I am originally from England and have just found out recently about tax implications for "Foreign Buyers" the tax is called FIRPTA, Foreign Investment in Real Property Tax Act, you will need to ask your Mortgage Adviser or Real Estate Lawyer about this tax law, they can be significant depending on the price of the home.
Good Luck buying your home!
You sure can and depending on if this will be an investment property or one that you will be occupying yourself will depend on the downpayment situation. Last month I had a doctor from Africa purchase a home in the area (he was not a citizen) and had absolutely no problems.
It would be best to have a local lender that is astute with our local laws and practices regarding your transaction. Lenders from other parts may not be aware of certain things and it will only create stress into something that can be so seamless.
Let me know if I can be of any service to you and best wishes,
Definitely. The US government is very welcoming to foreign buyers. Normally, to finance you will be required to provide between a 30 & 40 percent of the selling price deposit.
Our recommendation is to begin by making financial arrangements. Some of our Canadian buyers have made financial arrangements through their Canadian banks prior to shopping for their home in the US. We have even found Canadian bank branches that worked out nicely by not requiring the higher percentage of deposit money.
This is a great time to be considering buying in the US and taking advantage of the savings that exist in today's real estate market.
Begin with clarifying your financial piece and then identify an agent that will work with you keeping your specific criteria in mind.
The Eckler team
The Pfund Group
Keller Williams Realty