Lake House Diaries 19

      The family contacted the realtor and expressed the concerns they had about the possible intentions of the potential buyers. After speaking with them, the buyer assured the family that they would use the Lake House as a residence for at least the nest two years. Whether this was good intentions or the fact that the IRS withholding tax went down from 15% to 10%, it was welcome news and the negotiations began. 

     As in all negotiations, there was give and take and eventually an agreement for sale was reached, with reservations and stipulations of course. There was a far reaching and expensive set of hoops to jump through for the family, especially after the official inspection report was submitted. Paul and Wes became invaluable as they navigated the various tasks that needed to be undertaken. They both worked tirelessly and efficiently, together with their wives, and when Kris and Helen joined them in the last few days before the occupation date, all the loose ends were tied up and it was time to say goodbye. 

     All the documents were signed, many electronically, or with a mobile notary, and finally the funds were turned over to the Escrow company for disbursement. At the time of this writing, there is still an outstanding issue to be resolved. As Canadian citizens, the withholding taxes that went to the IRS on behalf of the owners, can only be claimed back through the IRS. Tax numbers, IRS filings, and eventually Canadian tax issues have yet to be resolved. It was a learning experience for the family and an experience not soon forgotten. Advice to others might be to think long and hard before buying and selling US property as Canadian citizens. 

     And now that the Lake House is no longer in the family, the sibling owners and their children and grandchildren will have to reinvent what it is that holds the family together, if indeed there is something. Ethel is still living, although in a diminished state. Some are investing very large amounts of time and effort to make life comfortable for her. Others not so much. When she is gone, she may prove to be the last stitch remaining in the fabric of her family. It remains to be seen.