Plan Right for the International Buyer

12737094-money-and-calculatorDo you have a non‐USA citizen buyer? No worries, there are just a few things you need to keep in mind.

1. No reason to be concerned with FIRPTA (Foreign Investment in Real Property Tax Act of 1980), that only applies with a foreign seller.

2. Identification. A US Government Issued ID or their passport is all they need.

3. Money. It has to be United States Dollars. If they are bringing a certified check, it needs to be from a USA banking institution.

If you are unsure, ask us if the bank your buyer is using qualifies. If your buyer is planning to wire funds from a foreign bank overseas, make sure you ask us for our “International Wiring Instructions.” Unlike wire transfers coming from inside the USA, international wires can take from 3 to 7 working days before they are available for closing. The best plan is to have them use a US bank and have their funds transferred early on so it is ready at closing day.

Leave a comment