“Do I need to use a different sales contract if my buyer is a foreign national?”
February 8, 2024
*Please note: Any questions regarding Legal Hotline Spotlights should be submitted via the Virginia REALTORS® Legal Hotline. Our attorneys are unable to respond to questions through our comments section.
Q: I have a potential buyer who is a foreign national. Do I need to use a different contract?
A: No, you would use the same contract as you would for any domestic buyer. There are going to be some additional tax documents that the buyer will need to fill out before—or at—closing, so you should advise your buyer to speak with an attorney about those issues. But from a contract standpoint, you can treat the transaction the same as you would any other.
Have a question about this article? Submit it to the Legal Hotline!
The Legal Hotline is a member benefit that has been supporting members for over 25 years. Our team of lawyers answers your important questions about real estate transactions quickly and accurately (usually within three business hours!).
Here are some tips to help make the Legal Hotline work for you!
You might also like…
“Can my landlord charge a second security deposit on a lease renewal?”
By Jon Haley - March 25, 2025
*Please note: Any questions regarding Legal Hotline Spotlights should be submitted via the Virginia REALTORS® Legal Hotline. Our attorneys are unable to respond to questions through our comments section. Q:… Read More
Navigating Fair Housing Law: When A Prospective Tenant is a Sex Offender
By Ryan Leonard - March 25, 2025
Suppose you manage a property and receive an application from a prospective tenant who, upon doing your due diligence, you learn is a tier 3 sex offender with… Read More
“Does the Residential Property Disclosure Act conflict with the VAR contract?”
By Santiago Montalvo - March 21, 2025
*Please note: Any questions regarding Legal Hotline Spotlights should be submitted via the Virginia REALTORS® Legal Hotline. Our attorneys are unable to respond to questions through our comments section. Q:… Read More