Selling your Florida beach home from Canada
Honest value, the IRS withholding handled early, and your net number in Canadian dollars. Whether you sell this season or hold, you will know exactly where you stand.
Team BeachSide (John and Nicole, licensed Florida Realtors with LoKation Real Estate) sells Florida beach homes for owners in Canada. In short: under FIRPTA, 15% of the sale price is usually withheld at closing. An IRS withholding certificate (Form 8288-B) can lower that, and the application should start when you list. You can sign everything remotely.
- Insurance and HOA costs. Premiums and association fees on the beaches have climbed sharply, and they are paid in U.S. dollars.
- Special assessments. Older buildings are funding reserve and structural requirements, and many owners are facing large one-time bills.
- The exchange rate. A weaker Canadian dollar makes every U.S. carrying cost more expensive, and every U.S. sale price worth more at home.
Sometimes the right move is to hold. We will tell you if it is.
The 15% withholding, without the surprise
When a Canadian sells U.S. property, 15% of the sale price is usually withheld at closing under a federal rule called FIRPTA, even if the actual tax owed is far less. It can be reduced with an IRS withholding certificate, but that application takes months.
We coordinate with a cross-border tax professional to start the application when we list, not at closing. We do not give tax advice; our partner does.
Sell without flying down
- Showings, repairs, and vendors handled locally
- Regular property checks while your home is vacant and listed
- Documents signed remotely, with a mobile notary or mail-away closing
- A written update every week, in your inbox
Your net sheet, in both currencies
Before you list, we give you a one-page estimate in U.S. and Canadian dollars showing:
- Sale price
- Commissions and closing costs
- Assessments and payoffs
- Amount withheld at closing
- Estimated cash at closing
- Expected refund and timing, from our tax partner
How a sale from Canada usually runs
- Review. We send a value range and a draft net sheet in U.S. and Canadian dollars. You decide whether to sell now or hold.
- Prepare. Local vendors handle cleaning, small repairs and photos. You sign the listing agreement electronically.
- Withholding certificate. Our cross-border tax partner can start the IRS withholding certificate application (Form 8288-B) at listing, so less may be held at closing.
- Market and negotiate. Weekly written updates, and offers reviewed with you by phone or video.
- Close remotely. Documents signed with a mobile notary or a mail-away closing package.
Häufige Fragen
Is 15% always withheld?
Not always. The standard FIRPTA rate is 15% of the sale price. A reduced rate can apply when the buyer will live in the home and the price is $1,000,000 or less, and there can be no withholding at $300,000 or less when the buyer will live there. Your tax professional and the closing agent confirm what applies. Sources: IRS, FIRPTA withholding and exceptions from FIRPTA withholding.
Do I need to come to Florida to sell?
No. Showings, vendors, inspections and closing can all be handled without you here.
My building has a special assessment. Can I still sell?
Yes. The net sheet shows the assessment and who pays it, and we explain it to buyers early so it does not end the deal after inspection. See our guide to condo inspections, reserves and SIRS.
Should I sell now or hold?
It depends on your carrying costs in U.S. dollars, any assessment and your plans. We show both cases on the net sheet.
Buying or selling from another country? Our guide for international buyers covers who can buy, taxes, FIRPTA withholding and closing from abroad.
Get your Canadian seller review
If your property is currently listed with another brokerage, please disregard this page. Team BeachSide, LoKation Real Estate. We are not tax advisors; consult a qualified cross-border tax professional.
