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Updated over 7 years ago,
Property may be subject to FIRPTA ... deal killer?
I'm looking at a small condo to buy as an investment, and I noticed in the seller notes that the property may be subject to firpta... is this a deal killer? I've never heard of firpta until now and in doing my research, it looks like it's a bunch of risk on the buyer side?
Can someone please eli5 about firpta and whether I should back away slowly from property.
Everything else looks good and the cash flow is definitely decent... assuming this won't cause a whole host of legal/tax problems.
What should I look for and what questions should I be asking?