Answer:  Your agent will handle all the customary details but, yes, there are several things that you should be aware of. First, don´t start figuring out your proceeds until you deduct taxes that need to be paid to Uncle Sam.

There are two parts to the real estate withholding law. One is the state withholding. It is a 3 1/3 percent prepayment of state income taxes for all sellers of California real estate, subject to a few exemptions that do not include foreign sellers. Technically the buyer is responsible for withholding but the escrow company handling the transaction will do the paperwork. The escrow company is required to notify buyers in writing of their withholding obligation. When the escrow company has been directed to withhold by the buyer, or has assumed responsibility to withhold, the escrow company will complete forms that are then provided to the seller and the California Franchise Tax Board.

The second part is federal withholding. Since you are considered a non-resident or "foreign person", the Foreign Investment in Real Property Tax Act (also known as FIRPTA) will require that the buyer withhold 10 percent of the gross sales price. The same escrow procedure as above will apply, except the monies will be sent to the Internal Revenue Service, not the FTB.

In addition to paying state and federal taxes, it is necessary to obtain an Individual Taxpayer Identification Number for the IRS. It is for taxpayers who are required to have a US taxpayer identification number (since you will be paying taxes to the US government on the sale of your property), but who do not have, and are not eligible to obtain, a social security number. You must apply for the ITIN as soon as you have your property is in escrow. It probably would be a good idea to start the paperwork as soon as it goes on the market, especially if you anticipate a short escrow as the process can take up to six weeks or longer. There are several places that can help you with the form. If you have an IRS office (there are offices abroad) near you, be sure to find out if they can assist you with the form. If this doesn´t work, you can get the application at certain US consular offices or at one of the international CPA firms that are part of the Acceptance Agent Program. To find one in your area visit the IRS website at www.irs.gov.