2,684,769
Yes, absolutely. A huge percentage of sales in Florida are to foreign nationals.
Use a real estate attorney who has experience with international buyers. Meet that lawyer ahead of time, have them explain what you need to do.
There may be IRS and other reporting requirements (not just FIRPTA, but new requirements to prevent money laundering). Ask the attorney about that.
BEWARE of wire transfers of money... let the Title closer or Attorney handle any and all deposits, cash for closing, etc. Aside from the potential for scams, it can be complicated wiring money from one country to another (my wife is from India; we send money back and forth to her family from time to time, I know of what I speak).
You can do it! Let us know how it turns out.
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Dorie Dillard Austin TX
Austin, TX
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Bob "RealMan" Timm
Minot, ND
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Lyn Sims
Schaumburg, IL
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Eve Alexander
Tampa, FL
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Ron and Alexandra Seigel
Carpinteria, CA
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Debe Maxwell, CRS
Charlotte, NC
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Norlyn Figueroa
Larchmont, NY
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Candice A. Donofrio
Fort Mohave, AZ
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Bob Crane
Stevens Point, WI
1,057,674
Foreign nationals own plenty of property in the United States. Look at your purchase contract. It probably has some provisions for foreign buyers. Title Company, attorney, your broker should be able to make sure that you don't miss anything.
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Anna "Banana" Kruchten
Phoenix, AZ
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Lyn Sims
Schaumburg, IL
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
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Norlyn Figueroa
Larchmont, NY
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Fred Griffin Florida R...
Tallahassee, FL
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Candice A. Donofrio
Fort Mohave, AZ
2,222,281
I don't see why not. Have you talked to a real estate attorney in your local area regarding this matter? Good luck to you.
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Debe Maxwell, CRS
Charlotte, NC
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Norlyn Figueroa
Larchmont, NY
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Bob Crane
Stevens Point, WI
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Fred Griffin Florida R...
Tallahassee, FL
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Anthony Acosta - ALLAT...
Atlanta, GA
1,555,100
Yes, I sell directly from China often, did it from Germany and Costa Rica too.
They just need internet, FED EX and wire transfers.
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Fred Griffin Florida R...
Tallahassee, FL
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Lyn Sims
Schaumburg, IL
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Debe Maxwell, CRS
Charlotte, NC
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Norlyn Figueroa
Larchmont, NY
1,712,876
Yes they can and if it is cash they probably don't have to go to an American Embassy to get an American Notary but be sure to check on that because it is not a just walk in and sign.
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Fred Griffin Florida R...
Tallahassee, FL
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Norlyn Figueroa
Larchmont, NY
352,976
I have many International clients who buy homes here in CA and live in other countries. Just be sure they are valid and have the ability to purchase. Yes, verifiable proof of funds would apply to them as it would any other buyer as would all the other requirements of a sale.
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Fred Griffin Florida R...
Tallahassee, FL
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Debe Maxwell, CRS
Charlotte, NC
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Pete Xavier
Pacific Palisades, CA
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Norlyn Figueroa
Larchmont, NY
6,426,255
Why not, many agents here deal with this often.
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Debe Maxwell, CRS
Charlotte, NC
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Norlyn Figueroa
Larchmont, NY
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Fred Griffin Florida R...
Tallahassee, FL
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Bob Crane
Stevens Point, WI
3,988,013
Yes they can and the title copmpany will make sure all criteria is followed. The cash will have to be wired funds, certified funds and traceable.
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Debe Maxwell, CRS
Charlotte, NC
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Norlyn Figueroa
Larchmont, NY
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Bob Crane
Stevens Point, WI
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Fred Griffin Florida R...
Tallahassee, FL
2,163,483
A cash purchase by a foreign buyer will be much easier than trying to get them foreign buyer financing. Follow your normal procedures regarding proof of funds and required deposits. Talk to a tax accountant who is familiar with working with foreign clients. As far as I know the IRS does not necessarily issue tax IDs unless there is a need. Find out whether the purchase is for personal use/residential, or investment/commercial. Have them talk to a tax accountant or attorney about the best way to take title. If they have to set up something like a foreign corporation this will take time. Finally, while FIRPTA does not affect foreign buyers at time of purchase, it will be a consideration when they decide to sell. I have found, that this is something that many foreign buyers are not being told about.
Regarding money transfers you can also contact one of the one of the international money exchange companies such as MoneyCorp or Currencies Direct. Go to their websites for information and talk to a representative. Your foreign buyer may be able to save some money in the currency exchange as well as fees and the money will be at the closing company when its needed. Many of my foreign buyers have used these services and have been pleased. Good luck!
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Abby Stiller
Cape Coral, FL
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Fred Griffin Florida R...
Tallahassee, FL
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Norlyn Figueroa
Larchmont, NY
5,117,178
You need to get the appropriate advice from an attorney specializing in such sales.
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Frank Rubi
Metairie, LA
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Fred Griffin Florida R...
Tallahassee, FL
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Bob "RealMan" Timm
Minot, ND
2,403,430
Absolutely Norlyn Figueroa but be very careful about fraud, get an attorney involved.
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Fred Griffin Florida R...
Tallahassee, FL
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Debe Maxwell, CRS
Charlotte, NC
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Norlyn Figueroa
Larchmont, NY
2,855
Ok thank you, but wouldnt the person have to be at least a resident?
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Debe Maxwell, CRS
Charlotte, NC
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Bob Crane
Stevens Point, WI
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Anthony Acosta - ALLAT...
Atlanta, GA
3,350,764
Yes. Many do own propety in the US. You have many great comments here. I have nothign to add to them. Good luck.
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Fred Griffin Florida R...
Tallahassee, FL
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Norlyn Figueroa
Larchmont, NY
1,466,257
Norlyn Figueroa I was going to refer to FIRPTA regulations, but Fred Griffin already answered your question. I hope it works out for you. Be careful!
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Fred Griffin Florida R...
Tallahassee, FL
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Norlyn Figueroa
Larchmont, NY
5,258,996
Absolutely, Norlyn! I would review your Contract and seek the advice of your local Title company or attorney - whomever will be performing the Closing.
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Fred Griffin Florida R...
Tallahassee, FL
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Bob "RealMan" Timm
Minot, ND
2,785,606
More data would be helpful so we can target the subject better. If I was a seller, I would want to see those funds liquid and ready to go. Perhaps wired into an escrow account with instructions on how to hold and release?
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Debe Maxwell, CRS
Charlotte, NC
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Norlyn Figueroa
Larchmont, NY
536,943
I have always been weary of this but I know it is done. Just make sure you are protected by involving an attorney to advise you on the steps to take. Good Luck!
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Debe Maxwell, CRS
Charlotte, NC
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Norlyn Figueroa
Larchmont, NY
5,035,220
Follow Fred Griffin advice.
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Fred Griffin Florida R...
Tallahassee, FL
3,383,434
Represented a buyer residing in Germany doing this a few years back. Biggest issue I had, was figuring out the conversion rate from euros to dollars on his POF.
He was thankfully here in the USA for personal visit with family so he was able to do a POA for his son to sign on his behalf at closing.
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Fred Griffin Florida R...
Tallahassee, FL
788,931
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES couldn't have said it any better.
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Silvia Dukes PA, Broke...
Spring Hill, FL
1,507,073
Yes, happens all the time in Los Angeles. It's often used as a fast track to a visa. After they invest a certain amount the government gives them a visa.
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Fred Griffin Florida R...
Tallahassee, FL
5,063,430
Fred Griffin has some good advice. Check your contract and talk with you broker. You may need an attorney. Good luck! This is a pretty common occurrence.
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Fred Griffin Florida R...
Tallahassee, FL
5,583,328
follow Fred Griffin ...he seems to be well versed on that topic... as he is on MOST topics....
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Fred Griffin Florida R...
Tallahassee, FL
1,617,916
4,907,547
Yes; however I doub't a title company would accept cash. Probably would need to wire the funds.
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Fred Griffin Florida R...
Tallahassee, FL
1,728,867
Yes, but selling is a diferent story. Consult FIRPTA
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Fred Griffin Florida R...
Tallahassee, FL
3,416,038
Yes I have been working with international unvestors. They used a local lawyer for funding and providing what we needed to make offers
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Fred Griffin Florida R...
Tallahassee, FL
5,246,899
Fred Griffin has this covered well!
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Fred Griffin Florida R...
Tallahassee, FL
3,071,589
Candice A. Donofrio nailed this one!
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Fred Griffin Florida R...
Tallahassee, FL
613,494
However all the true scammers I have had also came from overseas...so much so, that at one time I was doing background checks with a private investigator. They never come in person and always have a good story.
They love to get you interested by talking big dollars, and how much they need someone to trust...and instead of providing POF from a bank account, they give you a letter from their "solicitor" (aka attorney) who writes poorly. They prefer smaller offices where escrow may not be as secure.
If you have a real international buyer it would help if you learn their customs. As Fred Griffin says, use an immigration attorney or one who specializes in real estate for foreign nationals.
Eve
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Fred Griffin Florida R...
Tallahassee, FL
5,773,392
I think that Fred Griffin gave you great advice. A
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Fred Griffin Florida R...
Tallahassee, FL
1,242,204
Tax id is needed. There has been numerous lawsuits by foreign nationals on agents.
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Fred Griffin Florida R...
Tallahassee, FL
2,850
55,673
I would think that a all cash deal is fine. I have done mortgages with borrowers with "Green Cards" so, I see no reason why they cannot purchase. Unlike many countries that only allow citizens of that country to purchase, the United States treats the sale of Real Estate to a foreign born the same as a US Citizen. Many Mortgage Companies will also lend to foreign born,but may request more down...like 40%. Hope that helps.
5,879,826
I have received so many emails that I believe to be scammers, have not moved forward.
4,319,873
Norlyn Figueroa - This is surely a possibility - though there may be some specific requirements - check with CPA, Attorney.
1,847,911
What's the problem? They just purchase a property & it better not be with illicit funds.
4,800,132
7,872,142
4,434,177
3,986,308