About half of the buyers we work with live outside the United States when they start their search. The process is the same as for any buyer, with three differences: how you pay, how you hold the property and how it is taxed when you sell.
Paying for the home
Most international buyers pay cash. Mortgages for foreign nationals exist, but expect a larger down payment and a higher rate. Funds usually need to be in a US account a few weeks before closing.
Holding the property
Many buyers purchase through a US company rather than in their own name. It can simplify estate planning, but it has costs. Ask a tax adviser in both countries before you sign.
Selling later
When a foreign owner sells, the buyer withholds part of the price under FIRPTA until the tax return is filed. Plan for it from the day you buy.
This article is general information, not legal or tax advice.
