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Steve Pin has started 1 posts and replied 4 times.

Gotcha, thank you for the highlight, Wayne!

Originally posted by @Wayne Brooks:

@Steve Pin Yes, as above, but be aware it is Your responsibility to make sure your title company follows the FIRPTA guidelines v

0 Votes

Thank you, Ronald! Appreciate it.

Originally posted by @Ronald Allen Barney:

The only downside I see is extra paperwork the IRS will require due to the foreign seller, and a portion of the seller's proceeds will have to be temporarily held in a special escrow. Your mortgage lender can give more specific details. If it's a cash deal see if the title company can help with the paperwork.

0 Votes

Scenario: An off-market property owned by an foreign investor who's willing to offload it and quick sell with a way-under-market-price (in CA)

Question: Would there be any tax related or any risks involved if the selling price is, let's say, 40% or even 50% under market average for the same type of property?

It's definitely a hard-to-find good deal, but I've never bought a property from a foreign seller before thus wanted to be extra cautious. Greatly appreciate it if anyone could provide some advice here. Thank you in advance!

Steve

0 Votes

Got my free entry, THANKS Bobby! See you there.

1 Vote