I am from Canada, I would like to know about the laws forf foreign people. I live and work in Miami for an American Co.

Asked by Aurina, Aventura, FL Thu Jan 20, 2011

I want to buy an apartment close to $ 100.000. I have credit.

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8
Sean Hess, Agent, Saint Augustine, FL
Mon Jan 24, 2011
Two issues here: if you own a US property how long can you use it, and what are the taxes you will pay.

Immigration law allows a foreign nationals in the U.S. to stay between 90 to 180 days at a time, and if you don't require a visa for the first 90 days you will need a visa if you plan to stay longer. If you want to stay longer than 180 days you will have to apply for an extended stay visa.

There are many different types of extended stat visas. Some visas allow you to stay in the U.S. for many years, some for just short periods. Some visas cover your spouse and children, some do not. Some visas require a long wait, some can be had in a few months. Some visas are employment based, some are family based. We can put you in touch with qaulified U.S. Immigration attorneys to help you find your best option if you wish .

Second: you will pay taxes. Property taxes based on the value of the property (paid yearly). And witheld income taxes if you rent the property, or stay in the US longer than 182 days over a three year period.
0 votes
Catherine Kim…, Agent, Hallandale, FL
Fri Jan 21, 2011
Your question is a little broad...are u talking foreigners in regard to real estate law; financing; immigration? There are so many issues.

As far as financing as a foreign nat'l, if you have a bank acct in the us, have a green card, which I assume u do since you're working, there should be no problems except lenders might want 30% down...it all depends on the individual numbers/risk. If you were to ever sell later, you would need to keep 10% of purchase price in escrow to pay your taxes. You'll need your passport, green card copy, and your driver's license. If you're not a permanent resident, you will need a letter fr your foreign banker and a letter of reference.

If you work for an American co., are they sponsoring you to help you get permanent visa? If you need an immigration lawyer, I can recommend a good one. I also can refer a couple of good real estate lawyers, as well.

If I can be of service, let me know. I'm a realtor, mortgage broker, and property manager near Aventura.
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Katz Realty…, Agent, Parkland, FL
Fri Jan 21, 2011
That is a pretty broad question, but if you are inquiring about the legality, there should be no issues, especially if you already work in Miami. I just closed a deal with a canadian investor and would be happy to help you further. feel free to give me a call or send me an email. James Katz (305) 992-6750
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Mott Marvin…, Agent, Sunny Isles Beach, FL
Fri Jan 21, 2011
Aurina~

I am not 100% sure, but I believe that the laws for foreign people and non-foreign are the same... There are many condominiums below $100 - contact an agent and start your search.

The link below will help narrow your home search.

WATERWAY REALTY, REALTORS®
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William True, Agent, Sarasota, FL
Fri Jan 21, 2011
Your best bet is to speak with an attorney who specializes in these matters. Real Estate agents are not qualified or in legal capacity to answer this question unless they happened to have passed the Florida Bar.
Web Reference:  http://truesarasota.com
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Joe Robaina, Agent, Coral Gables, FL
Thu Jan 20, 2011
Hello Aurina, I work almost exclusively with foreign investors and even though I am not yet aware of your particular qualifications, I can tell you that in most cases there are no major issues with purchasing property in the US as long as you can comply with certain basic parameters.
I would be glad to discuss your situation with you in person at your convenience.
However, if you would prefer to speak with an attorney, I have have found Nicola Lampariello at Exclusive Title to be quite knowledgeable in these matters as he handles the legal aspect of the transactions for almost all of my customers. His phone number is 305-682-0170.
At your service.

Joe Robaina
305-785-0460
Web Reference:  http://www.jrsellsmiami.com
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, ,
Thu Jan 20, 2011
If you have a 2 year established credit history, and have been working for 2 years, you will be fine. I am sure you have one of the acceptable work visas that give you the same rights as a citizen when it comes to loans.
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Marina Stepe…, Agent, Aventura, FL
Thu Jan 20, 2011
Hi, I just sold a condo in Aventura to a canadian. It was a foreclosure, everything went fine. Do you think you will need a mortgage? Please call me at 561-685-0110 or email at mstepensky@yahoo.com and I will answer all your questions.

Thanks,
Marina Stepensky
Brosda and Bentley Realtors, LLC
0 votes
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