Buyer's Closing Package
a/k/a FIRPTA Remittance Filing Package

This is the first of the 3 phases of a typical FIRPTA transaction. The IRS under FIRPTA requires Buyer's to withhold 10 to 15% from the sale proceeds when Foreign Sellers (Non US residents or citizens) and remit to the IRS in a specified manner.

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FIRPTA Refunds relieves the potential liability of Buyer's, withholding agents, closing agents and realtors by acting as the paid preparer and if necessary, as the recipient for foreign nationals in the USA of IRS correspondence.

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We also issue written instructions and carry the ball in the closing process with all parties when we are involved. 

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If Buyer's and in many cases, their closing agents, are left to merely discharge the Buyer's responsibility, they often make errors that can add months to the refund and ITIN process as well as complicate foreign seller's documentation and paperwork confirmation in the process.

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FIRPTA Refunds services in this area are exceptional and quite reasonably priced. Getting it right the first time, dotting the I's and crossing the T's, knowing intimately how the process at IRS works behind the scenes, is literally the most important part of the FIRPTA transaction. Cost is roughly equivalent to an inspection or appraisal charge in the closing process.

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In re ITINs: With FIRPTA Refunds involved, foreign sellers DO NOT NEED ITINs to close! We can get the deal closed without ITINs, act as your recipient and intermediary and then file for ITINs later. If you have questions on this all important first step in the FIRPTA process, make inquiry and speak to our specialist.

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