Pending Real Estate Transactions

Real Estate Transactions Under contract but have not yet closed.

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  Two withholding choices:

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• File for Reduced Withholding Certificate at closing.

  • 15% Seller withholding stays with closing agent for about 90 days until IRS responds.

  • IRS authorized release amounts, if any, are returned to Seller right away! Speedy.

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• Or Buyer/Payor remits 15% withholding of the total sale price from Seller's proceeds to the IRS within 20 days.

  • Year end tax return must be filed for refund. May take 3-4 months to receive a refund.