Question Details

Jake Roberts, Other/Just Looking in San Diego, CA

What is the requirement for buying a house in another state?

Asked by Jake Roberts, San Diego, CA Sun Oct 21, 2007

My husband and I has good credits. And we were wondering what is the requirement for buying a house in another state. We were planning to move to Texas and buy a house there. I mean the question is do we have to move there to stay for a few months and then we could buy a house just to establish our employment? Or can we just buy the house from California and then move over to live?

Help the community by answering this question:

Answers

6
my mother want to move back to nc her income is under 10,000 dollars a year and i would like to help but i have more then 2 late payment on my credit so how can i help her my sister credit is also the same , we can help with the monthy payment but we can't help with getting her in the house
0 votes Thank Flag Link Thu Feb 12, 2009
Option #2..people do this all the time. We have folks from California that buy a condo or house in the French Quarter until they retire, or start a business here.
YOu can buy a house from anywhere...you really need to find a mortgage broker in Texas closer to where you are considering to see all of your options. Also, consider the insurance factors if you are looking close to the coast, and flood insurance on the south / Gulf side of Texas..Houston to Brownsville.
Web Reference: http://iansellsnola.com
0 votes Thank Flag Link Mon Oct 22, 2007
Hi Jake, I suggest you consult with a local mortgage broker in Texas who will be able to answer your questions. I do not see why you should have any problems but your mortgage broker will let you know what you need to do to get approved by the lender. I wish you the best.
0 votes Thank Flag Link Sun Oct 21, 2007
There are some additional requirements when the buyer is from out of the country. There are no special requirements for a US resident buying in various states.
0 votes Thank Flag Link Sun Oct 21, 2007
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
Contact
There is no requirement in buying in another state; so you can go ahead and buy a house there now, then move there.

I think the only thing is whether this will be your primary residence or not. The interest on the mortgage might be higher if you are getting an investment property.

Just make sure that you have a local real estate pro's help so you get familiar with the area, purchse the house you like and do due diligency to make sure there is no surprises.

Sylvia
0 votes Thank Flag Link Sun Oct 21, 2007
Sylvia Barry,…, Real Estate Pro in Marin County, CA
MVP'08
Contact
There is no requirement to purchase out of state except to be able to qualify for a loan if you are not paying cash. Your lender will want you to be gainfully employed. If you are not going to live in the property you will need to have the means to pay for it.
0 votes Thank Flag Link Sun Oct 21, 2007
Pam Winterba…, Real Estate Pro in San Ramon, CA
MVP'08
Contact
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer