FIRPTA Rules for Foreign National Buyers and Sellers

 

Hello! It’s Nancy Cross, your realtor with RE/MAX Capital Realty. From time to time, I work with Foreign Nationals who want to buy or sell property in the US. A Foreign National is simply someone who does not hold US Citizenship or have a green card. People around the world buy property in the US for a vacation home, holiday home if you’re from the UK, or simply to invest. I want to explain the highlights of FIRPTA. FIRPTA stands for Foreign Investment in Real Property Tax Act. When a foreign national buys or sells property here in the US, they are subject to FIRPTA. What does that mean? Watch this video for more details …