Information for Canadian Buyers in Palm Springs

The real estate purchase process for Canadian buyers in the U.S., and here in the Palm Springs area is fairly straightforward.

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A Straightforward Purchase Process for Canadians

Investing in a second home here in the Palm Springs area is not complicated for a Canadian citizen. Our goal is to help you through the process. From discovering your property to negotiating the best price and terms possible, we will have your back and with our experience we will help you transition the process smoothly.

Canadian home buyers usually don’t need a U.S. Social Security number, just a valid passport. There are a few forms that we will help you complete.  An attorney is usually not needed in California since our Palm Springs area escrow, and title teams are trained and they have extensive experience in serving Canadian clients.

Historically Low Palm Springs Area Real Estate Prices

Properties in the Palm Springs area continue to offer great values compared to just a few years ago. And compared to most metro areas many Canadian buyers are pleasantly surprised by the values that are available here in the Coachella Valley.

 

Reasonable Palm Springs Area Property Taxes

In California the property taxes are 1.25% of the appraised value of the purchased property. The new appraised value of your property will be set at the new purchase price, even if the previous value of the property had been higher. And this property tax does not increase while you own your home.

Annual property tax payments here are split into two equal payments and paid semi-annually. If you are purchasing your property with a loan, you can request that your lender add the property taxes to your loan payment each month (called impounding), thereby making the tax payments for you.

No PST, GST or HST Tax AND A Variety of Ways for Canadians to Structure Ownership 

Canadian buyers have a choice of how they choose to title ownership to their Palm Springs area property. Cross-border trusts have become popular to help minimize taxes, especially for higher net worth buyers. Some buyers put their title in their personal names while others prefer to use existing corporations or LLP’s. For further assistance with these matters we will recommend specialists to help you navigate the process.

No Realtor Fees for Canadian Buyers

In most real estate transactions in the Palm Springs area, the home seller pays our Realtor service fee for resale or new construction homes, condos and land.

Mortgages for Canadian Buyers in Palm Springs

Mortgages are readily available here in the desert for Canadian homebuyers. When financing, a Canadian buyer will just usually need to establish a U.S. bank account before submitting an application.

The financed property must also be a second home or an investment property – not a primary residence. The Huston Group have several mortgage company referrals for Canadian buyer loan programs.

Additional Information for Canadian Buyers