If you are paying for this without financing then you can simply contract to buy a property (using a broker is helpful, and free to you, but not necessary) and then close the property sale (does not necessarily need to be done using an escrow company but I've never closed a deal without an escrow company in this state)...
If you are needing financing it is possible to get through a conventional lender but many lenders do not offer that product. ?You can also borrow money through a "hard" money lender but the fees and rates will be much greater. ?Our market touches the BC border so we are familiar with BC and other Canadian buyers. ?I can recommend local lenders with Canadian loan packages, as well as Hard Money lenders.
Please note that we have 50 states here and every state is different. Most of the US realty laws stem from Olde English Common Law, but then Florida (Spanish influence) and Louisiana (French) influence are quite different as well.
When selling, a foreign national needs to be aware of FIRPTA...(can be googled) which calls for the with-holding of 10% of proceeds from a foreigner's sale, until the tax ramifications can be sorted out. Essentially, out TAX MAN wants his cut out of any profits you may receive. ?If there's a loss, no need to worry, but FIRPTA is designed to hold back the money received until you file a US return.
If you'd like US Realtor recommendations, let me know and I'll provide some by interviewing them over the phone if I don't already have a familiarity with them. ?Some are better than others. ?Some are way better than others.
Hope This Helps, and Good Luck!
Cheers,
Rob
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