Can foreigners buy property in Boca Raton Florida?

Asked by alexmnicholas, Boca Raton, FL Fri Aug 16, 2013

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14
Stephen McRo…, Mortgage Broker Or Lender, Tampa, FL
Fri Aug 16, 2013
see below loan program


100% LTV- VA
100% LTV- USDA
99% LTV- FHA/580 score @ lower LTV

97% LTV- NO PMI
0 votes
Nicole Marks…, Agent, Boca Raton, FL
Fri Aug 16, 2013
Yes, Alex. People from other countries buy property in Boca Raton, FL all the time. For many, they use their real estate purchases as vacation homes or investments.

Sincerely,
Nicole Marks Mason, Realtor
United Realty Group
561-445-8743
0 votes
Nadine Mauro, Agent, Lake Worth, FL
Fri Aug 16, 2013
Hi Alex,

I have the pleasure to have sold houses to people from several different countries. It's wonderful because it also gives me the chance to learn a little about different cultures.

You can buy residential and commercial property. If you are paying cash everything should go smoothly. When you locate a property you wish to buy you simply need to prove you have the funds to buy, and a copy of a bank statement showing there are sufficient funds in U.S. dollars should suffice. If you need to obtain a mortgage my colleagues have enumerated the types of visas required to obtain a mortgage.

You will be responsible for taxes when you sell the property.

If I can be of further service please contact me directly.

Nadine Mauro
Highlight Realty
561-414-0864
NadineSellsHouses@gmail.com
0 votes
Julie Rosent…, Agent, Jupiter, FL
Fri Aug 16, 2013
Hi, Alex,
Many Florida condos and homes are owned by international owners. Please contact me for details and helpful experts. Julie Rosenthal YOUR Go To Realtor in Boca Raton .
Telephone: (561) 827-6789
Email: julier6789@gmail.com
See All Listings at
http://www.BUY-SELL-RENT-FLORIDA.com
Broker, ABR, GRI, TRC, CAM, EcoBroker
Property Brokers International
0 votes
marc jablon, Agent, Boca Raton, FL
Fri Aug 16, 2013
As realtors, we have the pleasure of selling homes in Boca Raton to foreigners on a constant basis. While most of these purchases are via cash, there are several banks in the area that will happily lend to foreign nationals.

Marc Jablon, The Jablon Team
Re/Max Complete Solutions
JablonTeam@gmail.com
561-213-6139
http://www.JablonTeam.com
0 votes
Tom Priester, Agent, Tequesta, FL
Fri Aug 16, 2013
Alex,

Foreign investment is a huge part of our market with buyers from other countries snapping up over 20% of all sales over the past 12 months. The purchasing process is very simple and no special rules that are any different than an american citizen purchasing property. When you sell there is a 10% hold back of total proceeds until confirmation is provided that any capitals gain taxes have been paid but that too is a fairly simple process.

So much depends on your unique needs and Boca Raton may be a good fit but there are other areas in Palm Beach County, or even Martin County that may be worth expiration. Your perfect home in the Florida sun and a "good deal" are out there. A very clear description of your specific requirements is the best place to start and if I can be of service to you and your family I would appreciate the opportunity to be one of the buyers agents you may choose to interview. We cover the tri-county area and are experts in finding our clients that "needle in the haystack.

Best of luck and if I can offer anything additional please let me know.



Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
0 votes
Joan Lorberb…, Agent, Boca Raton, FL
Fri Aug 16, 2013
Absolutely! Foreigners can buy in Boca Raton and anywhere else within the United States. Restrictions are very few for foreign nationals to purchase here.
Good luck and happy looking! And let meknow if I can be of further assistance to you.

JOAN LORBERBAUM MOORE
Broker Associate, GRI
Lang Realty
9858 Clint Moore Road
Boca Raton, Florida 33496
JOANMOOREREALTOR@GMAIL.COM
http://www.boca-delray-boynton.com
0 votes
Fritz Walter, Agent, Milford, CT
Fri Aug 16, 2013
Hi, from a lender point of view here are some items you may find helpful:

For a standard conventional loan here are the acceptable Visa Classifications are: E‐1, G‐2, G‐3, G‐4, H‐1B, L‐1A, L‐1B and NAFTA TN for your standard Fannie/Freddie loan.

If you need a portfolio loan because you do not fit into the above Visa classifications then there are 2 Loan to Value Tiers for Foreign Nationals:

1) 65% LTV if borrower has US Credit & Income is derived in US
2) 55% LTV if borrower has NO US Credit & Income is derived Overseas

Deal will still be treated as Full Doc. If income & assets are derived overseas, then we can provide a US Approved Translation company to Translate Language and Convert currency into US Dollars Every country has some form of Tax Returns or Pay Stubs or methods to verify income. I am a direct lender with an A+ rating on the Better Business Bureau and come highly recommended. If I can be of any assistance just let me know.

All the best,

Fritz Walter
VP of Retail Sales
Toll free: 800-359-1996 x551 Direct: 203-783-4551 Email: fwalter@totalmortgage.com Alt email: fritz@post.Harvard.edu NMLS ID: 387922 Visit my webpage: http://www.totalmortgage.com/bankers/fritz-walter/ Company Website: http://www.totalmortgage.com Total Mortgage Services, LLC - NMLS #2764 Licensed in: CT, FL, MD, NJ, NC, SC, TX, VA
0 votes
Nitza Ramos, Agent, Pembroke Pines, FL
Fri Aug 16, 2013
Hi alexnicholas,

Yes, foreigners can buy property in Florida but there is an IRS disposition called FIRPTA that refers to income tax withholding when you sell the property or purchase a property from a foreign person. You can google it on the Internet and find out more about it. Also, if you are thinking on getting a loan you might want to contact a mortgage lender as the down payment is usually higher and to find out what the requirements are. If you need additional information please call me. Thank you.

Best regards,

Nitza Ramos
Realtor & Community Assoc. Mgr.
East Coast Realty Group
Direct: 954-856-3156
E-mail: ask4nitza@yahoo.com
Website: http://www.nrcv.com
Blog: ask4realtor.blogspot.com
0 votes
Marilyn Farb…, Agent, BOYNTON BEACH, FL
Fri Aug 16, 2013
Have sold to "foreigners" and it can be done. If you want the names of local lenders to call, let me know. Happy to send you listings after you tell me how many bedrooms, home or condo or townhouse, pool?, any other important factors.

I will walk you through the process every step of the way and remain in touch after the closing as well.

Regards,
Marilyn Jacobs
561-638-9818
marilynfjacobs@gmail.com
Jeffrey Ray & Associates
0 votes
Fritz Walter, Agent, Milford, CT
Fri Aug 16, 2013
Hi, from a lender point of view here are some items you may find helpful:

For a standard conventional loan here are the acceptable Visa Classifications are: E‐1, G‐2, G‐3, G‐4, H‐1B, L‐1A, L‐1B and
NAFTA TN for your standard Fannie/Freddie loan.

If you need a portfolio loan because you do not fit into the above Visa classifications then there are 2 Loan to Value Tiers for Foreign Nationals:


1) 65% LTV if borrower has US Credit & Income is derived in US

2) 55% LTV if borrower has NO US Credit & Income is derived Overseas

Deal will still be treated as Full Doc. If income & assets are derived overseas, then we can provide a US Approved Translation company to Translate Language and Convert currency into US Dollars

Every country has some form of Tax Returns or Pay Stubs or methods to verify income.

I am a direct lender with an A+ rating on the Better Business Bureau and come highly recommended. If I can be of any assistance just let me know.

All the best,

Fritz Walter
VP of Retail Sales
Toll free: 800-359-1996 x551
Direct: 203-783-4551
Email: fwalter@totalmortgage.com
Alt email: fritz@post.Harvard.edu
NMLS ID: 387922
Visit my webpage: http://www.totalmortgage.com/bankers/fritz-walter/
Company Website: http://www.totalmortgage.com
Total Mortgage Services, LLC - NMLS #2764
Licensed in: CT, FL, MD, NJ, NC, SC, TX, VA
0 votes
Lilia Biberm…, Agent, Boca Raton, FL
Fri Aug 16, 2013
Hello Alex,

Yes, foreign nationals can buy property in the United States. They can even qualify fir a foreign national loan. Please contact me if I can further assist you in the real estate process. I can email you property reports so you can get an idea of what is currently on the market.

Best regards,

Lilia Biberman, P.A.
Coldwell Banker
561-352-4576
Liliabiberman@gmail.com
0 votes
Scott Miller, Agent, Boca Raton, FL
Fri Aug 16, 2013
Hi Alex.

ABSOLUTELY! We sell to foreign nationals all the time!

Would you like my brokerage's wiring instructions so we can get started??

Lots of amazing investments now.

GOOD LUCK.

Scott Miller
Realty Associates
Boca Raton, Miami Beach
0 votes
Ann Ryan, Agent, Doral, FL
Fri Aug 16, 2013
Foreigners can, and routinely do, buy property in the United States. In fact there are almost no restrictions at all. You do want to understand U.S. tax laws, particularly how FIRPTA will affect you when you sell the property.
0 votes
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