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Foreign sellers are subject to capital gains tax, which can be up to 35% on the net gain. However, there are deductions and exemptions available, especially if it’s your primary residence and you’ve met certain requirements. Consulting with a tax advisor is recommended to understand your specific tax obligations.
While it’s not required, working with a qualified real estate agent who understands the local market and has a network for marketing your property can make the process smoother and help you reach potential buyers more effectively.
Sellers are typically responsible for capital gains tax, the notary’s fee, and other administrative expenses. Closing costs can vary, so it's wise to get an estimate from your agent or notary in advance. Check out my Guide on Closing Costs for more information!
The timeline can vary widely depending on the location, market conditions, and demand. Coastal and tourist areas tend to have more buyers, particularly international ones, so these properties may sell faster. However, it can still take several months, and working with a good agent can help speed up the process.
My true passion has always been in real estate. I have over 15 years of real estate investing experience. I am an expert in assessing potential investment opportunities, developing strategies and knowing how to generate the best return on an investment.