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Can overseas investors purchase property in tx?

I'm wondering if an overseas alien investor with no residence (green card) can purchase property. Do they need to register a social security number? How does it work with paying real estate tax? Can they purchase land? Can they purchase properties at auctions?
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6 days ago - Dallas
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Answers (3)

We regularly assist overseas buyers.  You do not need to be a citizen or resident to buy.
You do not need a social security number.
There is no additional tax on purchase.
There are virtually no restrictions on what you can buy.
Land, homes, condos, office buildings, commercial properties, hotels, etc.
However all this assumes you have cash....that can be transferred by a bank.
In most cases loans are very difficult to find if you don't have residency.
I work with one lender who does this, but the down payment is high as well as the costs.

The main thing to be aware of is on the sale of the property.  Non-residents have tax withholding at the time of the sale, until you file a tax return to show the profit/loss.  
http://www.irs.gov/Businesses/Withholding-of-Tax-on-Dispositions-of-U.S.-Real-Property-Interests
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6 days ago
YES, non U.S. citizens can purchase property in the U.S. It's more complicated, especially in regards to if they're paying cash ( due to money laundering issues).
 
As far as the taxes go, here is a link to an IRS Article on part of the tax issues.

 http://www.irs.gov/Businesses/Withholding-of-Tax-on-Dispositions-of-U.S.-Real-Property-Interests
 
 You will need to contact the I.R.S. and a local real estate broker that specifically deals with this niche market.

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6 days ago
I believe so, check with title or real estate company.
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6 days ago
 
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