If you are from overseas and selling a property within the United States, you may be subject to a 15% withholding from the sale proceeds of the home. This withholding is called FIRPTA - Foreign Investment in Real Estate Property Tax Act. FIRPTA is a tax law that imposes U.S. income tax on foreign persons selling United States. real estate. Under FIRPTA, if you sell your United States. real estate as a foreign entity, a withholding tax of 15% might be required from the amount realized from the sale. The amount realized is normally the purchase price. There is a few ways we can recommend to help you and we do recommend using a tax attorney in the United States that handles foreign investors. We recommend speaking with one so you can prepare your finances to make your money work seamlessly from country to country and we can always recommend one if needed.
When a homeowner is preparing to list a home for sale and they reside outside of the United States, there are differences in the listing process they should be aware of. The same goes with the selling process once your property is officially under contract. We also use real estate attorneys who work with investors.
When a homeowner is preparing to list a home for sale and they reside outside of the United States, there are differences in the listing process they should be aware of. The same goes with the selling process once your property is officially under contract. We also use real estate attorneys who work with investors.
