INTERNATIONAL BUYERS

Purchasing real estate in many areas of the world is conducted in a different manner than it is in the US. In other locations, you may have to deal with many Realtors, since they are only able to sell properties they have listed. The process is different here. As a Buyer, you need deal with only one Realtor and, of course, I hope you will select me as your exclusive agent! This will cost you absolutely nothing! My commission is paid by the seller of a re-sale property, or by the developer if purchasing new construction.

As a Realtor, I belong to the Naples Area Board of Realtors, an organization that produces a Multiple Listing Service (MLS). The MLS system, this highly computerized system, lists all properties for sale in Naples, Bonita Springs, Fort Myers, Marco Island and Sanibel Island. I can show you every property listed, even those not listed by Downing-Frye. This fact certainly makes life easier for you. You will work with one person who has all the facts and will not be subjected to numerous phone calls from other Realtors who are trying to sell you the same properties I am showing you. I also work with all Developers so if you fill out our brief questionnaire and send it to me by e-mail, I can determine which properties I believe will best suit your needs. I will either mail or e-mail the results of my thorough search to you. I can assure you that you need go no further in your search for a Realtor in Southwest Florida. I have an established reputation with local and international clients, who know they have made an informed choice in selecting their property, and that the service they received from me, especially after the sale, is exemplary. I would be PROUD to give you some references.

INTERNATIONAL INVESTMENTS

Down payment requirement for foreign investors - Most lenders will require 35% down on a purchase. Generally, mortgage applications are handled on an individual basis and this amount may be lower depending on a number of circumstances.

Withholding tax at time of sale of property - FIRPTA Withholding (Foreign Investment in Real Property Tax Act):
Depending on the sale price of your property, 10% of the proceeds may be withheld until the Internal Revenue Service (IRS) determines whether a capital gains tax is due. Properties sold for less than $300,000 are currently exempt. For those over $300,000, an international Real Estate attorney and/or accountant will determine whether the 10% has to be withheld. The $300,000 exemption applies only if the buyer of your property is going to live in the property and not rent it out. The buyer will be required to sign a form stating that he will be using the property for personal use for at least 50% of the first 12 months after the sale is finalized.

International Law Steven Cantor

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