I'm from Argentina, I'm planning to buy a house in NC, and I know everything is fine for me. I want to know what I will face if I want to sell it in the future. Thanks !
Buenos dias! Congratulations on your decision to be an owner!
Once you have purchase the home, the law requires that all documentation be in order for you to be the owner of the property. You will receive a Deed that is recorded in the county where the property is located.
Once you have closed on the property, you can live in it, enjoy it, perhaps rent it in the future, and sell it at any time as long as payments to your Lender are received as per agreement of the loan.
You should not have any problems selling your property. This is America. The land of the Free.
Go and get a piece of the rock. It is the American way! Good luck.
cContact me if you have any additional questions. 910-988-1300
Zeke, no you will not have any problems when it comes time to sell. Strongly recommend you use a Real Estate Broker/Firm to ensure all documentation is complete and follow up with your status (change of address) with USCIS. Best of luck to you. Steve
Where are in Fayetteville are you looking to purchase in? I have a home in Fayetteville that I'll be putting on the market in a few weeks in a very good neighborhood.
Hi Zeke:
There is no restriction on selling a home by a foreigner. The only thing is that IRS will require the buyer / escrow company to withold 3 1/3% of purchase price before distributing the rest of the sales proceeds to you. The money will be returned to you after you file your income tax on the sale of the home.
Great idea - this is a wonderful time to buy and hold.
Best,
Sylvia Barry
Marin Realtor
The factor of you being a foreigner means nothing. As a foreigner you may get a better loan than the locals. I have had buyers from mexico come here and buy property. The rules are a little easier most of the time. I think it is because the area wants you to pay some taxes, so they make it easy for you to buy property. You may have some restrictions on selling it, but the fact that you are a foreigner still will not matter. It will depend on all the factors that everyone else will face with there own properties.
The answer of course depends on several factors. Generally speaking though, any restrictions the land has on it when your purchase it stay with the land. In other words, when you sell to the new owner, they will be required to adhere to the same restrictions that you had.
For instance, if there is a restriction that no mobile homes may be placed on the property, they restriction will remain in the future.
Didn’t find what you were looking for? Ask a question!
|
|
|
|
|||||||||||
|
|
|
|
|
|