Surprise! Escrow Officer Janine Decker was closing a few days in advance with our Sellers, when it was discovered at signing that Mrs. Seller was not a US Citizen (Canadian) and did not have a tax id number.
Gulp….can you say FIRPTA Withholding?
We sent them across the parking lot to a prominent CPA firm here in Naples who specializes in International Tax, who gave them advice, assisted them with the W-7 for the tax id number, then we rescheduled them for later that same day after forms and HUDS were adjusted for the withholding.
Agents, be sure to identify your Sellers and have the appropriate forms and disclosures filled out and provide to the closing agent!