Home Buying in 85032>Question Details

Reel Home Es…, Both Buyer and Seller in 85032

Foreign Investor seeking to purchase property for CASH in Arizona. What does the process entail ? Advice needed on all fronts.

Asked by Reel Home Estate, 85032 Mon Dec 19, 2011

Please recommend a good Website if poossible.

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Once your offer to purchase is accepted, the next step is to open escrow with a local title company. You will be required to present at time of closing a passport from your native country or a copy of your entry visa. Foreign nationals purchasing properties in the US are required to pay a % of the sale when the property is sold.

If you are planning on purchasing and renting the premises, depending on the location you will be subject to a sales tax which can be passed to the renter. Also your property taxes will be higher due to the non-owner occupancy factor. This is the same whether you are an American or foreign investor.

I work with various foreign clients and would appreciate the opportunity to assist you in finding the properties of your liking in Arizona. I have listed my contact information below.

Best regards,

Milly Casas

Milly Sells AZ
e-mail: milly@millycasas.com

Mobile: 480-466-0264

website: millysellsaz.com
1 vote Thank Flag Link Mon Dec 19, 2011
My blog has several posts for foreign investors. Check the web link below, and feel free to phone or email for advice.

Regards,
Ann Griffin
480-789-9584
Mesa, Arizona
0 votes Thank Flag Link Tue Mar 19, 2013
Please contact me for more information:

602-570-7898
bianca@InvestInArizonaHomes.com
0 votes Thank Flag Link Tue Mar 19, 2013
Buying a property in AZ is a great investment for foreign investors and pretty straight forward, especially if you are purchasing with cash. However you need to make sure you are working with a realtor who has worked with foreign investors and can advise you on such things as how many days you can spend in the US without residence status being established, what the difference between how resident aliens and non-resident aliens are usually taxed, whether you have to maintain a full-time residency in your home country, what kind of documentation is needed to purchase and so much more.

I would be happy to help you answer these questions. Give me a call and we can get started on your AZ investments!
0 votes Thank Flag Link Wed Dec 21, 2011
Which country are you from? My wife is from Thailand and I have currently been to 12 different countries. Also, I currently work with a number of clients from different countries.

Due to the financial crisis here in the USA, there are different procedures depending on the type of property you are purchasing. Your options are: short sales, bank owned properties (REO), HUD homes, trustee sales and traditional sales. A traditional sale is where the banks are not involved in the transaction and this might be an investor reselling a property or a homeowner that is not upside down or in foreclosure.

Please click on the following link to learn more about these types of transactions:

http://positionrealty.com/?page_id=33

Also, if you would like to search the Arizona Multiple Listing Service for "DIRECT" access to all the updated homes for sale on the market, then please click on the following link:

http://positionrealty.com/?page_id=23

I hope this helps and please let me know if you have any additional questions about the home buying process or anything else.

Sean Heideman, Designated Broker
Position Realty
4114 East Union Hills Drive #1212
Phoenix, AZ 85050

Office: (480) 213-5251
Fax: (866) 232-2256

E-Mail: sean.heideman@positionrealty.com
Web Site: http://www.positionrealty.com
0 votes Thank Flag Link Tue Dec 20, 2011
Much will depend upon the details of what you want as the investment. We can help you through the entire process. Some investors will come to the area to purchase and we have some that make offers through us long distance.

Once your offer to purchase is accepted, a title company will handle the escrow and search for title issues. As mentioned in another answer -you will be required to present at time of closing a passport from your native country or a copy of your entry visa. Foreign nationals purchasing properties in the US are required to pay a % of the sale when the property is sold. You should talk to a Real Estate Attorney to see if it is in your best interest to have a LLC and get a tax ID number... this process can take some time so you will want to discuss this at the start.

If you are wanting to have an investment that you personally can also use when visiting, you can post a calendar where you have a vacation home that people will book for period of times and you will have the times you want to be in the property blocked out.

We would need to go over your specific needs to really help you further.

Best regards,

Brenda
Ron & Brenda Cunningham
602-980-3133
*** Recognized in the Phoenix Business Journal as "One of the Top 50 Realtors in the Valley" ***
0 votes Thank Flag Link Tue Dec 20, 2011
First of all, you need to know your goals for investing. Right now you will want good cash flow, but also potential for equity growth. There are opportunities in all price ranges but right now anything under $100,000 is selling very quickly and you must be aggressive and ready to act quickly in your search. That's something I do with my investment buyers; it requires you to be focused on the type of property, location, and price. There may be several options of course and you may be looking for multiple properties. Right now the least expensive properties are starting to edge up slightly in price and many are selling within days, with multiple offers received.

Before you make an offer, you'll want to know what comparable properties are renting for, whether or not there are any rental restrictions (as can be the case in condo and townhome listings) and of course, whether or not the asking price is realistic.

Cash is an advantage, obviously, but if the listed property is a short sale, it will still mean a lengthy approval process from the seller's lender(s) so if you are in a hurry, I'd focus on bank-owned, HUD homes, and conventional resales. Auctions are also a possibility but it depends how high a level of risk you are willing to take.

As an investor myself, I'm familiar with the issues of property management and so on that need to be addressed so you can take care of them after purchasing. Obviously there is more information you need than can be written in this forum, and I can address all your questions.

Good luck and feel free to contact me,
Ann Griffin
Prudential Arizona Properties
480-789-9584
ann.griffin@pruaz.com
0 votes Thank Flag Link Tue Dec 20, 2011
Foreign Investor,

I can be of help and would like to answer any questions you may have!

Creating Success & Wealth Together!

Albert Murietta
Real Estate Expert/ Active Investor

Email: amurietta@gmail.com
0 votes Thank Flag Link Tue Dec 20, 2011
Arizona Home Buyer,

As an advisor, I would like to know if this property will be for personal use (2nd home) or for investment (rental for example). The reason for wanting to know is your level of risk from lawsuits and the tax implications.

If a 2nd home, owning the property in your own name is typically preferable, whereas an entity may be preferrable for and investment property. The type of entity will vary depending on your home country.

There are also tax issues. If a 2nd home, there will be no income tax reporting until you sell the property. If it is an investment, there will be annual income tax reporting and withholding issues to address. You will need tax identification numbers for yourself and the entity, if any.

You will also need to complete a government survey form BE-15.

Check out my book at the link below.

Dale
0 votes Thank Flag Link Tue Dec 20, 2011
Hello,

I have access to daily inventory purchased at the Trustee Sale on a daily basis, that would meet your investment goals. Please contact me for a free consultation.

Thank You!

Chad Prull
Licensed Realtor
Fisher Realty
--
M: 480.433.7321

F: 602.926.2723
--
W: http://cprull.valuedagent.com/
F: https://www.facebook.com/chadprull.realtor
B: http://chadyourphoenixrealtor.blogspot.com/
0 votes Thank Flag Link Mon Dec 19, 2011
I work with a lot of foreign investors paying cash and purchasing homes in Arizona. If you'd like some advice, feel free to call me at 602-574-1111 or email me at neilbrooks@cox.net and I'll be happy to help.
0 votes Thank Flag Link Mon Dec 19, 2011
Buying property in Phoenix Arizona is more difficult than ever, even with CASH. I have been working with a few REITs for the last year purchasing property with Cash, and over the last four months inventory has shrank significantly. However, please let me know what sort of prices points and returns you are looking for and it would be my pleasure to help.


Jonathan Silva
818-522-1006
0 votes Thank Flag Link Mon Dec 19, 2011
That is a complicated question for this type of forum. What type of property are you looking to purchase? What are your investment objectives? Are you a new investor? My practice focuses on helping investors find properties that meet their stated goals. I would be happy to do a free consultation with you to see if I can be of assistance.

Fred Shocklie
Owner
MoreChoices Real Estate LLC
602-330-1840
Web Reference: http://www.morechoices.net
0 votes Thank Flag Link Mon Dec 19, 2011
Hello,
I work with many foreign investors and the process to buy here in AZ is very simple. Please contact me and I can go over the process in more detail and answer any questions you may have. I can also send you a copy of the Arizona purchase contract and other helpful information. I have a great listing in the 85032 zip code that you may like. My website is http://www.hotscottsdalehomes.com where you can search the MLS as well as find market statistics and helpful information.
Thanks,
Casey
0 votes Thank Flag Link Mon Dec 19, 2011
Hi, I can send you a list of properties I have that already have renters if you are interested.
Web Reference: http://www.kw.com
0 votes Thank Flag Link Mon Dec 19, 2011
I can provide a turn key process for investors. From aquisition, rehab, flip or rental. Feel free to call me directly. Located in the Phoenix. Excelllent returns paid for private money (10% APR + 10% PROFIT)
Vicotr Gustafson
Keller Wiliams
GRI, CSSN
480-586-4376
JustConsiderItDoneInc@yahoo.com
0 votes Thank Flag Link Mon Dec 19, 2011
I would recommend getting with a local buyer's agent in the area you wish to purchase. Please let me know if you wish to connect with an agent in a certain area and I can recommend an agent through our referal program at Coldwell Banker.
0 votes Thank Flag Link Mon Dec 19, 2011
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