Profile picture for user688666

hot questions

i have so many quastions if i want to buy ahousa in usa ,Is it legal to buy  house if i am not american citizen ,i come only for tourism
What is the commission you are tsking.
what if i want to increase the payment upto 500 USD .The last is there an annual tax will be pay after buying the house.
My e.mail : abofaisalmsb@hotmail.com
    Thank You.
  • November 06 2012 - US
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Answers (3)

Profile picture for Connie Klemme

the payment is determined by your loan.  Here you do not make payments to the seller, you purchase the house and it is secured by a mortgage and promissory note - the payment amount is determined by the loan terms.  In most cases you can increase the amount you pay in order to apply it straight ot the principal and save money on interest long which lowers your overall expense long term. You need to speak with a lender that would provide the loan in order to get a full understanding.

as for buying a home when you are foreigner there are two critical things to consider.

1.  How long can you stay in the US at a time and is it worth it to buy a home that you can only visit? 
2. Something to consider for a home you buy and wish to sell later. If a home is over $300,000USD in value and it sold by a foreign seller  the potential buyer has to withold in cash 10% of the purchase price paid to the IRS instead of you (i guess you get it later???)  but this means that the buyer has to have that cash plus their down payment, which means the pool of buyers was just limited and some see that the IRS is involved and just don't want to bother even if they can afford that.

so....keep that in mind when making a purchase.

  • November 07 2012
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Check out the homes in Houston, Texas.  We have a hot market and you can get a lot for your money.  The rental business is also very hot here.  If you decide on this area, contact me so I can assist you.  
  • November 07 2012
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Profile picture for wetdawgs
Yes, it is legal to buy a house if not a US citizen.

When buying a house, the commission is usually paid by the seller.  There may be other fees for the buyer in the purchase process.

Your question about increasing payment is not clear.

Property taxes vary depending on the state.   Some, like CA, the tax is calculated on the purchase price.   Others it is assessed value.  You can get a clue by opening the details page for homes of interest and scrolling down to the tax history table.
  • November 06 2012
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