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Old 08-08-2008, 06:28 AM
 
30 posts, read 92,766 times
Reputation: 13

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I know that there are some of implications. How much are the tax of incoming rent? And If a day i want sell the house? I know there are particular rules

Forgive my english, i hope i could explain my worries

Many thanks
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Old 08-08-2008, 08:38 AM
 
23,177 posts, read 12,219,693 times
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Legal or illegal? I don't think there are any differences in citizen versus non-citizen as far as owning a home although there may be differences in filing income taxes. Tax implications vary so much you need a CPA.

An illegal obviously runs the risk of being arrested and deported with no opportunity to settle up on personal business. I think their property rights remain intact but would need an honest agent to handle everything.
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Old 08-08-2008, 11:08 AM
 
10 posts, read 52,558 times
Reputation: 20
Green card or visa? There are typically no problems buying and selling a house, even when on a visa. The problem occurs when were to pass away.

Check with an estate lawyer how to best protect your investment from completely disappearing the the tax man, in case you were to pass away.
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Old 08-08-2008, 03:42 PM
 
Location: Venice Florida
1,380 posts, read 5,928,993 times
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The only thing to be aware of is that on the sale of the property a Federal regulation know as FIRPTA will come into effect. 10% of the selling price is withheld. The non-resident seller can then file tax returns to get some or all of the withheld portion back depending on the amount of capital gain on the sale.

Last edited by FLBob; 08-08-2008 at 03:43 PM.. Reason: fat fingers
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Old 08-08-2008, 04:59 PM
 
995 posts, read 3,930,036 times
Reputation: 362
Quote:
Originally Posted by FLBob View Post
The only thing to be aware of is that on the sale of the property a Federal regulation know as FIRPTA will come into effect. 10% of the selling price is withheld. The non-resident seller can then file tax returns to get some or all of the withheld portion back depending on the amount of capital gain on the sale.
AFAIK, This only applies to foreigners on temporary visa. Permanent residents don't get withheld.
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Old 08-08-2008, 06:52 PM
 
Location: Western Mass.
605 posts, read 2,380,906 times
Reputation: 311
He didn't say that he wanted to live in the U.S. or even apply for a visa.
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Old 08-25-2008, 04:38 AM
 
30 posts, read 92,766 times
Reputation: 13
Hi to all,

sorry if i explained bad. I dont want, at least now, come there to live or soemthing else. Now i live in Italy, and my question was abt the issues i can have remaining here in Italy, and buying an home in FL to rent.

Many Thanks

Alessandro
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