Real estate transactions with some level of foreign involvement are quite common in Texas—so common that the TREC residential 合同 and 德州2021十大正规彩票app经纪人® commercial 合同 contain paragraphs related to the Foreign Investment in Real Property Tax Act (FIRPTA). Sooner or later, you are likely to work on a deal subject to FIRPTA.

Eight percent of all homes sold by foreign 卖家 in the U.S. from 2018年4月 to 2019年3月 were sold in Texas, according to NAR. Texas accounted for 10% of all homes purchased in the U.S. by international 购房者 during that same time frame. That’s 18,310 homes that will eventually be sold again, triggering FIRPTA questions.

And that’s just one year of sales. Combine those data points with the existing stock of foreign-owned Texas homes plus the billions of dollars of foreign-owned commercial properties across the state, and the magnitude of FIRPTA-impacted deals becomes clearer.

The time to prepare for a FIRPTA transaction is before one comes your way. 阅读本文 in the November issue of 德州2021十大正规彩票app经纪人® 杂志了解更多.