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(A) Foreign Buyers and Sellers – The Things You Don’t Know Will Hurt You
November 8 @ 10:00 am - 12:00 pm$15.00
Instructor: $Russell S. Jacobs, Atty
One of the main components of this class that has been newly added is the current laws concerning foreign principals in Florida and walking the agents through who is a foreign principal and the dangers of dealing with that issue and what they can do to be aware of those issues. In addition, the presentation will discuss the following:
– Rule #1 They are not allowed to die. Estate Tax can wipe out your entire investment, discover out to how to avoid it.
– Rule #2 They should be scared of monsters under the bed. One slip and fall and they’ll lose it all – how to separate properties and protect them.
– Rule #3 Never Let Your Accountant Remove Your Appendix, Pack Your Parachute, or Form a Company. It is not good enough to just create a company, there is real work to be done behind the scenes.
– Rule #4 Keep the IRS away from your closing table. How to structure the purchase to avoid 10% FIRPTA withholding.
AND MOST IMPORTANT OF ALL . . .
– Rule #5 Avoid a 35% personal penalty to you as the realtor of a foreign buyer’s property when you manage it.