can a british citizen purchase a home in ca?

Asked by Graham, leeds, uk Wed Nov 5, 2008

I am a british citizen who is looking to either take over payments on a preforclosure home or buy a home in the venntura county area. I will still be living and working in the UK. Is this possible?

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Tracy Lu Gui…, Agent, Camarillo, CA
Thu Nov 27, 2008
It's hard to find loans which are assumable...It's much easier dealing with bank owned properties as opposed to pre-foreclosures.
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Bill Eckler, Agent, Venice, FL
Wed Nov 5, 2008
Graham,

Taking over payments is not a possibility. However, you can definitely purchase a "foreclosure" or any other type of sale. To accomplish this you will need to make your own loan arrangements. At this time, today's foreign buyers are being required to provide a deposit of between 30 and 40 percent of the sale price.

Most banks involved with foreclosures will require the deposit identified above and proof of funds by your bank or lending institution.

This is a great time to be considering buying property in the US.......find an agent and get started today!

We would be happy to refer you to one of the top Ventura agents that will be able to assist you with all phases of the buying process.

Best wishes,
Susan & Bill Eckler, GRI
Michael Saunders & Company
billeckler@michaelsaunders.com

2008 Five Star Award for Outstanding Customer Service
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