Home Buying in Chicago>Question Details

Marsha Fuller, Real Estate Pro in Chicago, IL

non-resident, non-citizen purchasing in US

Asked by Marsha Fuller, Chicago, IL Fri Oct 5, 2012

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14
We've sold a lot homes to foreign buyers but it's always been with cash.
1 vote Thank Flag Link Sat Oct 6, 2012
Hi Marsha,

If you are looking to purchase then flip familiarize yourself with the capitol gains tax.

Regardless if it is cash or financed, even though financing may be mor difficult but not impossible, you should speak with a financial advisor that can leverage your cash for financing.

Good luck & feel free to call me if you're interested in learning more about leveraging.
0 votes Thank Flag Link Sun Oct 7, 2012
A bit more involved to get financing. However, definitely possible. I would recommend buying a home that could be an investment property in case one has to leave the country. Easy rentability is key!

Best,
Nick Gandhi
Equity Capital Real Estate
(203) 280 3838
0 votes Thank Flag Link Sun Oct 7, 2012
I have purchased my first home in TX being a H1B visa non resident alien. Please let me know if you would like to know more. The process is a little complicated but "doable" ;-) happy buying !
0 votes Thank Flag Link Sat Oct 6, 2012
Its's possible but cash may be your best option.

Good luck!

Jose Hernandez
Coldwell Banker
312-788-7079
0 votes Thank Flag Link Sat Oct 6, 2012
Cash is King! ...with financing it will be a bit more difficult.
0 votes Thank Flag Link Fri Oct 5, 2012
If you have cash, then yes. If your looking to finance, it depends. I would speak to a lender at that point.
0 votes Thank Flag Link Fri Oct 5, 2012
Hi Marsha!

There are plenty of non resident, non citizen property owners in the U.S.
What type of property would you like to purchase? Do you have a specific property in mind?
Please let me know what you have in mind, and I will be happy to help.
Patti McDonald
Fresh Horizon Realty
312-450-8729
patti640@yahoo.com
0 votes Thank Flag Link Fri Oct 5, 2012
If you are looking for financing then there are some options we can help you with. If your question is about the legality of purchasing a home then you do not need to worry. As of now there is no law preventing you from buying a home in the US. If you need more help feel free to contact me. Good luck
0 votes Thank Flag Link Fri Oct 5, 2012
Marsah,

How can I help you achieve your goal?


Sohail A. Salahuddin | Group Founder

Innovative Property Consultants Group | Sales and Leasing

http://www.innovativepropertyconsultants.com



Jameson Sotheby’s International Realty

425 W. North Ave. | Chicago, IL 60610 


O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030

"Locally Known, Globally Recognized"
0 votes Thank Flag Link Fri Oct 5, 2012
There are a few lenders that will give loans I am told, but cash always works.
0 votes Thank Flag Link Fri Oct 5, 2012
Hi Marsha,
If you have an acceptable work visa and at least an offer letter, you can obtain financing. We have a program specifically for professional immigrants. If you have questions, please send me an email.

Thank you,
JP


JP Marzano
Chicago Financial Services
jpmarzano@cfsmortgage.com
http://www.themortgagecall.com
0 votes Thank Flag Link Fri Oct 5, 2012
Can always be done paying cash. But in order to obtain a mortgage the buyer must have a ss#.
0 votes Thank Flag Link Fri Oct 5, 2012
Not a problem if you pay cash. getting a loan may be possible as well if they are here legally with a passport and/or visa.
0 votes Thank Flag Link Fri Oct 5, 2012
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