Home Ownership in Naples>Question Details

Cercle, Home Buyer in Naples, FL

Legal issues for international clients (Europe) when purchasing residential real estate in Florida

Asked by Cercle, Naples, FL Sun Jun 10, 2012

Buy private or set up a legal entity

Help the community by answering this question:

Answers

10
Voices Member’s answer
What type of legal issues are you asking about? There are plenty of lenders and lawyers that can give legal advice, which I do not. Will give more concrete answers with a more concrete question. KathyBC 800-448-3411 ext 601 (6/11)
0 votes Thank Flag Link Mon Jun 11, 2012
CERCLE,
WHAT TYPE OF LEGAL ISSUES ARE YOU REFERING TO I WORK WITH A LOT OF INTERNATIONAL CLIENTS. IF YOU HAVE SPECIFIC QUESTIONS PLEASE FORWARD TO EMAIL ADDRESS BELOW.
ALL THE BEST,
LEANN ANDERSON
LEANNnAPLES@AOL.COM
http://WWW.NAPLESBEACHANDHOMES.COM
0 votes Thank Flag Link Mon Jun 11, 2012
Dear Cercle,

You can read some info that I have posed in german on my site @ http://SeekSWFlorida.com/de ....if there is some more info you need or would like the info in a different language, please let me know.
Looking forward talking to you.

Best Regards,

Dimitri Schwarz, Realtor 239.992.9119
0 votes Thank Flag Link Sun Jun 10, 2012
Dear Cercle; Thanks for your posting. Yes, good counsel is available in Florida as many international buyers enjoy investing in Florida. We can refer to to counsel that can assist in Collier and other counties in Florida.
Sincerely,
Steve Moller
Vanderbilt Realtors
Naples, FL. 34109
http://www.vanderbiltrealtors.com
0 votes Thank Flag Link Sun Jun 10, 2012
As others have said there are many misconceptions about tax ramifications and status. It is best to contact an attorney who SPECIALIZES in these matters.

I have referred clients to Norma Brenne Henning, J.D., Honorary Consul to the Federal Republic of Germany at 239-552-4100 and have received positive comments from the clients that have dealt with her. nbh@swbnaples.com

Another attorney I have recently met with and was very knowledgeable was Ricardo Skerrett, http://www.rocardoskerrettimmigration.com / 239-936-0800 / his practice is limited to Immigration and Nationality Law and his knowledge related to real estate matters was excellent.
0 votes Thank Flag Link Sun Jun 10, 2012
I would recommend you consult with a real estate attorney who can also advise you of tax liabilities and credits if applicable.
Let us know if we can be of service or if you need the name of such an individual. We have several attorneys you may choose from who is part of our team.
Sincerely,
Claudette Looker
0 votes Thank Flag Link Sun Jun 10, 2012
There are legal issues for foreign buyers relating for instance to the situation should one of them die. My foreign clients usually see Ray Bowie , Attorney on 6th Ave south, and in some cases he puts the title in the name of a corporation. Foreign buyers must also be aware that when they sell the property there is a 10% withholding which is passed to the IRS and can be reclaimed if capital gains tax is not payable after the year end tax return has been submitted to the IRS.
Kathy Crandall Waterfront Realty.
0 votes Thank Flag Link Sun Jun 10, 2012
As Realtors, we are not supposed to discuss legal issues if an attorney should be involved. We can not provide legal advice. However, there are some legal issue that effect everyone regardless if foreign national. As a foreign national, you should read up on the tax implications. Purchasing does not have many implications that are different from citizens, but when you sell your property our government does impose certain restrictions. FIRPTA. Here is a link to the IRS website- if it doesn't work, just type FIRPTA into Google and go to the IRS.gov site to read up. http://www.irs.gov/businesses/small/international/article/0,…
You should have a good lawyer and accountant that is familiar with your country of origin that can help you the best way possible. I hope that helps you without overstepping my bounds. Thanks for your understanding and I wish you the bet of luck with your purchase. If I can be of any further assistance please email me through my profile or visit my website through the link below. Best regards, Danny Barto
0 votes Thank Flag Link Sun Jun 10, 2012
Cercie,

That is an individual decision and a lawyer should be consulted to look at your personal situation.

Scott Riddle
239 289 1849
0 votes Thank Flag Link Sun Jun 10, 2012
There are some of course and a more in depth discussion would need to be had. We would also recommend an attorney be involved. http://www.naplesrealestateguys.com/
0 votes Thank Flag Link Sun Jun 10, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer