Home Buying in Newburyport>Question Details

e.royston, Other/Just Looking in

how do I buy from abroad?

Asked by e.royston, Sun Aug 8, 2010

I am a permanent UK resident (the term in the UK is 'domiciled) but still hold an American passport. would I have any particular difficulties buying in the US?

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5
Bill House’s answer
I recommend finding an agent you feel comfortable with through communication via email &/or phone. Define the criteria that you want that agent to use in the search. Review the available packet of information the agent sends to you. Work with your bank in the UK to begin the preparation process to secure a US loan. Have your US agent reach out to mortgage processors on your behalf.

Let me know if I can help,

Bill
0 votes Thank Flag Link Sat Oct 23, 2010
give her lots of compliments...
0 votes Thank Flag Link Mon Sep 23, 2013
I am working with a Foreign National buying investment property in the US, the buyer resides in India. I have a lender contact that requires no US credit nor any verification other than a valid passport for entry in the US. The terms of financing is 50% down payment. The interest rate and terms of the mortgage loan depend on your intended use of the property. If I can be of any further assistance, then please contact me directly.

Best of luck

Eric
0 votes Thank Flag Link Tue Aug 17, 2010
Anybody is welcome to purchase property in America. Financing, however, is where foreign buyers encounter difficulties as different lenders have different lending requirements. Would you be needing a mortgage?

Please correct me if I'm wrong but in order to have an American passport you would have had to at one time had American citizenship.

I am a member of FIABCI/International Real Estate Federation so if I can be of any further assistance to you please feel free to contact me at elizabeth@elizabethherbert.com
0 votes Thank Flag Link Tue Aug 17, 2010
You should not... You should contact an agent in the area you would like top purchase, interview them over the phone and hire them as your buyer broker. there should be no extra cost to you as they get paid their commission from the listing agent the fee offered in MLS and paid at closing.

This way they can search and even preview properties for you. When you come to look and purchase, they can guide you through the process and make sure you have all the paperwork and items you will need to buy given your status.

good luck with your purchase.
0 votes Thank Flag Link Sun Aug 8, 2010
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