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How do i buy a house overseas?
Do i have to get an international real estate agent or can i use one here? what extra fees do I have to pay?
Asked By Jj | Culver City, CA | 650 views | International Real Estate | 1 year ago
Answer(7)
Jake & Yuliana Bond
RSVP Real Estate
Buying a home outside of the United States should be done with an attorney not a real estate agent. The agent that you would normally use if you were a local may not sufficiently understand your foreign status and what may or may not apply to you from a liability perspective. Although most agents in the USA have the ability to deal with foreign nationals I would not be quick to think all agents are similar in other countries. You should approach buying with much due diligence and assume that no one professional can handle all of the tasks involved. ALL COUNTRIES WILL BE DIFFERENT. Some easier like Mexico and Some difficult like Israel.
- 1 year ago
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Dania Massry
Realty One Group Turn Key
There are several steps involved in buying a house overseas, including:
1. Researching the market: Before making an investment, it is important to research the local real estate market and find a property that fits your budget and needs.
2. Getting a mortgage: You may be able to get a mortgage from a foreign lender, but it may be more difficult to qualify for one and the interest rates may be higher. Alternatively, you can also use cash to purchase the property.
3. Hiring a real estate agent: It can be helpful to hire a local real estate agent who is familiar with the area and can assist you in finding a property and navigating the local market.
4. Hiring a lawyer: You should hire a local lawyer who can assist you in understanding the legal process and ensuring that the property transfer is done properly.
5. Completing the transaction: Once you have found a property and completed all necessary paperwork, you will need to complete the transaction and pay any required fees.
6. Complying with tax laws and regulations: You will need to comply with tax laws and regulations of the country you are buying the property in, and may need to engage the services of an accountant and/or tax advisor.
Note that buying a house overseas is a complex process and it is important to seek out the assistance of professionals who can guide you through the process.
- 1 year ago
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Lisa and Greg Harris
eXp Realty, LLC
Depending on where you are looking to purchase, there are different rules regulations, and local expertise that is needed to complete a real estate transaction internationally, especially depending on where you are looking to buy. YES, YOU NEED A LOCAL REAL ESTATE PROFESSIONAL! They will be able to guide you through the local requirements and finance options etc.
I recently looked into purchasing a home in the Caribbean for myself and reached out to local REALTORS and found a wealth of knowledge on the options. They also typically take longer to close on an international property due to the requirements. It also takes much larger down payments and comes with higher interest and closing fees than the US in many cases. So depending on where you are looking the details will be very different from place to place, just like many transactions are different here in the US from state to state.
- 1 year ago
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Stephanie Biello
Biello & Black Group
The best way to purchase a house overseas is to work with an international real estate agent who is familiar with the local laws and regulations. They will be able to guide you through the process and provide you with valuable insights about the market. Depending on where you are buying, there may be additional fees associated with purchasing overseas such as currency exchange fees, transfer taxes, and other transaction costs. Your real estate agent can provide more information about this so that you are fully informed before making a decision. We have an extensive network across the globe and would be happy to help make that connection!
- 1 year ago
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Julie Yuan
eXp Realty of California Inc.
You would want to use an agent with local experience. Ask a trusted agent from a company that has global presence for a referral. Which market are you looking at?
- 1 year ago
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Daniel Osorio
Executive Group Realty
you need to get a local expert and local Atty. to help you buy. there are international RE brokers like me, I have done deals in Mexico and Europe. let me know if you would like more assistance, we could be on a phone call.
- 1 year ago
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Melinda Bell
Samson Properties
If you are looking to buy in Japan, Italy, Panama or Colombia I can help. There are rules and regulations for every country. I am in Italy and Japan 3-4 months out of the year. If you need financing, each
country has different requirements. Attorneys will typically handle the legalities of the purchase.
- 1 year ago
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Related Questions
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How do i buy a house overseas?
Do i have to get an international real estate agent or can i use one here? what extra fees do I have to pay?
- Asked by Jj
- Culver City, CA
- 650 views
- International Real Estate
- 1 year ago
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