Comments - WITH FOREIGN BUYERS AND SELLERS - REALTORS NEED TO KNOW ABOUT FIRPTA - Short Sale Superstars2024-03-29T07:53:39Zhttp://shortsalesuperstars.com/profiles/comment/feed?attachedTo=3468065%3ABlogPost%3A317685&xn_auth=noGreat article Richard. When n…tag:shortsalesuperstars.com,2013-06-06:3468065:Comment:3177542013-06-06T10:50:09.688ZBryant Tutashttp://shortsalesuperstars.com/profile/bryanttutas
<p>Great article Richard. When needing to deal with FIRPTA on a short sale we always try to find.......</p>
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<p>If the property being sold is residential property and the sale price is under $300,000, and the Buyer will sign an affidavit that the Buyer and family will be the exclusive user of the property for half of EACH of the next two years, then the closing agent can rely on the affidavit and not collect the withholding 10% tax. A bit weird but many transactions fall into this…</p>
<p>Great article Richard. When needing to deal with FIRPTA on a short sale we always try to find.......</p>
<p></p>
<p>If the property being sold is residential property and the sale price is under $300,000, and the Buyer will sign an affidavit that the Buyer and family will be the exclusive user of the property for half of EACH of the next two years, then the closing agent can rely on the affidavit and not collect the withholding 10% tax. A bit weird but many transactions fall into this category.</p>