Home Buying in New York>Question Details

Manjeet Singh…, Home Owner in El Sobrante, CA

As a B1/B2 Visa holder, Can I buy residential property in Newyork in cash....I m from India

Asked by Manjeet Singh Mahal, El Sobrante, CA Thu May 27, 2010

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i have a b1 b2 visa... which is still valid for another 5 years.... i wish to buy a property in the us.... i have 2 questions..... if i buy a property...do i get a permenent visa ...and if not.... how much will i have to invest.... if i wanted one.... my next question is ... if i can i buy a house in the us... can i buy forclosed porperties and give them on rent... or can i come to stay there???

any one please reply....
i wish to get a solution to the delima im in from past 5 years.


thanks
email me at punit691986@gmail.com
0 votes Thank Flag Link Sat Feb 9, 2013
Yes, you can purchase a property in the United States. You would have to purchase it cash due to the fact that you're not a legal resident. Also, the B1/B2 have certain time restrictions so be aware of those when entering the U.S.

The only other issue that might arise is from Escrow. They might want information and/or documentation of funds, etc....

Good Luck,
Yeprem
0 votes Thank Flag Link Mon Oct 15, 2012
Yes, you can buy a property remotely from another country, if you pay cash.

Refer to http://www.buyhomeinus.com, this website contains a lot of information for foreigners wanting to buy a property in USA..
Web Reference: http://www.BuyHomeInUS.com
0 votes Thank Flag Link Sat Apr 7, 2012
Yes. Advancial Credit Union out of Dallas offers an agressive immigrant / expat mortgage loan program.

This program is for professional immigrants entering the USA on an acceptable work visa.
No US credit required.
No SSI or TIN number required.
We do not have restricted markets. Product is available in all 50 states.
Loan sizes up to $3,000,000.00 allowed.
20% down payments allowed to $1,500,000.00 loan amount.
Foreign assets are considered on a case by case basis for reserves and down payment.
We will pre-qualify using an offer letter. First paystub is required for funding.

Please call John Burkel – 972-201-1645 with any questions.
0 votes Thank Flag Link Tue Mar 27, 2012
Hello John! This is Luis Arevalo, I'm from Guadalajara, Mexico. Are you still working at Advancial Credit Union? Can you contact me through my email address? finanzas_arevalo@hotmail.com Thank you!
Flag Wed May 21, 2014
Hi Manjeet,

The US real estate market is friendly towards international buyers. New York condominiums are the most popular choices among international buyers. Since purchasing co-ops and other special types of housing requires buyers to show US tax returns, these options are more challenging for foreigners. International buyers can purchase a co-op property but it involves a more challenging process than buying a condominium. Condominiums have minimum restrictions regarding use or ownership. Part-time residence (pied-a-terre's), as well as rental arrangements, are permitted under condo regulations. Even though condos are priced higher than co-ops, they make up for the difference in convenience and flexibility. Since it is so easy to buy or sell a New York condo, more international buyers are eager to experience life in a Manhattan condominium.

Call or email me so we can discuss details of affordability, amenities and the location where you wish to purchase an apartment in New York.

Sincerely
Anoop Punjabi
Halstead Property LLC
apunjabi@halstead.com
W: 212-317-7844
C: 917-972-6009
0 votes Thank Flag Link Thu May 27, 2010
Yes you can - anyone can buy property in the US even if you do not have a visa to go there, you can hire agents to represent you or form a company and buy the apartment under that co. - its safer to do that. They would only like to see the source of your funds and if you can prove its legal then no problem.
0 votes Thank Flag Link Thu May 27, 2010
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