Closing agents soon will need to withhold more from foreign sellers than pre-printed contracts indicate for real estate worth more than $300,000.
January 13, 2016 at 03:00 PM
1 minute read
Title companies, real estate attorneys and other closing agents will soon withhold more for taxes when foreign nationals sell some properties for more than $300,000.
“This will greatly impact South Florida given the high level of real estate purchased and sold by foreign persons or companies,” said Michael A. Silva, a tax partner at DLA Piper in Miami.
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