Foreclosure in 92131>Question Details

Lauren, Home Buyer in 92131

Hi I am from Australia and visit San DIego a couple of times a year. Is it possible for me to buy there?

Asked by Lauren, 92131 Tue Jun 30, 2009

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5
Yes. Foreign nationals buy real estate in California all the time. If you have 100% cash funds it is easier. We just closed a sale with a national of Dubai with no problem. If you are looking to finance a portion of the purchase I would suggest working with a lender that is a mortgage bank (can loan their own money) that can also broker loans out to other investors. I have a good one local to San Diego. Let me know if you would like that contact information.

San Diego is a beautiful city and property here will always be desireable. As most of the rest of the US, we've seen significant reductions in pricing and it is a very opportune time to make a purchase. There are analysts that are predicting a housing shortage in San Diego within 3 years.... so buy in the near future!

Tara

Tara Steinke
San Diego Specialist
Residential Sales and Appraisal
619-384-6014
SDRealtor.Tara@gmail.com
1 vote Thank Flag Link Tue Jun 30, 2009
Lauren, If you have the money to purchase land or property I would think you could buy anywhere! If you're not a cash buyer and need a loan, typically, you'll have to have a job, a decent credit score and meet other criteria to qualify for a loan. I suggest talking to a lender before contacting a real estate agent so you know what price range you will want to purchase in! Good Luck!
1 vote Thank Flag Link Tue Jun 30, 2009
Hi, Lauren,
As other agents have answered before, it is absolutely possible if you can qualify.
You do have to be aware though that for foreign nationals requirements are at least 30-40% down.
Are you comfortable with that?
Also are you thinking of selling your home in order to make a purchase here?

Thanks,
0 votes Thank Flag Link Mon Aug 23, 2010
Hello Lauren, the short answer of course is yes! Without getting too wordy I would suggest calling the lender I've worked with for more the 15 years now, Shawn Perkins (619) 994-1110, and let him know that I referred you and that you'd like him to qualify you for a new home loan to purchase a home.

He's a great loan officer and will walk you through the easy process so you'll know exactly what it will take to buy a home right now and let you know what saleprice you should be looking in. Then he'll call me to confirm the amount you qualify for and I'll begin sending- you listings based on how much you can afford to purchase and in the areas you're most interested in.

Thanks and have a great day!

Keith E. Green
(619) 726-8660
Travel@cox.net
0 votes Thank Flag Link Sun Aug 22, 2010
Hi Lauren,
If you are planning on getting a loan it is very important to speak with a mortgage broker before your begin your search. While yes it is very likely that you will be able to get a loan, usually there are added guidlines to foreign nationals.
Along with the extra rules many banks are requiring heightened down payments for non U.S. Citizens.

Best of Luck!
Web Reference: http://www.sdhomeguy.com
0 votes Thank Flag Link Wed Dec 30, 2009
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