If you are a foreign seller the US government can hold up to 15% of the sale proceeds to cover any unpaid taxes under the FIRPTA tax code.
To avoid this you should supply the title company with your paid tax records. These will come directly from your accountant. If you do not have them let us know so we can recommend someone who can get this resolved for you. You want to have this taken care of before you sell. This does not apply to US citizens selling.
If your property is currently with a property management company we will require the name of the company and the contact details.
In many cases the new buyer may want to retain the services of the PM company and they will require information on current bookings.
If you have been booking the property yourself we will need to disclose those bookings that are already in the calendar.
Any monies from these booking that has been collected has to be turned over to the buyer at closing should the new owner decide to keep them.
If the new owner does not you will have the responsibility to either move the bookings or contact the clients to let them know their booking is being cancelled. You may want to add a provision to your booking contract regarding the property being sold during the time you are listing the home.
Please provide any documents that you have that should be passed over to the new buyer including any warranties, HOA docs, repair receipts, booking contracts and a floor plan if you have one.
Please supply or have the property management supply the vendors for the property like the cable, power, telephone, pool guy, lawn guy and anyone else that has been servicing the home.
If you have the HOA contact information and a copy of the HOA docs please supply.
If you have a mortgage on the property please supply details of the lender so the title company can contact them for a payoff.
If the property has a booking calendar it is extremely helpful to get access so we can find out when it is available to show.
Please let us know soonest if you have any personal effects in the property you want to keep, also if you have an owners lock away we will need access.
Foreign exchange can cost you a lot of money transferring into other currencies. If you do not have a FX relationship please let us know – we can save you thousands through our currency exchange associates.
Make sure you contact each utility company and cancel all accounts, Cable, Electric, Water, Telephone, Pool, Lawn and any vendor or service you have been using otherwise you may be billed.
If you are ready to move forward with the sale of your property you can contact us directly or use this page to send us additional details.
We look forward to assisting you with the sale of your vacation home property.