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Updated over 8 years ago on . Most recent reply presented by

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119
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101
Votes
Paul G.
  • Gilbert, AZ
101
Votes |
119
Posts

Property may be subject to FIRPTA ... deal killer?

Paul G.
  • Gilbert, AZ
Posted
I'm looking at a small condo to buy as an investment, and I noticed in the seller notes that the property may be subject to firpta... is this a deal killer? I've never heard of firpta until now and in doing my research, it looks like it's a bunch of risk on the buyer side? Can someone please eli5 about firpta and whether I should back away slowly from property. Everything else looks good and the cash flow is definitely decent... assuming this won't cause a whole host of legal/tax problems. What should I look for and what questions should I be asking?

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