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Security Title Agency
Security Title Agency: Superstition Springs Branch, LuAnn Pulver, Manager
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Contact us for more information on foreclosure/bank owned properties, short sales and investment opportunities. We have a team of buyer specialists that are highly qualified to help you with all of your real estate needs.  Foreign Investment in Real Property Tax Act The Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) is a law of the United States of America that applies to the sale of interests held by nonresident aliens and foreign corporations in real property located within the United States.[1]
FIRPTA authorized the IRS to apply a withholding income tax on nonresident aliens and foreign corporations with sales of US real property interests.[1] A real property interest includes sales of real property as well as sales of shares in certain US corporations that primarily hold and sell real property in the US. When a person or corporation purchases a US real property interest from nonresident aliens or foreign corporation, they are required to withhold 10% of the amount realized.[1]
The withholding tax is intended to ensure that the US is able to tax the gains realized on the sale of such interests.[1]
A common exception to FIRPTA withholding is that the person or corporation purchasing the property is not required to withhold tax when the purchaser purchases real estate for his or her own home and the purchase price is $300,000 or less.[1] (This information furnished by Wikipedia, the free encyclopedia) For more information on FIRPTA guidelines, please visit the IRS website at: http://www.irs.gov/businesses/small/international/article/0,,id=105000,00.html
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First Time Buyers >Good Faith Estimates
Several years ago the U.S. Congress tried to protect consumers from a few unscrupulous lenders by requiring all lenders to calculate and disclose the annual percentage rate (APR) you pay on your mortgage loan. But most homebuyers will learn more by directing their attention to the Good Faith Estimate of Settlement Costs (GFE). Although Congress meant well, in practice the APR is not helpful and may be confusing.
If you are looking for a good way to understand your costs of borrowing and/or to compare one lender's costs to another, the GFE is your best bet. Get your lender(s) to provide a written GFE before you commit your mortgage business. When reviewing a GFE, keep in mind that the lender actually controls only a certain portion of the disclosed costs. Other parties typically control costs of appraisal, settlement, title insurance, recording fees and taxes, survey, and the "prepaid" expenses of homeowner's insurance, mortgage insurance, real estate taxes, etc. Review these origination fees, discount points, etc. and you will have the ability to understand the full costs of your proposed mortgage loan.
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| Q |
Which famous skilled mason laid the cornerstone of the Capitol Building in Washington, D.C. in 1793?
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| A |
George Washington, the first President of the United States. |
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