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8288-B Foreign Withholding

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    #1

    8288-B Foreign Withholding

    If the property will be sold for a loss but it is not under contract yet, can I go ahead an apply for the exemption certificate on 8288-B so that 0 is withheld at closing ? The form requires a transferee/withholding agent information. The seller is listing the property for less than what he bought it for and he'd like to get this form processed way ahead of time so there's no issues at closing.
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    #2
    Why is the foreign seller listing the property for less than what he bought it for? Depreciation? Related party?

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      #3
      He bought the property at the peak of the real estate bubble and it has never fully recovered to his original purchase price.

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