Is it possible for a Canadian Citizen to purchase a fore-closed home? I can afford to buy some of these listings out-right vs. renting!

Asked by Jaijai, Los Angeles, CA Sun Oct 2, 2011

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16
Terry McCarl…, Agent, Cape Coral, FL
Fri Oct 7, 2011
Yes it is very possible...I have sold homes to several Canadian citizens over the past couple of years. I have a detailed brochure that explains what non US citizens need to know when purchasing property in the United States. If you would like a copy of the brochure feel free to email me.

Terry McCarley, Realtor®, CDPE
Jones & Co Realty
email: leecountyrealtor@earthlink.net
cell: 239-707-4575
0 votes
Mimi Davies, Agent, Santa Monica, CA
Fri Oct 7, 2011
Hi Jaijai

The answer is yes you can purchase a property in America.

Now the question is do you want to do this on your own, which you can, if you have a lot of time and resources.
Or would you be more comfortable working with an agent, in order to benefit from the representation of an industry professional?

There are pros and cons in both cases. Usually unless individuals are buying their 2nd or 3rd home, in which case they would be familiar with the process, I recommend that they hire an agent.

Being a cash buyer has an advantage that may attract some sellers, but clearly it's not the only "selling" factor. The terms and conditions of your offer, the contingencies and other aspects of the negotiation process will interfere with the strength of the offer your bring on the table.

I say if you're up for it, why don't you contact me to set up a buyer consultation? It's entirely free, and this way I can establish what you're looking for, answer your questions and explain to you the stages of the buying process.

Let me know if you're interested and have a great day!

Mimi Davies
Keller Williams Santa Monica
0 votes
Heather Paul, Agent, Santa Monica, CA
Wed Oct 5, 2011
Absolutely! And congratulations on making a very smart decision to invest in real estate right now! Anyone can purchase property in the US, the other bonus you have is that you will be paying cash for your home purchase, you have great negotiating power when buying with cash. What area are you looking to buy in? Do you have any specific properties you would like to schedule a time to see them? I have several clients I have helped relocate from Canada or buy investment property out here in LA, if you need any assistance, feel free to contact me anytime!

Have a great day,
Heather Paul, Realtor
Coldwell Banker
310-586-0364
0 votes
Kathleen Bec…, Agent, Santa Monica, CA
Tue Oct 4, 2011
Hi Jaljal:

Yes, it is very possible for a Canadian Citizen to purchase a foreclosed home in the United States.

Feel free to contact me directly if I may assist you.

All the best,

Kat Becker, Agent
Prudential California Realty
katbecker@prula.com
0 votes
Carmen Brode…, Agent, Scottsdale, AZ
Mon Oct 3, 2011
Canadian buyers are a huge part of the market currently buying foreclosures. Especially in the warmer states.
0 votes
John Arendsen, Agent, Leucadia, CA
Mon Oct 3, 2011
We're a Real Estate Brokerage, investment company, general conractor, developer, architectural, interior design and property management company all owned and operated by one family. We specialize in the acquisition, rehab, remodel, rebuild and new build single family home, condo, du, tri and quad plex and manufactutred housing projects be they distressed properties, i.e. foreclosures, short sales, probates or traditional RE transactions.

We offer fix and flip or buy and hold to rent/lease, build and manage property portfolios for clients seeking a home to occupy. We have a group of investors we work with on many projects but we are certainly ready, willing and able to work with individual clients as well. Please feel free to log onto our website below or call us anytime through our toll free number or you can call me on my cell at 760 815-6977.
0 votes
Cyndi Lesins…, Agent, Valencia, CA
Sun Oct 2, 2011
Hello. In Los Angeles County and specifically San Fernando and Santa Clarita areas there are many opportunities for you to purchase. Even in today's real estate market, there are often multiple offers. An all cash offer can win but not because of simply being all cash. You need to have the offer written up with the best possible terms for all parties. In some situations a higher cash offer my lose to a better contract that includes a loan. This being said, I have not run into any issues with citizenship, and there are many Canadians within the geographical area I serve.
0 votes
Donne Knudsen, , Simi Valley, CA
Sun Oct 2, 2011
Jaijai - As others have stated, if you are looking to purchase a property with cash, there are very little restrictions for foreigners to purchase property here in the US. However, if you are looking to purchase property with a mortgage loan, you could have some challenges if you do not have any US credit or US income. Lenders will pull a US credit report and want to see US tax returns.
0 votes
John Arendsen, Agent, Leucadia, CA
Sun Oct 2, 2011
If you're possibly interested in the San Diego area I'd love to work with you. Feel free to call me anytime. 760 815-6977
0 votes
Richard "RJ"…, Agent, Beverly Hills, CA
Sun Oct 2, 2011
Absolutely. I assist many
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Richard "RJ"…, Agent, Beverly Hills, CA
Sun Oct 2, 2011
Absolutely. I assist many
0 votes
Dot Chance, Agent, Burbank, CA
Sun Oct 2, 2011
Yes, JaiJai, it is possible to purchase foreclosures with cash. I'm not sure how much cash you have on hand to be able to say specifically that you have enough cash to purchase a home without a mortgage.

As you know, there are some great buys out there! Let me know if you have questions.

Dot Chance, Realtor®
Certified Distressed Property Expert – CDPE®
DRE License #01494182
Keller Williams Realty World Media Center
http://www.DotChance.com
818.339.7712

WHEN YOU THINK OF REAL ESTATE...Think DotChance.com! My business thrives from your referrals!
Web Reference:  http://www.DotChance.com
0 votes
Ron Escobar -…, Agent, Beverly Hills, CA
Sun Oct 2, 2011
Yes... I gave you some feedback on the other question you posted....

this is a good time to buy... with or without mortgage... consider mortgages are at approx 4% rate for 30 years.. that is crazy!

I have a Canadian friend that is buying distressed property, fixing it and then selling it... I help him both as a real estate broker and also as a general contractor... you can scoop out some really good deals... the worst condition the property.. the better the deal!
Web Reference:  http://select-realestate.com
0 votes
Hartman Cole…, Agent, Marina Del Rey, CA
Sun Oct 2, 2011
If you can, why not do both! Buy one to live in and one to rent out. I know many people who have purchased homes and condos recently and are doing well renting them out. I have helped a Canadian or two in my time as well. It's best to start by speaking to a Realtor and and lender about your specific scenario. Let me know how I can be of service...

Best,

Bradley F. Cole, ABR
President’s Circle
Realtor Associate
Prudential California Realty
DRE License # 01291534
(C) 310-774-1422
0 votes
Rich Anderson, , Los Angeles County, CA
Sun Oct 2, 2011
Hello Jaijai
Yes it is quite possible for a non citizen to purchase property in the U.S. There are very few restrictions.
Best Regards,
Rich Anderson
Realtor, SFR
DRE # 01488220
RE/MAX Masters
1340 E. Route 66 Ste.110
Glendora, Ca. 91740
Office Phone: 626-914-5848 Ext.224
Direct Phone: 909-740-9210
E-Mail: crich4property@yahoo.com
0 votes
Bill Eckler, Agent, Venice, FL
Sun Oct 2, 2011
The US places very few restrictions on foreign nationals purchasing property in the US....regular or distressed sales. And if you are prepared to pay cash, many banders will favor this over a financed opportunity.

A word of caution.....be absolutely clear that the posted price represents the actual lender price and is not only and indication of the amount the owner is deficient. A local real estate professional will be able to assist you with being certain that your information is accurate.

Good luck,

Bill
0 votes
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