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Buyer Related Issues

 

What documents will I need to provide to the seller?

 

 

What are the tax consequences of buying real and personal property?

 

 

If the seller is Canadian, how does that affect the buyer?

FIRPTA requires foreign sellers to report their capital gains and other income on real property with the IRS. The requirement is a burden placed on the buyer to withhold 10 percent of the purchase price, to be transferred to the IRS and then refunded to the seller if the 10 percent is in excess of the actual tax owed.  Read More...

 


If I’m buying in a name other than an individual (trust, corporation, LLC, etc.), what do I need to know?