Video Transcript:
A hidden rule makes you responsible for the seller's tax when buying from foreigners. It’s a powerful system that forces the buyer to withhold funds, shifting all the risk directly to them. I'm David Ghazaryan, and I directly manage the lending side of these complex foreign sales. My job is ensuring the buyer is fully shielded from liability by controlling the transaction’s financial structure. The system's power is in its math. Fifteen percent is withheld from the entire sale price, not just the seller's profit. (Data may vary over time) This simple detail can trap huge amounts of cash. We convert this rule into an advantage. If the home is your residence and priced correctly, withholding can be zero. A proactive filing can also cut the amount, freeing up the seller’s locked cash. Here is the consequence for your loan. A lender sees incorrect withholding as a future claim against the house. This small mistake on paperwork can instantly kill your entire mortgage approval and stop the deal. Navigating these systems requires precision. I post similar breakdowns on my platforms, and the full article is linked. See the description for the tools you need to stay protected and informed.
Read Blog Here: https://www.iqratemortgages.com/blog/firpta-guide-for-foreign-buyers-in-florida
