• The agency commission generally of 6% shared between the real estate agency of the seller and that of the buyer and is usually the responsibility of the seller.

• Records of transfer of title and other legal procedures.

• Lawyer fees (the seller is not obliged to hire a lawyer).

Capital Gain Tax

After one year of ownership, the capital gain tax is 20%. If the asset is hold less than one year the capital gain tax is between 20 and 39%.

FIRPTA= INCOME TAX ON FOREIGN PERSON

If the seller is not a US citizen or a permanent resident, 10% of the price will be withhold at the closing.