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Home Buying in 22202 : Real Estate Advice

  • All31
  • Local Info4
  • Home Buying15
  • Home Selling0
  • Market Conditions1

Activity 15
Mon Jul 6, 2015
Amelia Robinette answered:
Your money needs to be in a US bank. You can contact any bank on their procedures to transfer funds into the US.
0 votes 1 answer Share Flag
Mon Aug 26, 2013
Alan May answered:
Ownership of a property in a foreign country, is not a promise that you'll ever be allowed to visit that country. They are separate issues. Only you can decide if you're willing to take that risk. ... more
0 votes 3 answers Share Flag
Mon Jul 15, 2013
Mahavir Singh Solanki answered:
i am an indian n want to purchase a house in usa what are the laws n documents we need to purchase house in usa?
0 votes 8 answers Share Flag
Thu Mar 14, 2013
Joe Hurley answered:
Do you need to sell your house in order to buy the short sale? The safest route would be to acquire the new home first and then sell the current house.

(If I was representing the short sale seller, I wouldn't take a contract that was contingent on the seller selling his house after final approval. The approval is only good for a certain amount of time and if there were any complications with your side, the short sale seller could be sunk. Extensions are usually granted, but there is no guarantees.)

If buying without selling is not an option and you move forward, be very careful to protect your deposit and right to void the contract. Once that approval is given and you sign off on the third party approval, you need to perform to the contract and seller can go after the deposit if you go into default.

Overall, get a game plan together with an experienced agent you trust. They will make sure you are covered. Contact me if you would like.
... more
0 votes 6 answers Share Flag
Tue Jan 8, 2013
Marianne Prendergast answered:
The Prendergast Team, Agent, McLean, VA
Hello Sir,

We deal with many non-citizen investors (most like high end). We can provide referneces but look at our website and you will get an idea of how we are the best.

Call me or email me tomorrow at 703.434.2711 or Will@Theprendergastteam.com

Look forward to talking!

Will Prendergast
... more
0 votes 2 answers Share Flag
Thu Aug 16, 2012
Sony Kim answered:
You need to really know Florida before you buy. Vacation home? or just investment for residential / commercial? Work with a Commercial Pro to look at future value not just present value (market value) and take it from there. Also talk to an international attorney your end to advise you before you trust and start working with somebody. Need a local attorney on the U.S. side too for your safety.

Sony Kim
Associate Broker
Keller Williams
6820 Elm St
McLean, VA 22101
703 244 3997
sony_kim@msn.com
... more
0 votes 3 answers Share Flag
Thu Aug 16, 2012
Sony Kim answered:
I would purchase in northern virginia because the market is going up and stable.
Government Offices in D.C. and Pentagon is in Virginia. The FED (Government) is in this region.
I hope you understand what that means. And yes, you can invest but would have to go through international investment procedures unless you have a local person that can work on your behalf.
I would work with a local lawyer here and you need an international lawyer your end.

Sony Kim
Associate Broker
Keller Williams
6820 Elm St
McLean, VA 22101
703 244 3997
sony_kim@msn.com
... more
0 votes 3 answers Share Flag
Tue Sep 13, 2011
Todd Lewis answered:
Dear AP9ch9:

The answer to your questions is; maybe. The issue is really; where will you get the home loan and will the bank know that you are not a citizen?

I am not aware of any law which would preclude you from purchasing a home in the US while on a visitor visa. Having said that, even though you have the ability to purchase the home in the US, why would you purchase a home in the US without a guarantee that you can obtain another visa?

With regard to the home loan, it is likely that a lender will not want to loan you money if they know that you are on a visitor visa, soon to expire.

I hope this helps.
... more
1 vote 2 answers Share Flag
Fri May 13, 2011
... answered:
Hi Rohit

Yes, of course! You may wish to transfer the funds ahead of time to have them available in a US Bank in US Dollars.

Tom
0 votes 7 answers Share Flag
Thu Feb 17, 2011
Mack McCoy answered:
Yes, absolutely. You do not need to be a resident or a citizen to buy real estate in the USA. However, there are tax considerations that come into play; your B-I-L really should consult an accountant both here and in the home country with a strong real estate and investment background.

All the best,
... more
1 vote 1 answer Share Flag
Mon May 24, 2010
Sharon Jones answered:
Michelle:

Being a licensed Realtor in DC, MD and VA, also certified in short sales and foreclosures (SFR), I have worked with Buyers in Alexandria, Rockville and Silver Spring.

The first thing you need to do is obtain approval for a loan from a reputable lender, which I can help you with. This enables you to know how much house you can afford, and puts you in a strong position when you're ready to write a Sales Contract.

Secondly, consider your commute from all 3 areas to where you work. Perhaps test drive during peak hours to check traffic volume, which may influence your search for a home.

Thirdly, do you have family or friends in any of the 3 areas? Often Buyers prefer to live close to those they know.

Finally, choose a Realtor who cares and whom you can trust, also someone you can enjoy spending time with! A Realtor who is prepared to take time to help you find the perfect home, and not rush you into buying the first property you see. Also, a Realtor certified in short sales and foreclosures because there are so many of these on the market, and the specialist knowledge and advice will benefit you.

I hope this is helpful, and good luck!

Sincerely,

SHARON JONES
REMAX DISTINCTIVE
SHARONJ2@REMAX.NET
202-415-1397
... more
0 votes 13 answers Share Flag
Sun Oct 4, 2009
Saab Realtors answered:
I don't know of any restrictions on foreignors buying here , unless u have problems withhomeland security.
Mortgage is a different issue.
But u can get 50% down mortgages.
U need to talk an expert loan officer on this.
I know Nabil at 703 288 0777 has worked on some cases like these.
rgds,
Ramesh Chandra 703 635 8209
mepcigroup@gmail.com
... more
0 votes 4 answers Share Flag
Wed Jun 10, 2009
John Mentis answered:
What does your contract say? That is, does the contract allow you any recourse if the appraisal doesn't come in at the sales price of above? If the contract does allow you action, then follow it. If the contract doesn't allow you to get out, then you've potentially got a big problem.

Who's doing the financing on this? Is the building giving you the loan or are you using a preferred lender?

It's a little hard to give you addition, concrete answers without knowing the specifics about your deal. I'm presuming you didn't use a real estate agent to help you make the purchase.
... more
0 votes 6 answers Share Flag
Wed Jun 10, 2009
John Mentis answered:
Alex, if you're using buyer representation to make his purchase, your agent should be able to do a little research for you to give you some idea of the building in 22202 are paying for a unit of the same size and utilitiy (e.g., 2 bed/2 bath) as yours. That's the most straightforward way to do it re. comparing this fee to other buildings in Pentagon City and Crystal City.

As to whether the fee is warranted, you need to check your need to check out what's being covered by the fee and how the association is managing its budget. Take a look at the condo docs (re-sale package) that the sate of Virginia requires all associations to give to people who are buying into a condo assn. or HOA.
... more
0 votes 12 answers Share Flag
Thu Dec 4, 2008
Bess answered:
One observation - everyone who responded seems to be a real estate agent, and their response is basically "Oh, that's too bad." If you want to know for certain, consult a lawyer.
0 votes 6 answers Share Flag
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