Mobile: (520) 313-0352    Email: ypalmer11@gmail.com
Yvette M. Palmer, Associate Broker
AGAVE PREMIER PROPERTIES
Foreigner Purchasing US Properties
According to the National Association of Realtors®, international buyers from Canada, China, India, Mexico and the United Kingdom remain the major sources of foreign buyers. For the first time, China is the largest country of origin of international buyers, both in terms of units of sales and dollar volume of sales. Chinese buyers also purchased more expensive homes compared to buyers all other buyers.
 
In terms of location, Florida, California, Arizona, Texas, and New York are the top preferred locations based on the number of reported purchases. The bulk of international purchases are predominantly all-cash sales for single-family homes intended to be used for residential purposes. The buyer's employment, vacation preferences, family, educational, and investment objectives affect the choice of location and the type of property desired.

 

2016 Profile of International Home Buying Activity by REALTORS® on Scribd

UNITED STATES IMIGRATION VISAS

Simply buying real estate in the United States does not give foreign owners any rights or privileges regarding legal stay or status. If you're interested in staying in the states longer than allowed by a standard visa, contact an immigration lawyer.

US REAL ESTATE MARKET

Each state in the United States has its own set of rules regarding the purchase of real estate, including the type of purchase contract used, the method of closing the sale and even the duties and titles of the individuals involved. If you are thinking of buying a property in Arizona the following links will help you through the process.

FOREIGN NATIONAL MORTGAGE

Down payment requirements are usually higher for foreign national borrowers. The minimum down payment is usually 20% of the total purchase price of the property. Mortgage lenders have individual guidelines and may not be able to offer a loan in all the US states. Following links will help you get started on financing your property in the US as a foreign buyer. 

DISCLOSURE

Foreign buyers will also want to give consideration to issues such as currency exchange rates, international wire transfers, banking systems, multi-national taxation and accounting issues, and import/export restrictions regarding currency and household goods.
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