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Foreign Home Buyer Considerations

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Thursday September 2, 2010
 
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Special Considerations For Foreign Buyers: There are some specific rules and regulations regarding a non-us citizen purchasing real property in the United States. First is the matter of whether it’s an investment property, second home, or primary residence. Once this is determined there are several choices that must be made as far as financing is concerned. If you do not have either a social security number or a FICO score then one needs to be established. Equifax offers an international credit report which is very helpful to the lenders. Credit ratings will need to be established. Banks with FX exchanges are useful for foreign buyers as well.

If you let us know your circumstances, we can assist you through this somewhat confusing transaction. If you know how to satisfy the lender and you have someone who is familiar with the process you should have no problems in purchasing property in the US.

Each case is unique and the parameters to consider also change over time, so specifics are difficult to delineate without a specific circumstance. If you are looking for property, already have a property in mind, or have an area in mind, we can assist you. Let us know and we will be pleased to assist you.

Understanding Exchange Rates

Please feel free to contact us via telephone at 401-293-0631 to speak to Mandie Sullivan, herself a citizen of the United Kingdom, and our President, or use our contact form here.

Important Note: There is a difference between working with a sellers agent and having your own representation with an exclusive home buyers agent. See our section on Buyers Agency, and our section on standard real estate agency.

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Registered international home buyers of this site have access to contract samples, detailed listings of gem houses, and more. Register for free today for complete access to these valuable resources.

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