It normally takes 30 to 40 days to close a financed transaction, once you have an accepted offer/contract. Some banks can close in 25 days.
You can get a prequalification from a bank in a day or two if you have all of the required documents ready. Need to speak to a lender and get their requirements.
Finding the right property will be the question. Hopefully in one to two weeks you would have seen enough properties to find at least one or two that are to your liking. After that you place offer. The time response to an offer will depend if property chosen is a regular sale or a foreclosure or short sale. Regular sales are much quicker, taking just a few days to accept and be under contract. Foreclosures can take a week or more to respond, and short sales may get you a quick response but unless the property was already approved by the bank, the process to negotiate a short sale is normally 90 days.
Any further questions pls e mail me at firstname.lastname@example.org or via phone 786-853-3347.
My name is Mari C Rodriguez. I am a Realtor, Loss Mitigation Specialist plus hold other designations in the State of Florida. Have been licensed for almost 10 years.
You can purchase in US even if you are not a citizen. Most banks are requiring a 40% down from foreing buyers. This means you will need to have 35% or 40% cash down payment of the value of the property. The rest/difference you can finance.
Fist step should be to get a pre qualification from a bank to see what you actually qualify for. It will depend on your income and assets. Actually you can get a pre qualification or qualification from a Canadian bank with branches in US or any US bank that you bank or do business with . I know that Royal Bank of Canada, Canadian Imperial and a few others have branches in Florida and actually RBC has one a few blocks from me. You also have big US banks such as Chase, Wells Fargo, Bank of America, etc, plus smaller banks and direct lenders that work with foreing buyers. When you go in to get the prequalification for purchase they will inform you of all the documents needed in order to purchase in the US. The requirements are pretty much the same for all banks but they may have small differences in between them.
I could help you with the pre qualification process, and to find a property that adheres to the amount qualified for and your needs. I work with many investor both foreing and domestic.
Here is information on two smaller lenders that work with many foreing buyers and do a great Job. They are quicker to respond and their appraisers know their market area very well. Let them know that I recommended you.
Supreme Lending - Bonnie - mailto:email@example.com 954-278-3423 - 954-317-2763. Also Element Fundings - Bill - firstname.lastname@example.org 954-536-7587
If I can be of further help, pls call me at 786-853-3347 or e mail me at email@example.com
I can help if you are purchasing a property over 200k
100% LTV- VA
100% LTV- USDA
99% LTV- FHA/580 score @ lower LTV
97% LTV- NO PMI
97% LTV- CONDO- NO PMI
90% LTV- 2nd Home- NO PMI
90% LTV- JUMBO- NO PMI
85% LTV- Super Jumbo- NO PMI
80% LTV- Invest. /Rental
80% LTV- Foreign Nationals
70% LTV- Manf. Homes over 90k
STATED INCOME ALT-up to Super Jumbo
90% LTV- Short Sale, BK, Foreclosure Forgiveness
80% LTV- FIX nâ€™ FLIP Invest. Prop.
75% LTV- Foreign Nationals
70% LTV- Soft and Hard Money
Pro Option Mortgage/ Florida
Ph: 888 662 4404
Prior Service: U.S. MARINE CORPS
To qualify for a USA mortgage, you will need proof of assets and income from Canadians banks/employer, etc.
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Meir Aloni & Team
CRS (Certified Residential Specialist)
CDPE (Certified Distressed Property Expert)
RECS (Real Estate Cyberspace Society)
Successfully selling Broward County since 1986!
The first step should be figuring out financing. Because you are Canadian, I'd suggest you talk to both TD bank, and to at least one regional bank (Suntrust, Regions). There will definitely be options available.
If you were paying cash, you could close in as few as 15 days. With financing, it will be longer. Hopefully 60 days, but sometimes the banks take longer.
Make sure you understand FIRPTA (the taxes that apply to foreigners when they SELL property in the United States.)
There are a lot of great homes available in Hollywood.
If you would like to speak to a mortgage consultant, I would be happy to provide this accomodation to you. You are looking for a foreign national loan.
Susan Penn, PA, SFR
2000 Main Street
Weston, FL 33326