What additional expenses/taxes do foreign real estate buyers/sellers face when investing in property in California?

Asked by Santa Monica, Ontario, CA Thu Sep 20, 2012

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Elizabeth Sa…, , Fort Collins, CO
Mon Sep 24, 2012
I encourage you to consult with an attorney and/or escrow company. Good luck with your investing!

Elizabeth Sorgen
310-469-0500
0 votes
George Salaz…, Agent, Santa Monica, CA
Thu Sep 20, 2012
There are no additional expenses-taxes per se for foreigners when buying or selling real estate in California.

Profits from the sales will be taxed according to State and Federal Tax guidelines for foreigners, and some withholding will happen at sale.

I have worked with foreign investors before and I can put you in contact with tax attorneys that will assist you in determining your tax liability upon sale based on your citizenship and other factors.

George Salazar
Lic#00884017
Prudential California Realty
(323) 710-1770 direct
george@westsidegeorge.com
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