Norlyn Figueroa,  Westchester's residential & rental properties​ (Coldwell Banker Residential Brokerage)

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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

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.

    

Jun 26, 2017 06:28 PM
Rainmaker
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Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

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.

Jun 26, 2017 06:40 PM
Rainmaker
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Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

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.

Jun 26, 2017 06:25 PM
Rainmaker
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Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

Yes, I sell directly from China often, did it from Germany and Costa Rica too.

They just need internet, FED EX and wire transfers.

Jun 26, 2017 08:06 PM
Rainmaker
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

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.

Jun 26, 2017 07:18 PM
Rainer
352,976
Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

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. 

Jun 26, 2017 06:49 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Why not, many agents here deal with this often.

Jun 26, 2017 06:37 PM
Rainmaker
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Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

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.

Jun 26, 2017 06:21 PM
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

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!

Jun 27, 2017 04:27 AM
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Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

You need to get the appropriate advice from an attorney specializing in such sales. 

Jun 27, 2017 03:28 AM
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Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Absolutely Norlyn Figueroa but be very careful about fraud, get an attorney involved.

Jun 26, 2017 06:49 PM
Rainer
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Norlyn Figueroa
Coldwell Banker Residential Brokerage - Larchmont, NY
Westchester's residential & rental properties​

Ok thank you, but wouldnt the person have to be at least a resident?

Jun 26, 2017 06:25 PM
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Yes. Many do own propety in the US. You have many great comments here. I have nothign to add to them.  Good luck.

Jun 27, 2017 08:13 AM
Rainmaker
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Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

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!

Jun 27, 2017 07:18 AM
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Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Absolutely, Norlyn! I would review your Contract and seek the advice of your local Title company or attorney - whomever will be performing the Closing.

Jun 26, 2017 09:30 PM
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

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? 

Jun 26, 2017 08:02 PM
Rainmaker
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Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

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!

Jun 26, 2017 07:51 PM
Rainmaker
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Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Follow Fred Griffin advice.

Jun 27, 2017 07:30 PM
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Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

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.

Jun 27, 2017 01:13 PM
Rainmaker
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Abby Stiller
TOP SELLING REALTY - Cape Coral, FL
SW Florida (239) 284-8637

Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES couldn't have said it any better.

Jun 27, 2017 12:58 PM
Rainmaker
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Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

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.

Jun 27, 2017 08:58 AM
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

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.

Jun 27, 2017 07:14 AM
Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

follow Fred Griffin ...he seems to be well versed on that topic... as he is on MOST topics....

Jun 27, 2017 05:48 AM
Rainmaker
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Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

check with title

Jun 27, 2017 05:32 AM
Rainmaker
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Richard Weeks
Dallas, TX
REALTOR®, Broker

Yes; however I doub't a title company would accept cash.  Probably would need to wire the funds.

Jun 27, 2017 05:18 AM
Rainmaker
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Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Yes, but selling is a diferent story. Consult FIRPTA

Jun 27, 2017 05:09 AM
Rainmaker
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Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Yes I have been working with international unvestors. They used a local lawyer for funding and providing what we needed to make offers

Jun 27, 2017 04:59 AM
Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Fred Griffin has this covered well!

Jun 27, 2017 04:38 AM
Rainmaker
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Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Candice A. Donofrio nailed this one!

Jun 27, 2017 04:30 AM
Rainmaker
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Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers
We work with a lot of international clients and I love them...they are typically serious, intelligent and have cash.

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

 

 

Jun 27, 2017 04:11 AM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

I think that Fred Griffin gave you great advice.  A

Jun 26, 2017 10:02 PM
Rainmaker
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Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Tax id is needed. There has been numerous lawsuits by foreign nationals on agents. 

Jun 26, 2017 07:33 PM
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Sherry Hommel
REMAX ONE - Beaumont, TX
"Your Real Estate Agent" I work for you!

Awesome info! 

Jul 26, 2017 07:32 PM
Rainer
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Joe D'Agostino
NMLS# 729950 - Manahawkin, NJ
Mortgage Officer 46 years!

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.

Jun 29, 2017 11:14 AM
Rainmaker
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have received so many emails that I believe to be scammers, have not moved forward.   

Jun 29, 2017 08:51 AM
Rainmaker
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Norlyn Figueroa - This is surely a possibility - though there may be some specific requirements - check with CPA, Attorney.

Jun 27, 2017 10:15 PM
Rainmaker
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Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

What's the problem? They just purchase a property & it better not be with illicit funds.

Jun 27, 2017 05:30 AM
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Most likely, yes.  But need more info about the buyer.

Jun 27, 2017 05:19 AM
Rainmaker
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Roy Kelley
Retired - Gaithersburg, MD

Yes. Just select a location and retain an experienced buyer agent.

Jun 27, 2017 05:03 AM
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I have not done it.

Jun 27, 2017 04:58 AM
Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Yes they can, I am not sure of what the regulations would be.

Jun 26, 2017 08:17 PM