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FIRPTA Withholding

What is FIRPTA? FIRPTA refers to the Foreign Investment in Real Property Tax Act of 1980 which authorizes the U.S. to tax foreign persons on dispositions of U.S. real property interests.   Who does FIRPTA apply to? FIRPTA applies to[...]

The New Closing Disclosure Form

What is changing? The new closing statement form, called the Closing Disclosure (CD), will be used on loan applications taken for new mortgages after October 3, 2015. The lender, not the closing agent, will prepare and deliver the CD. The[...]

As-Is Contract Provisions*

What does it mean to purchase property under an “as is” contract? It means that the seller agrees to sell and the buyer agrees to buy the described property in the condition that it is in on the effective date[...]