ALL FIRPTA information is contained in the FAR/BAR contract. There is no other addendum or waiver available to us. All language was added to the contract (see below) and the waiver was removed because it implied that we were giving tax advice and we are not tax attorneys, consultants or experts. We need to stay in our lane. Please look at the FAR/BAR contract:
AS-IS
Residential Contract:
Section 10 - Disclosures:
(i) – Foreign Investment in Real Property Tax Act (FIRPTA)
Lines 242-249
Standard
Contract:
Section 18 – Standards:
(V.) – FIRPTA Tax Withholding
Lines 646-672
Please ask the buyer to read this info and reach out to their tax advisor if they have any questions. Here is a widely used resource with a very good reputation: https://www.robergeco.com/
St. Petersburg
Office
One Beach Drive SE Suite 220
St Petersburg, FL 33701
Phone: (727) 822-9393
Fax: (727) 823-6781
Sarasota Office
One World Center
2199 Ringling Blvd.
Sarasota, FL 34237
Phone: (727) 822-9393
There is an addendum that goes with the FAR CRSP contract, but that contract is rarely used and we should always make sure that the addenda we use matches the contract (look at the lower left corner of the addendum as it will state FAR/BAR or CRSP). Why? What if the language in the contract and addenda conflict? What prevails? No idea......but if you use the correct addendum that matches the contract there will never be a conflict.