All Forum Posts by: Rhys Royales

Thank you for your response @Patricia.  This is my initial response and just wanted to make sure that they aren't really any basis for them to be able to put a lien on the property.  Again, thank you for this.

I have assigned a contract in Maryland to an end buyer for a property owned by a foreign family that needs to get an ITIN and FIRPTA from the IRS. I have expressed upfront to the end buyer that the closing process could take months since application for ITIN and FIRPTA could take weeks. There was a delay on the seller's end to start the application of the ITIN and FIRPTA because the end buyer wanted to renegotiate the price of the property. On top of that, the previous government shutdown delayed the process as well. As we come nearer to the closing deadline, I requested a contract deadline extension from the seller which they willingly agreed/approved. Upon letting the end buyer know that the closing deadline has been extended in case the ITIN and FIRPTA won't get on time, the end buyer threatened that they have been patient long enough and will require either:

1) addendum to include an allowance for an extension of a per diem charge of $100 past the agreed upon 12 week date.

or if I do not agree with this,

2) they intend to place a lien for the "executed labor" that has already been completed.

Key notes are: 1) No one allowed the end buyer to do any work on the property and; 2) I just checked the property this week and there are no significant changes or improvements on it.

Has anyone here wholesaled a property that is owned by a foreigner? I have come across FIRPTA on my research and that the IRS will have to review and approve the 8288-B form submitted. And that part is pretty simple if I was going to buy the property. However, would it be possible to wholesale it? Has anyone come across a situation like this and FIRPTA? Any advise is greatly appreciated

@Nadia White Would you be so kind to send me a copy of the Memorandum of Affidavit you used?  Thank you much,

That would still be very much appreciated.  Any combination of those counties works.

Hi BP! Do you have any recommended real estate agents that work in Washington, Frederick and Montgomery Counties? I have a property in Hagerstown, MD but interested in acquiring another one within those counties.  Any help/recommendations are definitely appreciated.

Thank you!

@JR T. I'd like to talk to you more about investing in Hagerstown.  I am in Frederick as well, I would love to get lunch or coffee with you

@Hank Parater @Bill Kenny I also need a contractor for a hagerstown property I am about to buy. I will send a PM

@Russell Brazil Can you share with us the contractors you do not like?

Originally posted by @Bill Kenny:

Hi Rhys, Welcome to BP. I'm in Hagerstown and spend a good amount of time in the Frederick area as well. There is a very active REIA in Hagerstown called the HUB CITY REIA. It includes a networking hour and an educational presentation. 1st Thursday of the every Month. Good Luck with your continued education. Its a life long process!

 Thanks @Bill Kenny! I will definitely try to attend as soon as I can! That really sounds good. Thanks for the invite!