Hi I am from the UK but would like to buy a property in Beverley Hills probably by auction. Are there any special requirements for a non US Citizen?

Asked by suzy, Beverly Hills, CA Tue Dec 31, 2013

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9
Douglas Lagos, Agent, Los Angeles, CA
Tue Dec 31, 2013
Susy,

I work with many buyers from the UK. Auctions are presently going at or over fair value price. Pretty much like a normal sale. I've personally done investment properties for the past 12 years, and that helps me in guiding clients when they are looking to invest. I know what to look out for, what works, and what does not.

If it's a home for personal use, that's easier! Just find a home that you fall in love with and has all, or most of the things you want. Still, an experienced agent in Beverly Hills is a must.

Check the URL link below for up to date properties for sale.

Cash is king, and it helps you get better deals, except for auctions, where final price dictates who wins the auction.

Most of my UK clients buy cash, but some have obtained financing. Financing for a non-US resident takes longer than common. So, if you'll be taking a loan, you'd need to have your loan documentation started at least 45 days prior to the auction, to be pre-qualified.

Douglas Lagos
(310) 463-8088

Coldwell Banker Residential
CalBRE# 01921046
1 vote
inna ivchenko, Agent, Calabasas, CA
Sat Aug 16, 2014
Hello Suzy,
it is quite easy to buy a property here. Choose the agent you can trust, the property you think is matching your criteria, and.....the rest your agent will help you with. We can do the whole process from the very start to closing via emails using digital signatures( you don't even need to be in the country). We need your name( exactly how it will be on the title of your property) and POF( proof of funds if you pay all cash).
Call/email me if you have further questions. I've done it many times and would be happy to share my experience or offer my assistance.
Warmest regards,
Inna
0 votes
Zane Widdes, Agent, Agoura Hills, CA
Fri Aug 15, 2014
if you don't want to go "all in" with your cash... I have a seller that may carry the loan.
if you want to go to the auction with me let me know; its an interesting process. Homes@ZaneWiddes.com 310.9093609
0 votes
Jean-Leon Ma…, Agent, Tempe, AZ
Tue Dec 31, 2013
Make sure you understand FIRPTA , a quick google search should return the basics. Good luck !
Web Reference:  http://sellquickAZ.com
0 votes
Mario Pinedo,…, Agent, Cupertino, CA
Tue Dec 31, 2013
Suzy,

I'd love to help. Our office is located in Beverly Hills and we can definitely help you with your purchase.

Mario Pinedo, CCIM
Mortgage Banker
CS Financial
http://www.HomeLoans.LA
http://www.HouseLoansLosAngeles.com
http://www.CondoLoansLosAngeles.com
http://www.Facebook.com/HomeLoans.LA
BRE Broker 01118365
NMLS 1029116
Office 424-249-7434
Cell 415-269-6249
mpinedo@csfinancial.com
Twitter @mariopinedo
Web Reference:  http://www.HomeLoans.LA
0 votes
Madelaine Ko…, Agent, Los Angeles, CA
Tue Dec 31, 2013
Hi Suzy, no restrictions most of New York is owned by the UK. How are you paying? If it is cash you have no problems but if you are going to try and get a loan not working here in the US may cause some problems on qualifying for a loan. Most Auction properties are going out at Retail prices because of the fact that there are many investors buying at auction. You have to pay cash and you do not get to see the property before purchasing or do any inspections. You can get great deals from using a Realtor.

Kind Regards,
Madelaine Kolisnyk - Realtor Los Angeles, CA
310.869.1712
http://www.madelainek.com
0 votes
Shannon Chang, Agent, Arcadia, CA
Tue Dec 31, 2013
Why by auction? Don't you want the best deal you can get instead?
That being said, it depends on how you are going to pay. All cash, financing, etc? Of course there are different tax implications depending on your situation, so it is advisable to also consult an qualified accountant.
Regarding the actual purchase, work with a local Real estate agent you can trust is the best advice I can give you.
0 votes
Susan Bo'ur, Agent, Manhattan Beach, CA
Tue Dec 31, 2013
Good morning Suzy,
Ip lease contact me directly. I do know of a property that will go to auction, however; the owner is willing to show it as a pocket now.
Knowing your criteria is most important
I look forward to hearing from you.
Best,
Susan Bo'ur
Realtor/Coldwell Banker
Susan@BeverlyHillsLuxuryFlats.com
0 votes
Ann Ryan, Agent, Doral, FL
Tue Dec 31, 2013
You can buy anywhere in the United States with almost no restrictions. (There are a few restrictions about buying missile factories, for defense reasons).

Make sure you understand FIRPTA taxes, which apply when you sell the property. (See link)
0 votes
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