communities represented by The Condo
Pros?
A: Yes. Our professional sales
staff can find a residence in any community, price or features that you desire.
Q: Are any residences
available fully furnished?
A: We have made arrangements with
our interior decorator to handle the furnishings and accessories upon request.
The fee depends on the size of the home and the furnishings style, but the cost
usually run from $10-25,000 (USD).
Q: Who will check on
my home when we’re not there?
A: We offer a unique
CareTaker service through The Condo Pros.
If your residence is vacant, one of our staff members will check it twice a
month. We’ll make sure the doors are locked, repairs are noted and coordinated,
and all the trash is discarded. This service is free for the first year, and
then costs $50 per month thereafter. View our
CARETAKER
BROCHURE (PDF)
Call us today for more information.
1-866-252-2741
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