Do you have a non-USA citizen buyer? No worries, there are just a couple of things you need to keep in mind to make sure the transaction goes as smooth as any other transaction.
Some people think that there are “FIRPTA” issues (Foreign Investment in Real Property Tax Act of 1980) if their buyer is a foreign national, but there isn’t. FIRPTA only comes directly in to play if the seller is a foreign national, but that is another Title Tip for another day.
There are two items that are a must for your international buyer to have a successful closing. The first is the easiest, identification.
If they don’t have an ID issued by the USA, that is OK. The passport they are issued by their nation is all they usually need for identification at the closing table. If it is good enough for Uncle Sam, it is good enough for everyone else. If anything else is needed, such as when the seller is a foreign national as well, we will let you know.
The second part is a bit trickier, the purchase money. We’ll cover that next week in Part II.
My Agent Greg 