Question Details

Sue Hall, Home Buyer in Westrn Australia

Hi, I live in Australia and was wondering if I can purchase in the USA and what information I would need?

Asked by Sue Hall, Westrn Australia Sat May 17, 2008

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4
Sue,

Yes, you most certainly can purchase property in the US as a foreign national. As a matter of fact the US government encourages foreign investment and places no restrictions on the purchase of residential property.

There is, however, one restriction for the sale of property owned by a foreign national that requires 10% of the sale price to be held back until all taxes have been paid. The balance is then returned to the seller.
0 votes Thank Flag Link Sun Mar 8, 2009
Hello Sue,

Yes, as the other agents have mentioned, Australian citizens are certainly allowed to buy real estate in the USA, and now is an excellent time purchase. This is due to not only the recent decline in property values here, but also the favorable exchange rate.. Following is an article you may find useful regarding this topic:

http://ezinearticles.com/?How-a-Foreign-National-Can-Buy-Rea…

I am an agent with Coldwell Banker here in Los Angeles - our company has a global presence and we have over 30 locations in Australia.. If you are interested in finding out more of what is available, please email me at johnbarry789@yahoo.com, and I would be more that happy to chat with you & help you further.

Cheers, hope you have a wonderful day!

John Barry
Coldwell Banker Residential Brokerage - Sherman Oaks, CA
0 votes Thank Flag Link Sat Mar 7, 2009
YES! I am an new agent and my goal to close on one deal in March and do it quick. I can email you a list of why now is a good time to buy too. Just let me know. -NNA
0 votes Thank Flag Link Sat Mar 7, 2009
Absolutely! There aren't requirements of citizenship to purchase, but if you need to get financing, it may be a little more difficult if you are not a US citizen. If you have cash, basically any individual or corporation can purchase.
0 votes Thank Flag Link Sat May 17, 2008
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