Profile picture for igna303

can a tourist visa holder buy a house in california?

my parents who have us toursit visa are interested in buying a house in california. is that possible? if so what are the requirements? and how will be the set up if they can want to make a monthly payment. tnx in advance.
  • September 10 2011 - Sunnyvale
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Answers (4)

Profile picture for nwhome.us
See my response to a similar question on another Zillow post.
The visa is not the issue.  Look at the links to the IRS and Expat Focus for more information.
If you purchase with cash the only issues are tax related.
If you need to borrow money to make the purchase the issue is your "credit worthiness" in the US.
  • September 12 2011
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No problem really, talk to a lender.  If your favorite lender isn't able to handle loans like this, they can usually refer you to someone who does.  Canadians, for example can buy here, as can others.
  • September 11 2011
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Profile picture for Janell2Sell

How ironic that you posted this question.  I just had a client ask me the same thing earlier this evening.

The answer is yes, but with some guidelines.  I tried to post a lengthier and more detailed rsponse, but Zillow declined it becasue it was too long.  You can send me a message and I will send you a detailed email.

  • September 11 2011
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Hi,
As a foreign National, I have actually looked into this question deeply.
Anyone can buy a property in California, depending on whether you need to borrow money to do so.
A lender will want to see some credit history in this country before they will lend money to purchase. If you're paying cash, there's no problem.
The issue may arise when you need to sell the property. If you do not have residency, you may be responsible to pay an extra 3.3% tax upon sale.
Please don't hesitate to call me [phone number deleted by Zillow moderator.  Please refer to our Good Neighbor policy for posting guidelines]
Cheers,
Aileen
  • September 10 2011
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