Home Buying in Oberlin>Question Details

Brenda, Home Buyer in Australia

Do I need to have a social security number to purchase a house in Ohio...I am a foreign investor

Asked by Brenda, Australia Sat Aug 11, 2007

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Are you paying with cash or getting a loan? If you are paying cash I don't think you need SS number. However if you are not legally a permanent resident I believe the title company will withhold 20% of the proceeds (not 20% of profit, but 20% of sales price.) when you sell. So you do need to think about exit strategy. If you plan to get a loan then you will likely need some kind of identification number either SS number or tax id number.
Web Reference: http://www.teamlynn.com
1 vote Thank Flag Link Sat Aug 11, 2007
Bruce Lynn, Real Estate Pro in Coppell, TX
The Tax ID is a basic requirement. If you are utilizing a bank in your country however, it would behoove you to sync up with a bank in the state you are investing in - not to mention general counsel in the state as well.
1 vote Thank Flag Link Sat Aug 11, 2007
You will need a tax id of some kind, as many of the componnets in real estate involve taxable transactions.
Web Reference: http://www.druryrealty.com
0 votes Thank Flag Link Fri Dec 11, 2009
you will need a taxpayer ID
0 votes Thank Flag Link Sun Aug 12, 2007
The Hagley G…, Real Estate Pro in Pleasanton, CA
As a foreign investor you would need a tax payer ID to purchase in the United States. In some cases I have seen where a lender may require a green card.
Web Reference: http://pamwinterbauer.com
0 votes Thank Flag Link Sat Aug 11, 2007
Pam Winterba…, Real Estate Pro in Danville, VA
You just need a tax id. There are plenty of foreign investors making purchases in the United States!
0 votes Thank Flag Link Sat Aug 11, 2007
No, just a taxpayer id number which any business can and should get as a tax shield. A foreign partner must obtain an Individual Taxpayer Identification Number from the Internal Revenue Service. This number must be used on all tax forms and will assure the correct application of withholding taxes.
0 votes Thank Flag Link Sat Aug 11, 2007
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