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Parkland and South Florida real estate expert Michael Citron discusses in the above video the importance of knowing how the process of filing the appropriate government paperwork for foreign nationals that are selling real estate properties here in Florida and the rest of the United States. As of late, we have represented some homeowners, where the owners were foreign nationals. On every listing agreement, there is clause for FIRPTA (Foreign Investment In Real Property Act).
The FIRPTA (Foreign Investment In Real Property Tax Act Of 1980) requires that 10% of the proceeds of the home sale be held for an individual foreign national and up to 35% for a foreign corporation from the proceeds. It is essential that foreign nationals selling homes contact a tax accountant who specializes in foreign national taxes as well as a Florida real estate attorney. Since our team has worked with many foreign national real estate home sellers, we can refer you to a few exceptional accountants and title attorneys that can answer all of your questions and concerns.
f you read my Parkland Parrot Real Estate Website, you know that the Parkland real estate market is changing on a regular basis. Values here can vary dramatically from neighborhood to neighborhood. Whether you are buying or selling, it is more important than ever to work with a local Realtor who has experience and knowledge of the market and is a full-time real estate consultant. I am honored to be the #14 top producing RE/MAX real estate agent in the entire State of Florida for 2013 along with being one of the top Realtors in Parkland, Florida. I can be reached anytime on my cell at 954-609-0591 or you can fill out a contact form here and I will gladly give you a call back to discuss your real estate.