I went through numerous national lenders and was unable to get a client with a valid proof that they had a right to be in this country a loan. Their credit was superior.
An alternative would be to go through a private lender.
We just published a FAQ's about Foreigners Buying and Selling Real Estate in the US by our tax attorney Wendy Fitzsimons. It focus on many legal and tax issues that a non-Us Citizen may face.
MANHATTAN MIAMI REAL ESTATE
When they sold, 10% of the proceeds was held back under FIRPTA, the Foreign Investment in Real Property Tax Act. If we're talking more than a couple of thousand dollars, a CPA is well worth the money.
All the best,
All the answers are good. Some of the best places to look are going to be where the prices are lower, inventory of new homes/condos is slightly above demand but not a glut and with positive economic and tourism news in the pipeline.
A few areas I deal with fit these criteria:
Mobile (also the city name) and Baldwin counties. Mobile benifited from New Orleans damage as a port city that was basically undamaged. There have been many news reports from CNN, CNBC, New York Times, Business Week, etc about the recent influx of massive investment from ThyseenKrump, EADS/AIRBUS and others. The city and immediate Gulf coast will recover value quickly as these businesses relocate and hire over the next 3-5 years.
The Emerald Coast of Northwest Florida is mostly unknown to Europeans but new fasttrack international airport is under construction near Panama City. There is currently a glut of condos and very high end single family homes but with the opening of thie facility the world will discover this gorgeous region.
And of course to the west of the Alabama Beaches of Dauphin Island, Gulf Shores and Orange Beach is the waterfront gaming emporiums of Biloxi with lots of room for growth.
I practice real estate as an agent in Alabama and Florida and have aliances in the Biloxi region. I am also an investor and partner in developments and construction in the region. Through alliances/relatives I can also offer access to hotel and hotel management companies.
If I can be of service email mlaney@ForgottenGulf.com or call USA1-251-650-4017
There's no restrictions on buying in the states; here in California the state will want to guarantee their taxes upon a non-citizen/non-resident selling. With the dollar hammered you will probably find some good deals. Let me know if you're thinking of shopping in San Francisco! :)