Home Buying in Philadelphia>Question Details

Rb888, Home Buyer in Philadelphia, PA

Is there any foreign ownership restriction in buying US properties? Will there be any additional taxation?

Asked by Rb888, Philadelphia, PA Tue Jun 7, 2011

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Hello Rb,
you can buy the property in US. You have to wire the funds to the US bank.
You will have to pay transfer taxes and title charges with recording fees.
These are standard fees for all the US buyers.
You would have to maintain the house, pay RE Taxes and utility bills.
I can help you to buy in Phila and Suburbs. Feel free to contact me.

Lilly Rubarkh
Re/Max Eastern,
Re/max Hall Of Fame
215-431-7913
LillyRubarkh@yahoo.com
0 votes Thank Flag Link Tue Jun 7, 2011
Rb,

From the purchasing stand point there are no restriction for purchasing residential property and the US government encourages foreign investments. However, on the selling side, FIRPTA regulation require a percentage of the sale price of the home be withheld until all debt/liens associated with the property have been cleared.

Good luck,

Bill
0 votes Thank Flag Link Tue Jun 7, 2011
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