FIRPTA 2015 Path Act 15% withholding ramifications for buyer

[Jared Adamson]

I have just been notified that I need to sign a few extra IRS documents for the purchase of a vacation rental property I am hoping to purchase in Tahoe.  There are 8 sellers and a few of them are international and apparently there is a new process for the IRS to collect 15% from the international buyers at the time of purchase.  Apparently as the buyer I am responsible to see that the withholding tax of 15% of the gross sales price is withheld from sellers proceeds.  

My concern is that from what I understand I am liable for any interest or penalties that the sellers of the properties incur.  

Does anyone have any experience with this and should I have concern or is it not a big deal?  Any info would be greatly appreciated!  Thank you!