Hello Mr. Macpherson,
Perhaps we have met since I was on the BKIA Board for years and lived there for 9 years. If you are here now, I would suggest meeting, so I could provide you with a detailed copy of FIRPTA which in most cases does require withholding 10% which is focused on capital gains. I assume you have owned for years and might have a gain. Please click on http://www.irs.gov/businesses/small/international/article/0,
or google http://www.irs.gov
for the details.
I am acquainted with a couple of local CPA's and attorneys who are well-versed on this topic. As a realtor, I cannot provide any opinions outside of r.e.; however, I have worked with a number of foreign nationals and have f.n. friends here on Bird Key and in Sarasota who have set up US businesses or participated in LLC's to protect their investments. And the number of foreign nationals purchasing here has increased in the last year with SRQ County having the largest # of foreign buyers and highest $ in all Florida counties.
Should you be pondering selling or just curious about the value of your home, I would also suggest a Market Value Report to determine a realistic value in today's market . I would be happy to invest the necessary time to provide you with an extensive list of active and sold properties on BK should you be interested. Demand is way up for good BK homes and there are only 32 homes currently on the market vs and average of 45-55 in the past few years.
One cannot match the location and convenience in a beautiful, deed-restricted community. I have experienced over 35 showings on one of my listings there and have been impressed with the interest for BK. You are fortunate to have lived there.
If I can answer any questions, please send me an email or give me a call.
100 N. Tamiami Trail