Profile picture for michaelsng

can a foreigner purchase real estate property in Ann Arbor

  • May 21 2011 - US
  • 0Yes

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Answers (4)

Profile picture for Carole Tyne
You may want to try BBVA Compass bank for foreigner lending also.
  • May 22 2011
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Any one can buy any where int the world unless threre is a radical government controlling. In such, cases investors might not want to buy there any way.   The issue is the financing, if the investors do not have the cash to buy the property. 

Financial institutions make calculated risks assessments of the possible buyer, the banker will have its own particualr rules and the different locaities have different rules of taxes for foreign investors.

So the issue is where and get the answers for the particular location.
  • May 21 2011
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Profile picture for nwhome.us
There are number of lenders who can help, HSBC for one, if you would like to leverage the purchase.  Lenders who portfolio their own loans can frequently help.
The challenges arrive if you generate income from the property or when you want/need to sell.  FIRPTA requires a 10% withholding deposit against capital gains tax when a non-resident alien sells real estate. The way that you hold title may influence your US tax burden.  How many days a year you plan to live in the home may also affect the property's status.
Caution:  Once you get a Social Security number the IRS wants to look at your global income at tax time.
Again, find a tax adviser/attorney who practices international investment.  If you need a referral I can give you a couple.
  • May 21 2011
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Yes an international buyer can purchase property in the U.S. just make sure the agent you select has the knowledge & experience needed in working with you. Issues are finding a loan if needed & taxes if it's an investment property just to name a couple. Hope this helps,
  • May 21 2011
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