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Realtors Working with Foreign Buyers Need a Title Company – Here is WhyTitle Company

Realtors Working with Foreign Buyers Need a Title Company – Here is Why

09 Oct 2019

In the world of Florida Real Estate, a successful partnership between a realtor and a Title Company is crucial to ensure the transaction ends with a smooth closing process.

 

It is no secret that the State of Florida attracts a high number of foreign real estate buyers. However, the closing process can be a bit tricky when the buyer is a foreigner, which is why realtors should always work with a reliable Title Company.

 

Read on to learn the benefits of a strong working relationship between a realtor and a Title Company during a real estate transaction.

 

Florida and Foreign Real Estate Buyers

 

It should come as no surprise that Florida remains the #1 destination for foreign real estate buyers in the United States. Due to the state’s history and tourist attractions, many foreign investors seek properties to rent and buy every year – and the number keeps rising. This is why, as a realtor, working with foreign investors is something you will likely be doing often, and it is your job to find these foreigners their ideal properties. However, you need to be careful when managing these transactions and get all the help you can find to ensure the process goes smoothly. Luckily, helping realtors is one of our specialties here at Marina Title, the Best Title Company in Florida.

 

Taxes and Foreign Real Estate Buyers

 

When closing a real estate transaction for a foreign buyer, it is crucial to take into consideration The Foreign Investment in Real Property Tax Act (FIRPTA). The FIRPTA is an IRS regulation that imposes income taxes on foreign individuals on dispositions of real property interests in the United States. As a realtor, it is crucial to have experts by your side who can help you help your foreign clients with these tax matters. These experts can advise how to make sure you manage the transaction in compliance with all applicable rules and regulations.

 

The Closing Process and Foreign Real Estate Buyers

 

When you work with a Title Company, it is their responsibility to manage the real estate closing process to make sure the transfer of the property occurs without complications or delays. In a real estate transaction with a foreign buyer, a Title Company is the necessary intermediary that makes sure to protect the interests of the parties involved under the terms and conditions of a title insurance policy. Mistakes made during the closing phase could potentially result in violations or total loss of ownership rights. Whether you are a realtor, a seller, or a buyer, it is vital to hire a Title Company when entering a real estate transaction – and it is especially crucial if you are a realtor working with international buyers.

 

As a Florida realtor, you should know that the closing process for foreign real estate buyers is far more complex than it usually is for American buyers and requires certain skills and strategic experience. When working with an overseas real estate buyer, you must consider several laws and regulations with which you may not be familiar. This is another reason why you should work with a Title Company, like Marina Title, that has the knowledge and resources necessary to close on a property for a foreigner.

 

Are You a Realtor Looking for a Reliable Title Company? You Found It

 

What sets Marina Title apart from other title companies in Florida is that we are not just title experts. We are real estate lawyers who know and understand the law, which helps us ensure every transaction we manage complies with all applicable laws and regulations. We have successfully closed on many properties for international buyers and helped many realtors provide the best possible services for their clients – and we can certainly help you.

 

Call us today at (305) 901-5628 or send us an email to Romy@MarinaTitle.com to get started.

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