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Working with Foreign Real Estate BuyersWorking with Foreign Real Estate Buyers

Working with Foreign Real Estate Buyers – What Do Realtors Need to Know?

15 Jun 2020

Hiring a Florida title company can be vital for realtors working with foreign real estate buyers, as the process of helping buyers from other countries close on Florida properties can sometimes get incredibly tricky. In this article, you will learn what you need to know about working with foreign real estate buyers and why it realtors should never try to close on any property without a reputable title company managing the transaction.

Working with a Title Company – Helping Foreigners Close

 

It should not be surprising that Florida is the #1 destination for foreign real estate buyers and renters, which means the number of foreigners looking for properties to buy and rent rises every year. As a Florida realtor, you will likely find yourself working with foreign real estate buyers very often, and, therefore, you need to be able to find these clients their ideal homes. However, you must be extremely careful with these transactions, and you should get all the help you can find.

 

When foreign buyers are involved in a real estate transaction, the closing process is a little different, and you need to understand this difference in order to help your foreign clients close on their new Florida homes, which can be hard. However, there is an easier route – working with a title company that can manage the entire closing process from start to finish and ensure the property transfer from the seller to the buyer occurs without any delays or stressful complications. In a real estate transaction where there is a foreign party, a title company can be essential, as it can protect the interests of all the parties involved via a title insurance policy. As a Florida realtor working with foreign real estate buyers, you will have to take into account many different laws and regulations with which most real estate professionals are not familiar. Mistakes made at the closing stage of a real estate transaction can have severe consequences, such as code violations or even total loss of ownership rights. Working with a title company at closing is critical.

 

Luckily, helping realtors working with foreign real estate buyers is something good title companies do often, and finding a good Florida title company is not difficult – you already did it. Marina Title, Florida’s premier title company, can help you help your foreign clients. We are always a single phone call or email away.

Working with a Title Company – Helping Foreigners Understand Taxes

 

When helping a foreign real estate buyer close on a property, taking The Foreign Investment in Real Property Tax Act (FIRPTA) into consideration is essential. This IRS regulation imposes income taxes on foreigners on dispositions of real estate interests within the United States. As a Florida realtor, it is crucial to have FIRPTA experts on your team to help your foreign clients understand these and other relevant taxes. These experts can teach you how to make sure you manage all transactions involving foreign buyers in compliance with all applicable laws.

Are You a Realtor Working with Foreign Real Estate Buyers? Marina Title Can Help You

 

At Marina Title, we welcome international real estate buyers warmly. As a multicultural firm, we understand how valuable the contributions of foreigners moving into the country can be, not only to the country’s economy but also to its culture. We are committed to helping Florida realtors help their foreign clients purchase their perfect homes as easily as possible. For more information on how we can make the closing process easier for your foreign real estate buyers, call our title company today at (305) 901-5628 or email us at Romy@MarinaTitle.com. Whether you are a realtor, a buyer, or a seller, we can help you complete your Florida real estate transaction.

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