I'm not a DVC member yet.
Two resale contracts have been forwarded to DVC for ROFR.
The escrow company has just emailed me (the buyer) that:
- The sellers are foreign persons and I'm responsible to withhold either 10 or 15% of the purchase price.
- Then I pay the withholding amount to the IRS within 20 days of closing.
- I have the option of using a tax professional or using the escrow company to prepare, as a courtesy, for me.
Should I let the escrow company do it?
Is there anything I should be aware of?
Would this delay the closing?
Has anyone done this before?
Awaiting your answers.
Thanks,
Two resale contracts have been forwarded to DVC for ROFR.
The escrow company has just emailed me (the buyer) that:
- The sellers are foreign persons and I'm responsible to withhold either 10 or 15% of the purchase price.
- Then I pay the withholding amount to the IRS within 20 days of closing.
- I have the option of using a tax professional or using the escrow company to prepare, as a courtesy, for me.
Should I let the escrow company do it?
Is there anything I should be aware of?
Would this delay the closing?
Has anyone done this before?
Awaiting your answers.
Thanks,