I’d skip international seller, especially far out closing date deadlines, unless the deal was way too good to pass up.
Google says:
Key Reasons to Avoid International Sellers:
- FIRPTA Compliance: A significant portion of the sale price (often 15%) is withheld by the IRS until taxes are cleared, adding complexity, potential delays, and the need for a tax ID (ITIN) for the seller.
- Longer Closing Times: Due to the extra legal and tax documentation required, the closing process can be extended, which might be frustrating for buyers.
- Potential for Complications: If the FIRPTA paperwork is not handled correctly, it can lead to issues with the IRS months after closing.
- Seller Communication/Signatures: Coordinating with international sellers, who may be in different time zones or have multiple owners, can sometimes cause delays in obtaining necessary signatures.
Potential Advantage (Exceptions):
- Easier ROFR Approval: Because the process is more complicated, some, including DVC Fan, note that Disney sometimes waives its Right of First Refusal more readily, as they may prefer to avoid the extra administrative burden of a foreign transaction.