Buying real estate from a foreign investor? Know what ‘FIRPTA’ means

In 2022, the National Association of Realtors (NAR) reported that 24% of international investments in real estate took place in Florida. With its beautiful beaches and endless summer weather, that number probably does not come as a surprise.As the number of foreign investors continues to rise, it raises the question of what happens when these investors decide to sell. As if purchasing property wasn’t complicated and stressful enough, buying from a foreign seller could throw additional complication into the mix with FIRPTA withholding taxes.

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