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Rainmaker
3,725,505
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sure... if they are not cash buyers the real issue is getting financing for them.

Oct 10, 2016 12:13 AM
Rainmaker
3,854,202
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

The only problem is getting money transferred, especially Russia! Get the money transferred before you start making offers!

Oct 10, 2016 12:11 AM
Rainmaker
1,120,232
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Got to, not had to and yes; Mexico, Germany, China, Middle East & Canada. Only real issue was sometimes delays in getting the money out of their Mother Country (China & Germany being the hardest so far) to the USA. But otherwise, mostly all cash and mostly enjoyed the experience each time.

Oct 10, 2016 12:00 AM
Ambassador
1,334,029
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

The majority of my foreign investors are from the US

Oct 10, 2016 12:18 AM
Rainmaker
3,830,621
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Yes, I have been fortunate to have clients who are from outside our country.   As Thomas J. Nelson, Realtor answered most of these transactions are cash. As always, much of our role is education -- explaining local customs while remaining mindful of differences in how real estate is conducted elsewhere.

Oct 10, 2016 12:10 AM
Rainmaker
899,502
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Yes, quite a few - no real issues

Oct 11, 2016 12:20 AM
Rainmaker
790,066
Susan Laxson CRS
Palm Properties - La Quinta, CA
Local Knowledge & Global Network

I agree with Nina Hollander and those of us who do work with international clients who need financing have problems finding it.

Oct 10, 2016 01:24 AM
Rainmaker
2,948,905
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

It is an honor to work with foreign investors ... not a "had to deal with" problem.  I always make sure the cash is in a US bank account before writing offers ... or recommending a seller accept an offer from a foreign investor. 

Oct 10, 2016 12:44 AM
Ambassador
4,391,712
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I haven't worked with any foreign investors yet, but curious to hear what others have to say. I would think fnancing would be an issue, and getting money transferred

Oct 10, 2016 12:34 AM
Rainmaker
500,303
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Good question. Upon a sale by a foreign "person," the FIRPTA tax needs to be paid.  When you are representing a buyer in such a transaction, if the tax is not paid, the liability can fall to the buyer.  This is why we recently incorporated a FIRPTA addendum in Oregon and upon taking a listing, a line in our contract asks the seller to state whether or not they are a foreign person. We should be seeing more foreign sellers as many purchased during the recession and with the real estate boom we are having now, many are cashing in.

Oct 10, 2016 12:24 AM
Rainmaker
1,662,373
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

We haven't had much of that in my marketplace.

Oct 10, 2016 12:17 AM
Rainmaker
6,167,374
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Yes. The title company we use is fully prepared to handle these situations.

Oct 10, 2016 12:10 AM
Rainmaker
864,177
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Not easy to say the least. Firstly there is the issue with communication. Meeting of the mind tends to get lost in the translation. Then, comes the expectation and differences in culture. 

"Nope, I won't make an offer $50k below asking just because you are a cash buyer."

Oct 16, 2016 12:38 PM
Rainmaker
18,660
Steve McRory
Pro Option Mtg. 888-662-4404 - Tampa, FL
Mortgage Loan Originator

>> FLORIDA MORTGAGE BROKER RESPONDING..

It's sad or better yet, it's pathetic as to how much better stewards of their money and debt they are on average they tend to be than Americans

You got Americans, in their 30s to 60s with only 20k in a 401k that's basically a forced savings or they'd have nothing, with $3k in checking hardly a pot to "..." in,  strapped with 30k plus in non-tax deductible, high interest rate credit card debt, but out there shopping for a home because they looked on some online credit score site and saw a 712 worthless NON-mortgage, "Consumer FICO" score, out there running some poor realtor ragged looking at 500k homes over 8 weekends.

Then Mr."712 credit score" finds out he has a 673 "Mortgage Score" and hasbetter chance in seeing Elvis in K-mart than actually being able to qualify for a mortgage after another 2 months of sales contract extensions while he desparatly shops lenders, driving his score  down along the way !!

So, if I were realtor, I'd be all over FN buyers like a hobo on a  jelly sandwich, because on average...THEY CAN  BUY!

HOWEVER,  if they need a mortgage, you had better urge them to get pre-approved in advance as many are oblivious to how much things have changed over the past 9yrs and/or how much different FN loan terms can be compared to what they can get back in their country. 

WHY?  When we went thru the housing crisis, FN borrowers said ‘See Ya, sorry about your luck” , boogied back home and let their loans go bad. 

This left American Banks in an even worse situation on foreclosures than foreclosing on a U.S. citizen as Due Process could not take place on borrowers in other countries.  

Therefore, those properties were even more of a gut punch and banks have not forgotten.

 

Oct 16, 2016 03:50 AM
Rainer
12,938
Aaron Mtuanwi
LBBM Brokers, Inc - Lawrenceville, GA
INSPIRED TO SERVE Atlanta, GA [Metro Atlanta Area]

Done lots of them with no issues. Good thing now is that few lenders can do financing 30% or 40%. Yes, only problem is sending the cash or downpayment. I always prefer sending to attorney escrow account

Oct 12, 2016 12:37 PM
Rainer
229,778
Jessie Cochran
Counts Real Estate Group, Inc. - Panama City, FL
Panama City Realty Group

Yes, we work with quite a few - no issues just make sure financing is set up ahead of time

Oct 11, 2016 12:38 AM
Rainmaker
3,069,179
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

no

Oct 10, 2016 11:52 PM
Ambassador
5,036,034
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Seldom an option around here.

Oct 10, 2016 03:35 PM
Ambassador
4,309,924
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Dusty Rhoton, SFR, SRS, CDPE, RSPS, ABR - not yet.

Oct 10, 2016 02:53 PM
Ambassador
3,986,094
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I haven't had problems but the money transfers can take a little time and need a paper trail.

Oct 10, 2016 02:42 PM
Ambassador
2,216,158
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

I haven't had to deal with that yet. 

Oct 10, 2016 01:29 PM
Ambassador
3,504,111
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

 I had a language barrier ....

Oct 10, 2016 12:56 PM
Rainmaker
1,922,538
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

LOVE the foreign investors who come with cash!

Oct 10, 2016 12:46 PM
Rainmaker
3,985,753
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I feel I am very lucky that I have not.

Oct 10, 2016 12:32 PM
Ambassador
2,523,346
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Yes.

     Get them to a Title Attorney ASAP, to discuss money transfers, how to hold Title, acceptable identification, other legalities.

Oct 10, 2016 10:09 AM
Rainmaker
4,799,256
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I've had a few.  No problems with those with cash.  Financing can get a little tricky.

Oct 10, 2016 06:19 AM
Rainmaker
1,337,413
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

No.

Oct 10, 2016 05:04 AM
Ambassador
1,706,936
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Work with cash buyers for simplicity and make sure you know who you are dealing with. Financing is out there but at a cost and then you run into translation issues, and dollar conversions. Then they have to use an American notary at the embassy if there is financing and that is very limited and expensive for the buyer.

Oct 10, 2016 04:36 AM
Rainmaker
439,823
Susie Kay
Ultra Real Estate Dallas Fort Worth - Plano, TX
North Dallas Specialist

Yes. With mine, fortunately, they always have relatives in the US so the relatives assist.  The only concern that I've come across is too often they want me to tell them whether to purchase the property or not.  Whether it's a good invesment or not etc. 

Oct 10, 2016 01:40 AM
Rainmaker
1,157,329
FN LN
Toronto, ON

We have foreign investors from around the world who invest in my area.

Oct 10, 2016 12:47 AM
Rainmaker
1,610,441
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Yes and the only issue has been getting their funds into the U.S.

Oct 10, 2016 12:26 AM
Rainmaker
3,724,207
Richard Weeks
Dallas, TX
REALTOR®, Broker

Getting funds wired into escrow.

Oct 10, 2016 12:22 AM
Ambassador
1,615,844
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I deal with many foreign investors. You will need to send extra emails and photos when doing real estate so they are fully informed.

Oct 10, 2016 12:20 AM