I'm buying a property from a foreign-owned LLC — what are MY obligations as the buyer for FIRPTA?
I'm a U.S. citizen buying a house from someone who I think is a foreign national (they have a foreign-sounding name and the property is in a Wyoming LLC). I'm not sure if FIRPTA applies or what I need to do. My real estate agent hasn't mentioned anything about it.
What are my obligations as the buyer? Can I get in trouble if I don't withhold? How do I even find out if the seller is foreign? I don't want to insult them by asking.
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