Eugene y (eugeney)

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Rainmaker
4,059,153
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

 See the answers provided by Jeff Dowler CRS and Gary Coles (International Referrals).

Mar 25, 2016 11:07 PM
Ambassador
4,557,561
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

You got your answer from Gary on FIRPTA.

The TDS is a required seller disclosure (with some exceptions) for the seller to share information about the property for the buyer

Mar 25, 2016 11:27 AM
Rainmaker
530,285
Gary Coles (International Referrals)
Venture Realty International - Las Vegas, NV
Latin America Real Estate

Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) is a law which makes certain that the IRS can collect taxes if the Seller is a foreign national.  The disclosure is designed to protect the parties involved in the transfer.  If the taxes are not withheld and the Seller does not pay, the IRS has the ability to collect from the Buyer or anyone else involved in the transfer  -  maybe even the real estate agents involved

Mar 25, 2016 10:58 AM
Rainmaker
1,514,305
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

This is what your broker, or mentor, or teacher for. If you are member of C.A.R. they have all tutorials in zipforms you need for EVERY form. 

Mar 26, 2016 05:11 AM
Rainmaker
843,796
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Hopefully you'll get a better mentor or broker...SOON! Best wishes!

Mar 25, 2016 03:09 PM
Rainmaker
1,380,323
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Jeff and Gary have your answers.  The TDS (pronounced "tedious") is required almost every time (I'm in one right now where the seller is exempt, first time I can recall seeing that).

Now the AVID, that is NOT required.  Don't let anyone fool you.  It increases your liability and I am trying to get it removed.

Mar 26, 2016 08:12 AM
Ambassador
1,576,105
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Michael Jacobs has the perfect answer for you.

Mar 25, 2016 11:34 PM
Rainmaker
3,069,934
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

parked and reading

Mar 25, 2016 11:17 PM
Rainmaker
4,433,583
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Call a Real estate  attorney .

Mar 25, 2016 09:26 PM
Rainmaker
634,272
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Looks like you got some good answers, Eugene. There is a good reason agents earn substatial commissions when there is a sale. One reason is real estate is often very complicated and it must be done right. The cost to the seller or buyer who makes a big mistake can be devastating.

Mar 25, 2016 06:08 PM
Rainer
116,640
Althea Kippes, Esq.
A.T. Kippes, Real Estate Broker - San Francisco, CA
Serving San Francisco to Silicon Valley!

Go to www.nolo.com and buy this book: http://www.nolo.com/products/for-sale-by-owner-in-california-fsbo.html

 

Mar 25, 2016 05:26 PM
Ambassador
4,312,753
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Eugene y - you got a few good answers....

(And working with a mentor does help.)

Mar 25, 2016 04:03 PM
Rainmaker
1,149,109
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

 contact your title company for reasons.

Mar 25, 2016 02:11 PM
Rainmaker
2,634,037
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

The disclosure helps along the material fact process.

A check box on the form notifies the all parties of tax due. Escrow acts on it

Mar 25, 2016 11:55 AM
Rainmaker
1,987,878
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

FIRPTA affidavit is usually done at closing here

Mar 25, 2016 11:49 AM